Prostarm Info Systems Limited has announced the convening of its 19th Annual General Meeting (AGM) on September 11, 2026, at 3:00 pm IST. The meeting will be conducted through Video Conferencing or Other Audio-Visual Means in accordance with Ministry of Corporate Affairs circulars. The primary focus of the gathering is to secure shareholder approval for significant corporate actions, including a capital raise via convertible warrants and an expansion of the company’s legal business objects.

Preferential Issue of Convertible Warrants

The Board of Directors has approved the issuance of up to 29,43,717 convertible warrants on a preferential basis to non-promoter allottees. The total aggregate consideration for the issue is up to ₹43,27,26,399 (approximately ₹43.27 crore). Each warrant carries a right to subscribe to one fully paid-up equity share of face value ₹10 each at a premium of ₹137 per share upon conversion.

The warrants are priced at ₹147 each, which is higher than the floor price of ₹146.94 determined based on the 90-trading-day volume-weighted average price on the National Stock Exchange. The proceeds from this issue are intended primarily for meeting the company’s working capital requirements, including day-to-day operational needs and procurement expenditures. The company will receive 25% of the issue price upfront at the time of allotment, with the remaining 75% payable by warrant holders upon exercise within 18 months.

Key Terms of the Issue

The proposed allottees belong to the non-promoter category and include individuals such as Mrs. Reshma Chapra, Mr. Pranjal Mukesh Jain, and Mrs. Pushpa Rani Bakliwal. The issue does not result in any change in control or management of the company, as no promoter or director intends to subscribe to the warrants.

Alteration of Memorandum of Association

Shareholders will also be asked to approve a special resolution to alter the main object clause of the Memorandum of Association. This amendment aims to expressly authorize the company to undertake end-to-end system integration, information technology infrastructure solutions, and digital technology services.

The expanded scope includes designing, engineering, and managing hardware, software, cloud, data center, cybersecurity, and artificial intelligence solutions. This strategic shift aligns with the company’s long-term growth strategy to capitalize on emerging opportunities in digital infrastructure and renewable energy integration. The alteration provides the necessary legal flexibility to participate in new business projects and diversify service offerings beyond its traditional power electronics portfolio.

Other Business Items

The AGM notice includes several ordinary business items. Shareholders will receive, consider, and adopt the audited standalone and consolidated financial statements for the financial year ended March 31, 2026. Mr. Ram Agarwal, Whole-Time Director & CEO, who retires by rotation, has offered himself for re-appointment as a director.

Additionally, the meeting will ratify the remuneration payable to M/s Y R Doshi & Company as Cost Auditors for FY26-27, capped at ₹70,000 plus applicable taxes. The Board has also recommended the appointment of M/s Valawat and Associates as Statutory Auditors for a five-year term commencing from the conclusion of this AGM, replacing M/s Mansaka Ravi & Associates who are completing their second term.

What the Numbers Show

The decision to raise approximately ₹43.27 crore through convertible warrants specifically for working capital highlights the company’s focus on strengthening its liquidity position ahead of potential expansion. With the IPO completed in June 2025 raising ₹168 crore, this subsequent capital raise suggests ongoing operational funding needs, likely tied to the execution of large-scale projects in its order book. The use of convertible warrants rather than direct equity allows the company to defer immediate dilution, linking final equity issuance to future investor confidence over the 18-month exercise window.

Prostarm Info Systems Limited reported a sharp expansion in profitability for the quarter ended June 30, 2026, with consolidated net profit attributable to owners rising 151% year-on-year to ₹45.8 crore. This performance was underpinned by a 38% increase in consolidated revenue from operations, which reached ₹760.5 crore, compared to ₹549.1 crore in the same period last year.

The results were reviewed by the Audit Committee and approved by the Board of Directors on August 12, 2026, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. An earnings conference call was held on August 13, 2026, featuring Chief Executive Officer Ram Agarwal and Chief Financial Officer Abhishek Jain.

Financial Performance

Consolidated revenue from operations stood at ₹760.48 crore for Q1FY27, up from ₹549.14 crore in Q1FY26. Total income reached ₹785.79 crore. Operating expenses totaled ₹724.37 crore, resulting in a profit before tax of ₹61.42 crore. After accounting for tax expenses, the net profit for the period was ₹45.79 crore.

On a standalone basis, revenue from operations grew 49% to ₹758.22 crore from ₹509.76 crore in the previous year. Standalone net profit increased 221% to ₹50.13 crore. Earnings per share (basic) were ₹0.78 on a consolidated basis and ₹0.85 on a standalone basis.

What the Numbers Show

The divergence between revenue growth and profit expansion highlights improved operational leverage. While consolidated revenue grew 38%, net profit more than doubled, indicating that cost structures did not scale linearly with income. Employee benefit expenses rose 14% to ₹74.38 crore (consolidated), lagging behind revenue growth, which contributed to margin expansion. Additionally, EBITDA margin improved by 126 bps YoY to 8.55% from 7.29%, supported by higher revenue efficiency.

Corporate Developments

The board approved several key resolutions during its meeting on August 12, 2026:

• Preferential Allotment: The company will issue up to 29,43,717 fully convertible warrants (FCWs) at ₹147 per warrant, aggregating up to ₹43.27 crore. The allotment is to non-promoter investors including Mrs. Pushpa Rani Bakliwal, Mr. Amol Satish Godha, and others. Each warrant converts into one equity share of face value ₹10 within 18 months. The proceeds are intended for working capital requirements.
• Statutory Auditor Appointment: M/s. Valawat and Associates has been appointed as statutory auditors for five years, subject to member approval at the AGM. The proposed remuneration is ₹10.5 lakh plus applicable taxes.
• MOA Alteration: The object clause of the Memorandum of Association will be altered to include end-to-end system integration, IT infrastructure solutions, and digital technology services. This expansion explicitly covers Battery Energy Storage Systems (BESS), Artificial Intelligence (AI), Machine Learning (ML), Industrial Automation, Smart Infrastructure, and Renewable Energy Integration.
• AGM Details: The 19th Annual General Meeting is scheduled for September 11, 2026, at 3:00 pm through Video Conferencing/Other Audio-Visual Means. The register of members will remain closed from September 5, 2026, to September 11, 2026. Remote e-voting will commence on September 8, 2026, at 9:00 am and end on September 10, 2026, at 5:00 pm.
• Operational Update: Relocation of certain business operations is substantially ready, with commencement expected by September 30, 2026, pending regulatory approvals.

Investor Presentation Highlights

Prostarm Info Systems released its investor presentation for Q1FY26, detailing business segments and order book status. The company operates through four main segments: Manufactured Power Solution Products (28% of revenue), Third Party Power Solution Products & Other Products (30%), BESS-EPC (40%), and Value-Added Services (1%).

Key operational highlights include:

• Order Book: As of June 2026, the company holds an order book of ₹10,852 crore across 117 projects, with an additional ₹50 crore in L1 status orders. The BESS segment dominates the order book with ₹8,754 crore, followed by Solar EPC Contracts at ₹1,851 crore.
• Manufacturing Expansion: The 1.2 GWh Jhajjar BESS facility is nearing commissioning, expected to enhance manufacturing capacity for large-scale energy storage solutions. A new UPS manufacturing facility in Bakrol, Gujarat, is also underway, expected to be operational by Q2FY27.
• Strategic Wins: The company secured multiple strategic orders in Q1FY27, including ₹113 crore in BESS projects from a reputed corporate and a ₹1,650 crore Solar EPC order from Solarium Green Energy.
• Digitisation: SAP and Salesforce implementation is nearing completion, expected to be operational by the end of H1FY27.

The presentation underscores the company's focus on reducing working capital cycles, rationalizing indebtedness, and expanding capabilities through inorganic and organic growth, targeting the projected 236 GWh BESS demand by 2032.