Sancode Technologies Limited has issued a corrigendum to its Extraordinary General Meeting (EGM) notice, providing additional details on its proposed issuance of convertible warrants worth Rs 5.99 crore. The company aims to expand its operations into new-age technologies, including semiconductors and artificial intelligence.

Key Points of the Corrigendum

1. Warrant Issue: The company plans to issue 11,11,111 convertible warrants on a preferential basis.

2. Fund Utilization: The funds raised will be allocated as follows:

3. Technology Focus: The company intends to venture into semiconductor design and packaging, as well as explore opportunities in Artificial Intelligence Technologies.

4. Contingency Plan: In case of delays or non-approval for the semiconductor project, the funds will be redirected towards other new-age technology products and services, including AI, Machine Learning, Data Science, and Cloud Computing technologies.

Semiconductor (OSAT) Project Details

• Sancode Technologies is progressing with plans to establish a semiconductor chip testing and packaging (OSAT) plant.
• The company has engaged BBS R & Associates LLP (KPMG) and Feedback Advisory for technical feasibility and project report preparation.
• An application has been submitted to the Government of Odisha under its Semiconductor and IT Manufacturing Promotion Policy.

Joint Venture and Collaborations

• A wholly-owned subsidiary, Sancode Semi Pvt Ltd, has been incorporated as the project SPV.
• The company has signed an MOU with Silicon Connect SDN BHD for technical collaboration and know-how transfer.
• Negotiations are ongoing with a Malaysian semiconductor company and an Indian EMS manufacturer for potential joint venture and investment partnerships.

E-Voting Details

• Remote e-voting facility will be available from November 20, 2025 (9:00 A.M. IST) to November 21, 2025 (5:00 P.M. IST).
• Shareholders holding shares as of November 14, 2025, can participate in the e-voting process.
• M/s. Dilip Swarnkar & Associates will act as the scrutinizer for the e-voting process.

This corrigendum provides shareholders with more comprehensive information about the company's expansion plans and the utilization of funds from the proposed warrant issue. Investors should carefully consider these details before making any investment decisions.

Sancode Technologies Limited , a technology company listed on the BSE SME platform, has announced its unaudited financial results for the half-year ended September 30, 2025, revealing a mixed performance across its standalone and consolidated operations.

Financial Performance

The company reported a standalone net profit of Rs 16.44 lakhs for the half-year. However, on a consolidated basis, Sancode Technologies faced a net loss of Rs 11.22 lakhs. This contrast in performance highlights the varied outcomes across the company's different business segments and subsidiaries.

Key Financial Highlights (Consolidated):

All figures in Rs lakhs, except EPS

Despite the consolidated loss, the company showed improvement compared to the same period last year, narrowing its losses significantly.

Expansion into Semiconductor Industry

In a significant move, Sancode Technologies has announced its plans to venture into the semiconductor industry. The company is progressing with plans to establish a facility for semiconductor chip testing and packaging (OSAT - Outsourced Semiconductor Assembly and Test).

Key Developments:

1. Subsidiary Formation: Sancode Technologies has incorporated a wholly-owned subsidiary, Sancode Semi Pvt Ltd, to execute the semiconductor project.

2. Government Approvals: The company has applied to the Government of Odisha under its Semiconductor and IT Manufacturing Promotion Policy. It plans to apply under the India Semiconductor Mission (ISM) 2.0 upon its launch.

3. Joint Venture and Collaborations: Sancode has signed an MOU with Silicon Connect SDN BHD, which operates an Advanced Packaging Institute and Research Center in Malaysia. The collaboration aims to provide technical know-how, assistance in facility setup, and support for quality control and testing procedures.

4. Funding: The company plans to utilize the majority of its recent preferential issue proceeds of Rs 5.99 crores for initial feasibility studies, market analysis, and technology due diligence for the semiconductor project.

Future Outlook

Mihir Deepak Vora, Managing Director of Sancode Technologies, stated, "While our consolidated results show a loss, we've significantly reduced it compared to the previous year. Our venture into the semiconductor industry represents a strategic move to diversify and tap into a high-growth sector. We're committed to transparent communication with our shareholders as we progress with this ambitious project."

The company remains cautious about potential delays or non-approvals in the semiconductor project. In case of such eventualities, it plans to redirect funds towards expansion in other new-age technologies like Artificial Intelligence, Machine Learning, Data Science, and Cloud Computing.

Sancode Technologies' move into the semiconductor industry comes at a time when there's a global push for diversifying chip manufacturing and testing capabilities. The success of this venture could potentially open new revenue streams for the company in the future.

As the company navigates through these expansion plans and works on improving its financial performance, investors and industry observers will be keenly watching its progress in the coming quarters.