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Swojas Foods Ltd's board approved raising up to Rs 79.99 crore by issuing 4.84 crore convertible equity warrants at Rs 16.50 each to 11 non-promoter allottees, with each warrant convertible into one equity share within 18 months. The board also approved unaudited financial results for Q2 and H1 FY26 (ended September 30, 2025), showing revenue from operations of Rs 78.29 lakh in Q2 FY26 vs Rs 6.67 crore in H1 FY26 (a massive jump from Rs 7.83 crore revenue in the year-ago half year, aided by prior-period recasting). Net profit for H1 FY26 was Rs 58.60 lakh (vs Rs 30.91 lakh in H1 FY25), while the auditor VSSB & Associates issued an unmodified limited review report. An EGM is scheduled on December 3, 2025 to seek shareholder approval for the preferential issue, and the company also regularised two independent directors and re-designated one to non-executive non-independent.
The Rs 80 crore warrant issue, if fully converted, will significantly dilute existing shareholders (warrants alone represent nearly 60% of the current share base) but brings in fresh capital. Existing shareholders will need to vote at the December 3 EGM; the stock may see short-term pressure from dilution even as the business shows revenue and profit growth.