New Markets Avenue will convene a board meeting on July 4, 2026, to consider the conversion of 53,00,000 convertible warrants into equity shares. The conversion will be executed at a face value of ₹10 each on a preferential basis to non-promoters. This decision follows a special resolution passed by shareholders at an Extraordinary General Meeting held on July 31, 2025, and subsequent in-principle approval from the BSE dated October 20, 2025.

The meeting will also deliberate on the appointment of M/s. Ramesh Chandra Bagdi & Associates as the secretarial auditor for the company. The agenda includes any other matters with the permission of the chair.

The table below details the warrant holders and the proposed conversion:

The board meeting is scheduled to take place at the company's registered office in Mumbai. The conversion of warrants will increase the company's equity share capital.

New Markets Avenue Limited reported a net loss of ₹31.75 lakh for the financial year ended March 31, 2026, reversing the net profit of ₹1.64 lakh recorded in the previous year. The company's revenue from operations fell to ₹19.25 lakh in FY26 from ₹20.90 lakh in FY25. Total expenses for the year increased significantly to ₹51.34 lakh, compared to ₹19.26 lakh in the prior year, primarily driven by higher employee benefit costs and other expenses.

The Board of Directors approved the audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 28, 2026. The statutory auditors, Suvarna & Katdare, Chartered Accountants, issued an unmodified opinion on the annual audited financial results. The company also disclosed a statement on deviation or variation of funds under Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, confirming no deviation in the utilization of funds raised via a preferential issue in November 2025.

Financial Performance for FY26

The company's financial performance for the year reflects a contraction in top-line growth and a widening of losses. For the quarter ended March 31, 2026, the company reported a net loss of ₹12.58 lakh, with revenue from operations remaining nil. Other income for the quarter stood at ₹0.34 lakh.

Capital Structure and Fund Utilization

During the financial year, the company issued 90,00,000 warrants at an issue price of ₹10 per warrant. As of the reporting date, 37,00,000 warrants were converted into equity shares, while 53,00,000 warrants remained unconverted. Consequently, the paid-up equity share capital increased to ₹626.50 lakh as of March 31, 2026, from ₹124.00 lakh in the previous year.

The company raised ₹5,02,50,000 through a preferential issue on November 27, 2025. The funds were utilized for working capital requirements and pre-operative expenses, totaling ₹1,98,15,238 as of March 31, 2026. The statement on deviation or variation confirmed that there was no deviation in the use of funds raised.