Outcome of Board Meeting for approved Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended December 31, 2025
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The board approved unaudited standalone and consolidated results for the quarter ended December 31, 2025. On a standalone basis, the company swung to a loss of Rs. 19.98 lakh versus a profit of Rs. 20.55 lakh in the year-ago quarter, with revenue from operations turning negative at Rs. -18.48 lakh (vs Rs. 30.67 lakh earlier). On a consolidated basis, however, revenue surged to Rs. 3,099 lakh (vs Rs. 1,213.67 lakh) and profit after tax jumped to Rs. 535.70 lakh (vs Rs. 133.99 lakh), driven by subsidiaries. The board also approved issuing up to 18,50,000 convertible warrants at a preferential price to 4 investors, of which 18 lakh warrants go to the two promoters (Ajay Sarupria and Shailesh Hingarh, the Managing Director), raising their combined holding from ~67% to ~73.5%. The auditor issued an unqualified limited review report, though noted that 3 subsidiaries' interim financials included in the consolidation were not reviewed by their auditors.
Mixed picture: standalone is loss-making while consolidated numbers are robust on paper, heavily dependent on un-audited subsidiary numbers. The large preferential warrant issue to promoters will dilute minority shareholders by roughly 26.5% on a fully diluted basis if all warrants are exercised, and signals promoter confidence but also capital infusion needs.