GSL Securities Reports Q1 Loss, Approves Rs 4.25 Crore Preferential Share Issue

1 min read Updated on 02 Aug 2025, 01:55 PM

Reviewed by

Radhika SScanX News Team

Overview

Gsl Securities Ltd announced a net loss of Rs 6.98 lakhs for Q1, slightly improved from Rs 7.87 lakhs loss in the previous year. The board approved a preferential issue of 10,25,100 equity shares at Rs 41.50 per share to raise Rs 4,25,41,650 from three non-promoter strategic investors. Each investor will receive a 7.99% stake post-allotment. The company also made key corporate governance decisions, including re-appointing Santkumar Bagrodia as Managing Director and approving voluntary delisting from the Calcutta Stock Exchange. An Annual General Meeting is scheduled for August 30 to address these actions.

*this image is generated using AI for illustrative purposes only.

Gsl Securities Ltd has announced its financial results for the first quarter, along with several key corporate decisions. The company's board meeting, held on August 2, approved various measures aimed at restructuring and strengthening its financial position.

Financial Performance

Gsl Securities reported a net loss of Rs 6.98 lakhs for Q1, showing a slight improvement from the Rs 7.87 lakhs loss in the corresponding quarter of the previous year. The company's financial results reveal zero revenue from operations during the quarter, indicating ongoing challenges in its core business activities.

Particulars (Rs. in Lakhs)	Q1 Current	Q1 Previous
Revenue from Operations	0.00	0.00
Total Income	0.70	1.51
Total Expenses	7.68	9.38
Net Profit/(Loss)	(6.98)	(7.87)

Preferential Share Issue

In a significant move to raise capital, the board has approved a preferential issue of 10,25,100 equity shares at Rs 41.50 per share. This issue aims to raise Rs 4,25,41,650 from three non-promoter strategic investors:

Shrikant Mitesh Bhangdiya
Aarti Shrikant Bhangdiya
Sonal Kirtikumar Bhangdiya

Each investor will receive 3,41,700 shares, representing a 7.99% stake in the company post-allotment. This decision is subject to shareholder approval at the upcoming Annual General Meeting (AGM).

Corporate Governance and Management Changes

The board has made several key decisions to strengthen its corporate governance:

Re-appointment of Santkumar Bagrodia as Managing Director for one year from October 1, subject to shareholder approval.
Adoption of a new set of Articles of Association in line with the Companies Act, 2013.
Approval for voluntary delisting from the Calcutta Stock Exchange while maintaining listing on the BSE.
Re-appointment of M/s. Shiv Hari Jalan & Co. as Secretarial Auditors.

Upcoming Annual General Meeting

The company has scheduled its Annual General Meeting for August 30, at its registered office in Mumbai. The AGM will address these significant corporate actions and seek necessary approvals from shareholders.

Gsl Securities' moves to raise capital through preferential issue and streamline its corporate structure indicate efforts to navigate challenging market conditions and position the company for potential future growth.

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