Afcom Holdings board approved the audited financial statements and annual report for FY26 on August 31, 2026. The meeting also sanctioned the conversion of 2 lakh convertible warrants into equity shares.

The company’s paid-up equity share capital increased from 2,87,13,616 shares to 2,89,13,616 shares, valued at ₹29.89 crore. This follows the exercise of warrants by two public category allottees, Rupal Mehta and Yash Jasbir Oberoi, who each converted 1 lakh warrants. The conversion was executed at an issue price of ₹863.17 per share, with the balance amount of ₹647.37 per warrant received upon exercise.

Corporate Governance and Board Actions

The board recommended the re-appointment of M/s. PPN & Co., Chartered Accountants, as statutory auditors for a term spanning from the conclusion of the 13th AGM until the 15th AGM. Additionally, the re-appointment of Mr. Jaganmohan Manthena as a Non-Executive Director was approved, subject to shareholder consent.

Remuneration revisions for Chairman and Managing Director Capt. Deepak Parasuraman and Whole-Time Director Mr. Kannan Ramakrishnan were also recommended for member approval. An Investment Committee comprising Capt. Deepak Parasuraman and Mr. Kannan Ramakrishnan was constituted to evaluate investment proposals.

Strategic Initiatives and Capital Structure

The board authorized the increase of authorized capital from ₹30 crore to ₹40 crore, comprising 4 crore equity shares of face value ₹10 each. Concurrently, the borrowing limit was enhanced to ₹500 crore under Section 180(1)(c) of the Companies Act, 2013.

Strategic expansion plans include proposed investments in Afcom Cargo FZCO, involving the induction of strategic investors and potential shareholding restructuring. The remaining unconverted warrants can be exercised by June 17, 2027.

What the Numbers Show

The conversion of 2 lakh warrants represents a partial realization of the 11.65 lakh warrants allotted in December 2025. With only two holders exercising their rights so far, the majority of the convertible instruments remain outstanding, indicating potential future dilution or capital inflow depending on market conditions and holder decisions.

Afcom Holdings Limited has scheduled a board meeting for Monday, August 31, 2026. The session will focus on convening the thirteenth annual general meeting and approving an employee stock option scheme.

The company notified BSE Limited under Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was issued on August 26, 2026.

Agenda Highlights

The Board of Directors will consider and approve or recommend the following matters:

• Convening of the thirteenth annual general meeting and approval of its notice and annual report.
• Approval for the upper limit, formulation, and implementation of employee stock option schemes, subject to required legal approvals.

The board will also address other routine and statutory matters as per the agenda.

Ajith Kumar, Company Secretary and Compliance Officer, signed the disclosure.