Seshachal Technologies Limited has dispatched its postal ballot notice seeking shareholder approval for the preferential allotment of fully convertible warrants worth Rs 25,00,00,014. The company's board had earlier approved this significant fundraising initiative on March 05, 2026, and has now formally initiated the shareholder approval process.

Postal Ballot Process Details

The postal ballot notice dated March 06, 2026, has been sent to eligible shareholders for seeking approval through remote e-voting. The company has engaged Central Depository Services (India) Limited (CDSL) to provide the remote e-voting facility to its members.

CS Piyush Gandhi of M/s. Piyush Gandhi & Associates has been appointed as the scrutinizer for conducting the postal ballot process in a fair and transparent manner.

Warrant Issue Structure

The preferential issue involves the allotment of up to 1,13,63,637 fully convertible warrants to 21 investors belonging to the "Non-Promoter, Public Category." Each warrant is priced at Rs 22, exceeding the floor price determined under SEBI ICDR Regulations.

The warrants will be convertible into an equivalent number of fully paid-up equity shares with a face value of Rs 10 each. Upon allotment, warrant holders must pay 25% of the total issue size upfront, with the remaining amount payable upon conversion.

Fund Utilization Plan

The company intends to utilize the gross proceeds from the preferential issue for specific business objectives:

Shareholding Impact

The preferential issue will significantly alter the company's shareholding pattern upon full conversion of warrants:

The conversion would result in promoter shareholding declining from 33.87% to 1.95%, while public shareholding would increase substantially to 98.05%.

Valuation and Pricing

The company obtained a valuation report from Mr. Manish Santosh Buchasia, IBBI Registered Valuer, who determined the fair value of the convertible warrants at Rs 20.00 per warrant. The board approved an issue price of Rs 22 per warrant, which is higher than the valuation report price and complies with SEBI ICDR Regulations.

The postal ballot notice and related documents are available on the company's website, BSE Limited's website, and CDSL's e-voting portal for shareholder reference.

Source: None/Company/INE331F01010/189f03b2-5764-4286-a4d8-31bb02c3a775.pdf

Seshachal Technologies Limited has filed revised unaudited financial results for the quarter ended December 31, 2025, with BSE Limited, clarifying that no changes have been made to the company's financial performance figures. The revision addresses presentation issues in the earlier submission while maintaining complete accuracy of all financial data.

Reason for Revision

The company submitted the revised results due to inadvertent inclusion of additional financial information in the earlier filing made on February 13, 2026. Managing Director and CFO Prabhaker Reddy Aedla confirmed that the revision is limited to streamlining the presentation in line with applicable regulatory requirements under Regulation 33 of SEBI (LODR) Regulations, 2015.

Q3FY26 Financial Performance

The company's financial results for the quarter ended December 31, 2025, demonstrate strong operational performance compared to the previous year:

Nine-Month Performance Overview

For the nine months ended December 31, 2025, the company reported revenue from operations of ₹730.12 lakhs compared to ₹536.46 lakhs in the corresponding period of the previous year. Net profit for the nine-month period stood at ₹217.09 lakhs, significantly higher than ₹37.65 lakhs in the previous year.

Regulatory Compliance and Approval

The revised financial results have been reviewed and recommended by the Audit Committee in its meeting held on February 13, 2026, and subsequently approved by the Board of Directors on the same day. The results have been prepared in accordance with Indian Accounting Standard 34 (Ind AS 34) for Interim Financial Reporting and other applicable accounting principles.

Company Details

The company operates with a single reportable segment as defined in Indian Accounting Standard 108, making segment reporting not applicable. Independent auditor Sharad Chandra Toshniwal & Co has provided a clean review report on the quarterly and year-to-date unaudited standalone financial results.