Axentra Corp Limited (formerly Dugar Housing Developments Limited) reported a significant financial turnaround for the fiscal year ended March 31, 2026. The technology company posted a net profit of ₹104.11 lakh, a sharp increase from the ₹3.50 lakh profit recorded in FY25.

Revenue from operations climbed 3,342% year-on-year to ₹1,033.62 lakh, driven by its transition into an IT solutions provider. The company raised ₹3,108 lakh through equity issues during the year, strengthening its balance sheet ahead of strategic acquisitions.

Financial Performance

The company's total income reached ₹1,075.07 lakh compared to ₹30.23 lakh in the previous year. Operating expenses stood at ₹962.83 lakh, primarily due to professional fees and employee benefits as the firm built its new operational structure.

Strategic Acquisitions and Capital Raise

Axentra completed two preferential issues during FY26, raising approximately ₹31.3 crore (₹313 lakh) in fresh capital. This funding recapitalized the company and supported its first major acquisition.

Shortly after the fiscal year-end, Axentra acquired a 51% interest in Fore Solutions Private Limited, a North India systems integrator. Fore Solutions brings annual revenue of approximately ₹127 crore and elite-tier partnerships with leading OEMs, including NVIDIA. The acquisition provides Axentra with an immediate operating platform in AI infrastructure.

What the Numbers Show

The financial results highlight a complete pivot from the company's dormant real estate past to an active technology business. While revenue grew substantially, professional fees accounted for ₹862.09 lakh of total expenses, representing roughly 89% of the cost base. This indicates that the initial growth phase is heavily reliant on external consulting and professional services rather than organic operational scaling. Additionally, trade receivables surged to ₹1,041.20 lakh, nearly matching total revenue, suggesting aggressive billing cycles or extended credit terms as the company establishes its market presence.

Balance Sheet Strength

The capital infusion transformed the company's net worth from a negative ₹(86.93) lakh in FY25 to a positive ₹3,125.18 lakh in FY26. Cash and bank balances increased dramatically to ₹3,062.80 lakh from just ₹0.25 lakh a year prior, providing ample liquidity for future integrations and working capital requirements.

Axentra Corp Limited secured a 100% stake in Australian AI infrastructure firm Emageia Pty Ltd for a total consideration of ₹37.13 crore. The deal, approved by the board on September 7, 2026, combines a cash payment of ₹18.09 crore with a share swap valued at ₹19.04 crore.

The acquisition marks Axentra’s strategic entry into the AI and enterprise IT infrastructure space. Emageia, operating under the brand Kyber Marketplace, reported total revenue of AUD 10.17 lakh for the year ended March 31, 2026. This represents a significant jump from AUD 2.90 lakh in FY25, signaling rapid early-stage growth for the target entity.

Capital Raise and Share Issuance

To fund the transaction and expand its capital base, Axentra increased its authorized share capital from ₹35 crore to ₹70 crore. The company also approved a preferential issue of securities at ₹27 per unit:

• Share Swap: 70.53 lakh equity shares issued to TK7 Holdings Pty Ltd (sole shareholder of Emageia) in lieu of cash consideration.
• Cash Equity: 1.26 crore equity shares allotted to public investors and promoters.
• Convertible Warrants: 1.82 crore warrants issued to promoters and public investors, convertible into equity within 18 months.

What the Numbers Show

The acquisition structure reveals a heavy reliance on equity dilution to minimize immediate cash outflow. Of the ₹37.13 crore total purchase price, approximately 51% was settled through the issuance of new shares rather than cash. This allows Axentra to preserve liquidity while integrating Emageia’s recurring revenue model from proprietary software tools.

Corporate Governance Updates

The board also approved the reappointment of M/S M Sahu & Co as statutory auditors for four years, until the conclusion of the AGM for FY30. The 34th Annual General Meeting is scheduled for September 30, 2026, in Chennai. The share transfer books will remain closed from September 24 to September 30, 2026.