Board approves FY26 results, massive loan-to-equity conversion
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Wherrelz IT Solutions' board approved FY26 audited results: net profit of Rs. 22.37 lakhs vs Rs. 894.36 lakh loss last year, on total income of Rs. 1,965.93 lakhs. Board also approved issuing up to 4.67 crore equity shares at Rs. 10 each to 7 non-promoter entities to convert ~Rs. 46.77 crore unsecured loans into equity. Authorized capital to rise from Rs. 50 lakhs to Rs. 48 crores. EGM set for May 18, 2026.
Debt-to-equity swap will dilute existing shares ~120x and shift control to 7 new non-promoter allottees. FY26 returned to profit but other equity still negative at Rs. 768.72 lakhs.