Conversion of 4,50,477 warrants into 4,50,477 equity shares of face value of Rs. 10/- each.
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Trident Texofab's board, at its May 29, 2025 meeting, approved the conversion of 4,50,477 warrants into an equal number of equity shares of Rs. 10 face value at Rs. 70 per share (Rs. 60 premium), allotted to two non-promoter public category allottees — Jinesh Kamal Jain and Maulik H Bandhara. The company received Rs. 2.36 crore as the balance 75% payment for these warrants. Consequently, paid-up equity capital rose to Rs. 14.51 crore comprising 1.45 crore shares, with 13.93 lakh warrants still pending conversion. The board also approved audited FY25 results showing total income of Rs. 125.36 crore (up from Rs. 99.87 crore), profit after tax of Rs. 2.51 crore (up from Rs. 1.08 crore), and EPS of Rs. 2.38. Additionally, M/s. Purushottam Khandelwal & Co. was appointed as Internal Auditor for FY26.
The warrant conversion leads to equity dilution of about 3.2% and brings in roughly Rs. 2.36 crore of fresh capital, modestly strengthening the company's equity base. Improved FY25 profitability and clean audit opinion are positive signals, though remaining warrants still pending conversion could cause further dilution over the next 18 months.