Foseco India Limited has issued a significant update regarding its upcoming Extra-Ordinary General Meeting (EGM) scheduled for September 21, 2025. The company has released a corrigendum to the original EGM notice, revising the preferential issue price of equity shares to ₹5,674.12 per share.

Revision Following NSE Clarifications

The revision comes in response to clarifications requested by the National Stock Exchange of India (NSE) after Foseco India filed applications with both BSE Limited and NSE seeking in-principle approval for the proposed preferential issue. This move underscores the company's commitment to regulatory compliance and transparency in its corporate actions.

Key Updates in the Corrigendum

The corrigendum, issued on September 17, 2025, includes several important modifications to the original EGM notice:

1. Revised Issue Price: The preferential issue price has been updated to ₹5,674.12 per equity share.

2. Valuation Reports: The company has added information about the availability of valuation reports on its website, enhancing transparency for shareholders.

3. No Prior Preferential Allotments: Foseco India confirmed that no preferential allotments were made during the financial year ending December 31, 2024, or up to September 17, 2025.

4. Certificate from Practicing Company Secretary: A certificate confirming compliance with SEBI regulations for the preferential issue will be available for electronic inspection by members.

EGM Details

The Extra-Ordinary General Meeting is set to take place on Sunday, September 21, 2025, at 11:00 AM IST. The meeting will be conducted through video conferencing (VC) or other audio-visual means (OAVM).

Implications for Shareholders

This revision in the preferential issue price is a crucial piece of information for Foseco India's shareholders. It affects the valuation of the new shares to be issued and may impact existing shareholders' decisions regarding the preferential issue.

The corrigendum forms an integral part of the original EGM notice, and shareholders are advised to consider this updated information when reviewing the meeting agenda and making decisions.

Foseco India Limited has made the corrigendum available on its website and the websites of BSE, NSE, and the National Securities Depository Limited (NSDL) to ensure wide dissemination of this important update.

As the EGM approaches, shareholders will be closely watching how this revised preferential issue price impacts the company's capital raising efforts and overall financial strategy.

Foseco India Limited , a leading manufacturer of products for the foundry industry, has reported a robust financial performance for the quarter ended March 31, 2024. The company's unaudited financial results, approved by the Board of Directors on April 30, 2024, show significant growth in both revenue and profitability.

Financial Highlights

All financial figures in Rs lakhs, except EPS in Rs

Revenue and Profitability

Foseco India demonstrated strong growth in its top line, with revenue from operations increasing by 10.5% compared to the same quarter in the previous year. This growth in revenue contributed to the company's improved profitability, as evidenced by the 11.3% rise in net profit.

Operational Performance

The company's total expenses for the quarter stood at Rs 10,487.16 lakhs. The largest component of these expenses was the cost of materials consumed, which amounted to Rs 5,750.74 lakhs. This indicates that Foseco India has managed to maintain efficient cost control while driving revenue growth.

Earnings Per Share

The company's earnings per share (EPS) showed a notable improvement, rising to Rs 24.81 from Rs 22.29 in the same quarter last year. This 11.3% increase in EPS reflects the company's enhanced profitability and potentially indicates improved returns for shareholders.

Audit and Review Process

The financial results were reviewed by the Audit Committee before being approved by the Board of Directors. Additionally, statutory auditors Price Waterhouse Chartered Accountants LLP conducted a limited review of the results and issued an unmodified report, providing assurance on the accuracy of the financial statements.

Conclusion

Foseco India Limited's financial performance for the quarter ended March 31, 2024, demonstrates the company's ability to grow its revenue and profitability in a competitive market. The significant improvements in net profit and earnings per share highlight the company's operational efficiency and potential for sustained growth in the foundry industry sector.