Onesource Industries & Ventures Limited (OSIVL) has announced a series of significant decisions following its board meeting on September 4, 2025. The company has approved several key measures aimed at strengthening its financial position and corporate governance.

Warrant Issue to Raise ₹40.45 Crore

The board has given the green light for the issuance of up to 6,63,14,344 fully convertible warrants on a preferential basis to non-promoter investors. Each warrant, priced at ₹6.10, will be convertible into one equity share of the company. This move is expected to raise approximately ₹40.45 crore, providing a substantial boost to the company's capital.

The warrant issue structure is as follows:

Investors will have 18 months from the date of allotment to convert these warrants into equity shares. This flexible timeframe allows the company to secure funding while giving investors the opportunity to participate in potential future growth.

New Appointments and Governance Changes

In addition to the warrant issue, OSIVL has made several key appointments:

1. Statutory Auditor: M/s. Sumit Ranka & Associates (SR &A), Chartered Accountants, Mumbai, has been appointed to fill a casual vacancy. Their appointment for a five-year term is subject to shareholder approval at the upcoming 31st Annual General Meeting (AGM).

2. Secretarial Auditor: Ms. Alpana Sethia, a Practicing Company Secretary with over 11 years of experience, has been appointed for a five-year term starting from FY 2025-2026, subject to shareholder approval.

3. Scrutinizer for AGM: Ms. Alpana Sethia has also been appointed as the scrutinizer for the e-voting process at the 31st AGM.

Upcoming 31st Annual General Meeting

The board has scheduled the 31st AGM for September 30, 2025, to be held via video conferencing or other audio-visual means. Key dates related to the AGM include:

• Book Closure: September 24-30, 2025
• Cut-Off Date for Voting Eligibility: September 23, 2025

Amendments to Articles of Association

The board has approved amendments to the company's Articles of Association to incorporate clauses related to the issuance of various securities, including convertible warrants.

These decisions reflect OSIVL's efforts to strengthen its financial position, improve corporate governance, and prepare for future growth opportunities. Shareholders and potential investors will be keenly watching how these measures impact the company's performance in the coming months.

Onesource Industries & Ventures , a company listed on the Bombay Stock Exchange (BSE: 530805), has reported robust financial performance for the first quarter, while simultaneously announcing the resignation of its statutory auditors.

Strong Financial Performance

The company's unaudited financial results for the quarter reveal a significant improvement in its financial position:

Onesource Industries has demonstrated remarkable growth, with its revenue from operations soaring by 366.1% year-over-year to ₹201.78 crore. The company's net profit saw an even more impressive increase, jumping by 786.5% to ₹9.84 crore compared to the same quarter last year.

Auditor Resignation

In a separate development, the company announced the resignation of its statutory auditors, M/s S V J K and Associates, Chartered Accountants. The auditors cited a busy schedule and heavy workload as reasons for their departure. They were initially appointed at the 29th Annual General Meeting held on September 30, 2023, and were scheduled to serve until the 34th Annual General Meeting in 2028.

The company's board of directors accepted the auditors' resignation during a meeting held on August 12. Onesource Industries emphasized that the resignation was amicable and reached through mutual understanding. The outgoing auditors have assured full cooperation for a seamless transition and confirmed that there were no other material reasons for their resignation beyond those stated.

Management's Response

Commenting on these developments, the company stated, "We are in the process of appointing a new Statutory Auditor, and an official announcement in this regard will be made in due course. Ensuring the integrity, transparency, and stability of our financial reporting processes remains our highest priority."

The company also expressed gratitude to M/s S V J K and Associates for their services and support during their tenure.

Looking Ahead

Despite the change in auditors, Onesource Industries appears to be on a strong growth trajectory, as evidenced by its impressive first-quarter results. The company's ability to maintain this momentum and successfully transition to new auditors will be key factors for investors to watch in the coming months.

The company's shares are listed on the BSE under the scrip code 530805. Investors and stakeholders are advised to monitor further announcements from the company regarding the appointment of new statutory auditors and future financial performance.