Q1 FY27 results OK, Rs 10.23 cr rights issue at Rs 30 a share
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Board approved Q1 FY27 unaudited results. Revenue from operations rose to Rs 223.99 lakhs versus Rs 119.40 lakhs a year ago, up about 88 percent. Net profit fell to Rs 7.39 lakhs from Rs 17.45 lakhs due to a Rs 24.39 lakh exceptional charge. Board also approved a renounceable rights issue of up to 34.08 lakh shares at Rs 30 each, totalling about Rs 10.23 crores, in a 1 for 5 ratio. Funds are earmarked for the Ayodhya Nagari-I project. Auditors gave an unqualified limited review.
Strong revenue growth but weaker bottomline from exceptional charge. Rights issue at Rs 30 may cause short term dilution pressure.