As per attachment
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board held a meeting on May 5, 2025 and approved several key items. Mr. Gaurav Surendra Nair was appointed as an Additional Non-Executive Non-Independent Director. Two Independent Directors — Mr. Kishor Anil Kokate and Mrs. Prajakta Anil Gangurde — resigned citing pre-occupation and personal commitments. The company posted strong FY25 results with standalone total income rising to ₹566.69 lakhs from ₹355.73 lakhs and net profit nearly doubling to ₹249.03 lakhs (vs ₹119.19 lakhs in FY24). The board approved terms of a ₹49.5 crore Rights Issue of 48 crore equity shares at ₹1 each, in a 5-for-2 ratio, with the record date set as May 9, 2025 and issue window from May 28 to June 11, 2025. Auditor SSRV & Associates gave an unmodified (clean) opinion on the financials.
The doubling of annual profit is positive, but the stock will see dilution from the Rights Issue (existing share count of 19.2 crore will rise to 67.2 crore if fully subscribed). The simultaneous exit of two Independent Directors may raise short-term governance concerns, though both cited personal reasons. Shareholders on the record date of May 9, 2025 will be eligible for the Rights Entitlement.