California Software Company Limited's Board of Directors has approved a significant extension for shareholders to complete payment of the First and Final Call on partly paid-up equity shares. The decision, taken at a board meeting held on March 02, 2026, provides relief to shareholders who had requested additional time for payment.

Extended Payment Timeline

The board has extended the payment period for the First and Final Call, which was originally due on March 02, 2026. The new payment window will be available from Wednesday, March 11, 2026 to Friday, May 08, 2026 (both days inclusive).

Interest and Payment Terms

Shareholders who make payments during the extended period will be charged interest at the rate of 10% per annum on the unpaid call money. This interest will be calculated from March 02, 2026, the original due date, until the date of actual payment. The company has clarified that the extension does not waive its right to levy interest from the original due date.

Background and Rationale

The extension decision was made after considering representations received from certain shareholders seeking additional time for payment. The board took into account the prevailing market environment and liquidity conditions when making this decision. The company stated that the extension aims to ensure equitable opportunity to all shareholders and facilitate smooth completion of the Rights Issue.

The First and Final Call relates to partly paid-up equity shares issued pursuant to the company's Rights Issue, which was conducted in accordance with the terms of the Letter of Offer dated January 07, 2025.

Trading Status and Administrative Details

The ISIN IN9526B01012 representing partly paid-up equity shares will continue to remain suspended from trading in accordance with applicable regulations and stock exchange procedures. Trading will remain suspended until completion of the First and Final Call process.

The Record Date for determining eligible holders of partly paid-up equity shares, previously fixed as February 05, 2026, remains unchanged. A detailed Extension Notice containing revised payment instructions will be dispatched to eligible shareholders and made available on the company's website, the registrar's website, and stock exchange platforms.

The board meeting commenced at 05:30 P.M. and concluded at 07:30 P.M. on March 02, 2026. The decision was communicated to both NSE and BSE as per regulatory requirements under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

California Software Company Limited has delivered impressive financial performance in Q3FY26, with the Board of Directors approving the unaudited standalone and consolidated financial results for the quarter ended December 31, 2025, during their meeting held on February 14, 2026.

Strong Revenue and Profitability Growth

The company demonstrated robust operational performance with significant improvements across key financial metrics. Revenue from operations showed strong momentum, while profitability metrics exceeded expectations substantially.

Nine-Month Performance Overview

The company's nine-month performance for the period ended December 31, 2025, further reinforced the positive trajectory. Total income reached ₹563.12 lakhs compared to ₹345.68 lakhs in the corresponding period last year, marking a growth of 62.9%. Net profit for the nine-month period stood at ₹142.94 lakhs, significantly higher than ₹45.39 lakhs achieved in the same period of the previous year.

Expense Management and Operational Efficiency

The company maintained disciplined expense management during the quarter. Employee benefits expense was ₹81.60 lakhs, while other expenses totaled ₹22.01 lakhs. Depreciation and amortization expense remained stable at ₹14.22 lakhs. Total expenses for the quarter amounted to ₹117.82 lakhs compared to ₹103.50 lakhs in Q3FY25.

Auditor Qualifications and Key Concerns

K. Gopal Rao & Co., the company's auditors, issued a qualified review report highlighting several areas requiring attention:

Regulatory Compliance and Business Operations

California Software Company operates primarily in the IT and software development business. The company noted that input tax credit reconciliation for the nine months ended December 2025 is pending, and TDS liability compliance is expected to be completed with interest. The paid-up equity share capital stands at ₹6,182.8 lakhs with a face value of ₹10 per share.

Corporate Governance

The financial results were reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on February 14, 2026. The board meeting commenced at 16:00 hours and concluded at 18:30 hours, with Dr. Vasudevan Mahalingam serving as Managing Director. The results were submitted to stock exchanges under Regulation 33 of SEBI Listing Regulations.