Extra Ordinary General Meeting Intimation
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Awaiting price reaction for this filing.
Swojas Foods' board approved raising up to ₹79.99 crore by issuing 4.84 crore convertible equity warrants at ₹16.50 each to 11 non-promoter allottees on a preferential basis; each warrant can be converted into one equity share (face value ₹10) within 18 months, with 25% payable upfront and 75% on conversion. The company also reported its Q2 FY26 results, showing revenue from operations jumping to ₹35.25 crore (vs ₹7.83 crore in Q2 FY25) and H1 FY26 revenue at ₹66.68 crore (vs ₹7.83 crore), though PAT grew only modestly to ₹58.60 lakhs for H1 FY26 (vs ₹30.91 lakhs), indicating thin margins on the higher turnover. The board also approved regularization of two additional independent directors (Ranu Jain and Abhay Kumar Sethia) and re-designation of Pallav Dave from Independent Director to Non-Executive Non-Independent Director. An EGM has been scheduled for December 3, 2025 (via video conferencing) to seek shareholder approval for the preferential issue and director changes, with November 26, 2025 set as the record date.
The preferential issue of 4.84 crore warrants represents a substantial potential dilution for existing shareholders once converted, though it brings in fresh capital for the company. The dramatic revenue growth with barely improved profitability is a yellow flag — investors should watch whether this scale-up translates into sustainable margins. Shareholders should review the EGM agenda (December 3, 2025) and exercise their vote via e-voting between November 29 and December 2, 2025.