1. Approved the Prior Approval Regarding Raising of Funds through Secured/Unsecured Loan with an Option to Conversion into Equity Shares subject to approval of shareholders; 2. Consideration ....
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The board of Wherrelz IT Solutions, held on November 6, 2025, approved raising of funds through secured or unsecured loans which carry an option to convert into equity shares, subject to shareholder approval via postal ballot. The board also approved unaudited financial results for the half year ended September 30, 2025, showing a turnaround — net profit of Rs 23.35 lakhs against a loss of Rs 919.86 lakhs in H2 FY25, on revenue of Rs 1,278.55 lakhs versus a negative Rs 745.22 lakhs in the prior period. Total expenses rose sharply to Rs 1,253.95 lakhs. The balance sheet shows total assets of Rs 4,993.56 lakhs, short-term borrowings of Rs 5,219.88 lakhs, and a fresh 'share issue against warrant' entry of Rs 4,677.03 lakhs, indicating warrant conversion during the period. Postal ballot notice and scrutinizer appointment were also approved.
The proposed loan-with-conversion route gives lenders an upside via equity and signals potential dilution later, but it first needs shareholder nod. The H1 results show operational recovery back to profit, though the other equity remains deeply negative at Rs (766.03) lakhs and cash balances are thin at Rs 8.44 lakhs against heavy short-term borrowings — a key risk shareholders should watch.