Texel Industries Limited has successfully completed the final warrant conversion for promoter Avani Shailesh Mehta, converting 1,72,875 fully convertible equity warrants into equity shares. The Finance and Investment Committee approved this conversion during their meeting held on April 16, 2026, following the receipt of the balance consideration amount from the warrant holder.

Final Warrant Conversion Details

The latest conversion involved 1,72,875 warrants being transformed into an equal number of equity shares at an issue price of ₹38.25 per share, including a premium of ₹28.25 each. The allottee, Avani Shailesh Mehta, who belongs to the promoter category, paid the remaining 75% of the full value consideration amounting to ₹49,59,351.56.

Updated Share Capital Structure

The final warrant conversion has resulted in a substantial increase in the company's paid-up equity share capital. The total paid-up capital has risen from ₹13,91,84,280 consisting of 1,39,18,428 fully paid-up equity shares to ₹14,09,13,030 consisting of 1,40,91,303 fully paid-up equity shares, each with a face value of ₹10.

Enhanced Promoter Shareholding

The conversion has significantly strengthened the shareholding pattern for Avani Shailesh Mehta in the promoter category. Her shareholding has increased from 6,01,059 shares representing 4.32% to 7,73,934 shares representing 5.49% of the total paid-up capital, demonstrating continued promoter confidence in the company.

Regulatory Framework and Completion

The warrant conversion was executed in full compliance with SEBI regulations and the SEBI ICDR Regulations. The original warrants were issued on October 05, 2024, following members' approval, in accordance with SEBI ICDR Regulations on a preferential basis. The warrants were issued with an 18-month conversion window, during which warrant holders could exercise their conversion rights by paying the remaining 75% of the consideration amount.

The newly allotted equity shares will rank pari-passu with the existing equity shares of the company, ensuring equal rights and privileges for all shareholders. This conversion represents the complete utilization of all warrant allocations for Avani Shailesh Mehta, with no warrants remaining pending for conversion. The company has successfully completed the warrant conversion process, strengthening its capital structure through active promoter participation.

Texel Industries Limited announced its unaudited financial results for the third quarter ended December 31, 2025, alongside significant management changes approved by the Board of Directors on February 4, 2026.

Financial Performance Overview

The company reported strong financial performance for Q3 FY26, demonstrating significant improvement across key metrics compared to the corresponding period last year.

For the nine months ended December 31, 2025, the company achieved revenue from operations of ₹7,544.03 lakhs and net profit after tax of ₹615.45 lakhs, compared to ₹7,761.64 lakhs and ₹105.78 lakhs respectively in the corresponding period of the previous year.

Segment-wise Performance

The company operates in two primary business segments: Technical Textile and Land, Building & Property Development.

The Land, Building & Property Development segment showed remarkable growth with revenue more than doubling from ₹185.00 lakhs to ₹384.94 lakhs year-on-year.

Key Management Changes

The Board approved significant changes in the company's leadership structure:

Mr. Parth Prakash Niphadkar will continue his employment with the company in his new role as Manager Sales, Marketing & Business Development. The newly appointed CFO, Mr. Hardik Parekh, brings over two decades of experience in finance, accounts, administration, and commercial operations across diverse industries. He holds an M.B.A. (Finance), Post Graduate Diploma in Human Resource Management (PGDHRM), along with M.Com and B.Com degrees.

Corporate Developments

The company had previously completed a significant capital raising exercise in October 2024, issuing 49,67,302 equity shares on a preferential basis at ₹38.25 per share, aggregating to ₹18,99,99,301.50. Additionally, 7,84,312 warrants convertible into equity shares were issued at the same price, with 25% of the warrant amount already received.

Regulatory Compliance

The financial results were prepared in accordance with Indian Accounting Standards (Ind AS) and reviewed by statutory auditors M/s Sunil Poddar & Co., Chartered Accountants, who expressed an unmodified opinion on both standalone and consolidated financial results. The Board meeting commenced at 6:30 p.m. and concluded at 7:15 p.m. on February 4, 2026.