Odyssey Corporation Limited has successfully completed the conversion of 66,00,000 convertible warrants into equity shares, as approved by its Board of Directors during a meeting held on February 03, 2026. The conversion represents a significant capital restructuring exercise for the company, involving its promoter entities.

Conversion Details and Pricing Structure

The warrant conversion was executed under a preferential allotment structure, with each convertible warrant being converted into one equity share at a conversion price of ₹14 per share. The equity shares carry a face value of ₹5 each, representing a premium of ₹9 per share.

Promoter Participation and Warrant Status

Two promoter entities participated in the warrant conversion exercise, with varying levels of conversion from their respective holdings. Pooja Equiresearch Private Limited converted 18,50,000 warrants from its total holding of 87,50,000 warrants, leaving 69,00,000 warrants pending for future conversion. The company received ₹1,94,25,000 from this partial conversion.

Alacrity Securities Limited opted for complete conversion of its entire warrant holding, converting all 47,50,000 warrants into equity shares. This full conversion generated proceeds of ₹4,98,75,000 for the company, leaving no pending warrants for this entity.

Regulatory Compliance and Framework

The conversion process was conducted in strict adherence to regulatory requirements, including Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. The transaction also complied with Sections 62 and 42 of the Companies Act, 2013, along with associated rules and Regulation 169 of the SEBI ICDR Regulations.

The Board meeting commenced at 5:00 P.M. and concluded at 5:30 P.M. on February 03, 2026, at the company's registered office. The conversion was approved upon receipt of the full subscription amount as prescribed under the regulatory framework.

Outstanding Warrant Position

Following this conversion exercise, Odyssey Corporation retains 69,00,000 convertible warrants pending conversion, all held by Pooja Equiresearch Private Limited. These warrants represent potential future equity conversion opportunities, subject to the exercise decisions of the warrant holder and compliance with applicable conversion timelines under SEBI regulations.

Odyssey Corporation Limited has delivered impressive financial performance in Q3FY26, demonstrating significant profitability improvements despite revenue challenges. The company announced its unaudited financial results for the quarter ended December 31, 2025, showcasing strong operational efficiency and cost management.

Financial Performance Overview

The company's financial metrics reveal a mixed but largely positive performance across key parameters:

Operational Efficiency and Cost Management

Despite the decline in revenue from operations, Odyssey Corporation demonstrated exceptional cost management capabilities. The company's total expenses decreased significantly, contributing to improved profit margins. On a standalone basis, total expenses reduced to Rs. 992.43 lacs in Q3FY26 from Rs. 1,441.98 lacs in Q3FY24.

Key expense categories showed notable improvements:

• Purchase of Stock-in-Trade decreased to Rs. 1,049.91 lacs from Rs. 1,766.77 lacs
• Changes in inventories showed better management at Rs. (178.48) lacs
• Other expenses increased to Rs. 87.97 lacs from Rs. 29.46 lacs

Nine-Month Performance Analysis

The nine-month period ended December 31, 2025, reinforced the company's strong performance trajectory:

Earnings Per Share Performance

The company's earnings per share metrics reflected the improved profitability:

• Standalone basic EPS for Q3FY26: Rs. 0.28 (vs Rs. 0.07 in Q3FY24)
• Standalone diluted EPS for Q3FY26: Rs. 0.21 (vs Rs. 0.03 in Q3FY24)
• Consolidated basic EPS for Q3FY26: Rs. 0.26 (vs Rs. 0.04 in Q3FY24)

Fund Utilization and Corporate Governance

The company provided a comprehensive statement on fund utilization following its preferential issue. Odyssey Corporation raised Rs. 49,91,60,004 through the allotment of 3,56,54,286 equity shares at Rs. 5 each with a premium of Rs. 9 on November 6, 2024. The company has utilized Rs. 47,91,60,004 of the raised funds with no deviation from the stated objectives.

The funds are being utilized for:

• Working capital requirements
• Capital expenditure needs
• Business opportunities and strategic initiatives
• General corporate purposes

Board Approval and Audit Review

The Board of Directors, in their meeting held on January 30, 2026, approved these unaudited financial results. The meeting commenced at 5:00 p.m. and concluded at 5:45 p.m. ABN & Co. Chartered Accountants conducted a limited review of the financial results and expressed an unqualified opinion, confirming compliance with applicable Indian Accounting Standards and SEBI regulations.