Vishnu Prakash R Punglia Limited has scheduled its 13th Annual General Meeting for September 30, 2026, to approve a ₹80.2 crore preferential issue of fully convertible warrants and increase its authorized share capital to ₹200 crore.

The infrastructure and engineering firm will hold the meeting via video conferencing. Shareholders will vote on several special resolutions, including the issuance of 2.11 crore warrants at ₹38 each to non-promoter public investors. The company plans to utilize ₹60.2 crore of the proceeds for working capital requirements and ongoing projects, with the remaining ₹20.1 crore allocated for general corporate purposes.

Capital Structure Changes

The Board seeks approval to raise the authorized share capital from ₹150 crore to ₹200 crore by creating 5 crore additional equity shares of ₹10 face value each. This move aims to provide flexibility for future fundraising activities.

Additionally, shareholders will decide on enabling the conversion of outstanding unsecured loans from directors-cum-promoters into equity shares. The facility allows promoters to adjust loans up to ₹200 crore towards subscription in future fund-raising events, subject to regulatory approvals.

Director Remuneration and Re-appointment

The AGM agenda includes the re-appointment of directors Sanjay Kumar Punglia and Ajay Pungalia, who retire by rotation. Members will also ratify remuneration for whole-time directors Vishnu Prakash Punglia, Sanjay Kumar Punglia, Kamal Kishor Pungalia, and Ajay Pungalia in the event of absence or inadequacy of profits for the period ending September 29, 2028.

What the Numbers Show

The company reported a net loss of ₹1,772.6 million in FY26, a reversal from the profit of ₹585.96 million recorded in FY25. This decline coincided with a revenue contraction from ₹12,461.98 million in FY25 to ₹8,613.95 million in FY26. The operating margin turned negative at -9.65% in FY26, compared to 12.56% in the prior year. The explanatory statement attributes the loss to slowed work certification and payment releases from government departments across principal markets.

Voting Details

Remote e-voting will be available from September 27, 2026, at 9:00 am until September 29, 2026, at 5:00 pm. The record date for determining voting eligibility is September 23, 2026.

Vishnu Prakash R Punglia has secured board approval to issue fully convertible warrants worth up to ₹1 billion. The decision was taken during the board meeting held on September 5, 2026, which had been scheduled to consider fundraising through preferential allotment.

Board approval for warrant issuance

The board of Vishnu Prakash R Punglia approved the issuance of fully convertible warrants as part of its fundraising strategy. This follows the agenda set for the September 5 meeting under Regulation 29(1)(a) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The approval marks a concrete step in the company's capital raising efforts. While the initial agenda listed the consideration of preferential warrant issuance, the outcome confirms the board's intent to proceed with fully convertible instruments. This mechanism allows the company to raise capital from select investors, with the warrants eventually converting into equity shares subject to applicable terms and regulatory approvals.