Outcome of Board meeting
Price
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Awaiting price reaction for this filing.
The board approved standalone unaudited results for Q1 FY26 (quarter ended June 30, 2025). Net sales were Rs. 208.25 lakhs, but cost of traded goods at Rs. 335.96 lakhs pushed the company to a net loss of Rs. 142 lakhs, widening from a Rs. 23.82 lakh loss in Q1 FY25. Total income fell ~27% YoY to Rs. 343.09 lakhs, and finance costs nearly tripled to Rs. 59.43 lakhs. The board approved entry into Maharashtra's liquor market with MML brands (Whisky, Rum, Vodka), using its 30,000 sq ft bottling capacity. Additionally, 2.10 crore warrants held by promoter Rajshekhar Nair were converted into equity shares, raising paid-up capital from Rs. 13.48 crore to Rs. 15.58 crore (~15.6% dilution). Rs. 1.57 crore of the promoter's earlier unsecured loan to the company was adjusted against the 75% warrant exercise price.
For shareholders, the results signal ongoing stress — widening losses, high finance costs, and a thin operating margin profile (cost of traded goods exceeding sales). The liquor foray and equity infusion are the key forward catalysts, but the capital raise involves a related-party loan adjustment, which investors should monitor. Dilution of ~15.6% is meaningful for minority holders.