Kamdhenu Limited has announced the lapse of 27,50,000 warrants after allottees failed to exercise their conversion option within the stipulated 18-month period. The company has consequently forfeited Rs 13.21 crore, representing 25% of the issue price collected upfront during the warrant allotment.

Warrant Details and Lapse

The warrants, initially allotted on February 22, 2024, had a conversion deadline of August 22, 2025. As per the company's official intimation to the stock exchanges, the warrants have officially lapsed effective August 23, 2025, following the allottees' failure to exercise their conversion rights into equity shares.

Entities Involved and Forfeiture Breakdown

Four entities were involved in this warrant issue, with varying numbers of unexercised warrants and corresponding forfeiture amounts:

Regulatory Compliance

Kamdhenu Limited has made this disclosure in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's Company Secretary and Compliance Officer, Khem Chand, confirmed that the upfront amount stands forfeited as per the SEBI (Issue of Capital and Disclosure Requirement) Regulations, 2018.

Impact on Share Capital

The lapse of these warrants means that the potential dilution of equity that would have occurred upon their conversion has been averted. Kamdhenu Limited's existing shareholders will not face the dilution that would have resulted from the issuance of 27.5 lakh new equity shares.

This development underscores the importance of timely decision-making by warrant holders and highlights the financial implications of not exercising conversion rights within the specified period.

Kamdhenu Limited , a leading steel products manufacturer, has announced a robust financial performance for the first quarter. The company's unaudited financial results, approved by its Board of Directors on August 11, showcase significant growth across key financial metrics.

Financial Highlights

• Net Profit: Rs 2,142.39 lakhs, up 38.8% year-over-year
• Revenue from Operations: Rs 19,577.81 lakhs, a 6.1% increase from the previous year
• Total Comprehensive Income: Rs 2,205.41 lakhs, compared to Rs 1,513.48 lakhs in the corresponding quarter
• Earnings per Share: Rs 0.76, up from Rs 0.57 in the corresponding quarter

The company's performance demonstrates strong growth, with net profit increasing by 38.8% compared to the same quarter last year. Revenue from operations also saw a healthy rise of 6.1%, indicating improved market demand for Kamdhenu's products.

Capital Structure and Fundraising

In a significant development, Kamdhenu Limited completed the allotment of 40,00,000 equity shares on April 19, following the conversion of warrants. This move increased the company's paid-up equity share capital to Rs 2,813.83 lakhs from Rs 2,773.83 lakhs. The company raised Rs 1,059 lakhs through this conversion, with plans to utilize the funds for capital expenditure and general corporate purposes.

Corporate Governance and Future Plans

The Board of Directors has announced plans to convene the company's 31st Annual General Meeting (AGM) through video conferencing, adhering to guidelines set by regulatory authorities. The specific date and time for the AGM will be communicated separately.

Additionally, Kamdhenu Limited has made strategic appointments to strengthen its corporate governance:

• M/s TATTVAM & Co., Chartered Accountants, appointed as Internal Auditors for the upcoming fiscal year
• Re-appointment of key executives, including Shri Satish Kumar Agarwal as Chairman & Managing Director, and Shri Sunil Kumar Agarwal and Shri Sachin Agarwal as Whole Time Directors, for a term of three years from April 1, 2026
• Re-appointment of Shri Baldev Raj Sachdeva as an Independent Director for a second term of five years from May 2, 2026

These appointments and re-appointments are subject to shareholder approval at the upcoming AGM.

Market Position and Outlook

Kamdhenu Limited continues to maintain its position as a significant player in the steel products manufacturing sector. The company's strong financial performance, coupled with strategic corporate actions, indicates a positive outlook for the fiscal year ahead. The management's focus on corporate governance and expansion of production capabilities positions Kamdhenu well for sustained growth in the competitive steel market.

Investors and stakeholders can access the detailed financial results on the company's website and the stock exchanges where Kamdhenu Limited is listed.