PLEASE FIND THE OUTCOME OF THE BOARD MEETING HELD ON 30TH MAY, 2025.
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Simplex Castings reported strong audited results for FY25. Revenue from operations grew about 40.7% to ₹17,188.36 lakhs from ₹12,213.05 lakhs in FY24. Profit after tax jumped sharply to ₹1,513.11 lakhs from ₹239.20 lakhs (over 6x growth), lifting EPS to ₹21.39 from ₹3.90. The board also approved a preferential issue of up to 5,75,862 equity shares at ₹246 each (total ~₹14.17 crore), largely to promoter Mr. Ketan Moolchand Shah. The statutory auditor M/s Harsh Jain & Associates gave an unmodified (clean) opinion. Mr. Ketan Shah was reappointed as Chairman & CEO for five years, and various auditors were reappointed. An EGM is scheduled for June 21, 2025 to seek shareholder approval for the preferential issue.
Strong topline and bottomline growth signals a turnaround year, likely positive for the stock in the short term. However, the ₹14.17 crore preferential issue at ₹246/share (a steep premium to face value) to the promoter and select investors will dilute existing shareholders by about 7.4% of post-issue equity, which shareholders should weigh against the fresh capital being brought in.