Sheetal Cool Products Limited has completed the allotment of 8.40 lakh convertible warrants to non-promoter investors following the board meeting held on February 26, 2026. The company received Rs. 6,67,06,500 as 25% of the aggregate consideration payable towards warrant subscription from all allottees, as disclosed in the official board meeting outcome submitted to BSE Limited and National Stock Exchange of India Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Warrant Allotment Details

The board approved the allotment of convertible warrants under a preferential issue on private placement basis. The warrants are convertible into equity shares at a ratio of one equity share per warrant, with each warrant priced at Rs. 317.65.

Allottee Distribution

Four non-promoter investors participated in the warrant allotment, with Orbit Financial Capital receiving the largest allocation.

Orbit Financial Capital is represented by eight partners including Meena Sheth, Mamta Ashish Sheth, Amit Arvind Sheth, Shreya Amit Sheth, Ashish Arvind Sheth, Aanya Amit Sheth, Athena Amit Sheth, and Amyra Ashish Sheth.

Board Approvals and Corporate Changes

The board meeting, which commenced at 4:00 PM and concluded at 4:30 PM, approved several key corporate decisions beyond the warrant allotment.

Secretarial Auditor Appointment

The board appointed M/s. Pitroda Nayan & Co. as the company's Secretarial Auditor for five consecutive years from FY 2025-26 to FY 2029-30, subject to shareholder approval.

Registered Office Relocation

The board approved shifting the company's registered office from Amreli to Ahmedabad within the jurisdiction of the same Registrar of Companies (ROC), Ahmedabad. This change is subject to shareholder approval through postal ballot.

Warrant Conversion Terms

The convertible warrants carry specific terms for conversion and lapse conditions. Warrant holders can convert their warrants into fully paid-up equity shares at any time within 18 months from the allotment date of February 26, 2026. The conversion can be exercised in one or more tranches as per the terms and conditions applicable.

Warrants remaining unconverted after the 18-month period will lapse automatically, and the amount paid by warrant holders will stand forfeited. The company had previously received in-principle approval from both BSE Limited and National Stock Exchange of India Limited for the warrant issuance.

The successful completion of this preferential allotment strengthens the company's capital base while the corporate governance enhancements through new auditor appointment and office relocation demonstrate ongoing organizational development.

Sheetal Cool Products Limited delivered impressive financial performance in Q3FY26, reporting an 87% surge in net profit to ₹400.92 lakhs compared to ₹214.25 lakhs in the same quarter of the previous fiscal year. The company's revenue from operations also demonstrated strong growth, rising 25% to ₹6,388.07 lakhs from ₹5,101.33 lakhs in Q3FY25.

Financial Performance Overview

The company's quarterly results showcase significant improvement across key financial metrics. Total income for Q3FY26 reached ₹6,411.52 lakhs, marking a substantial increase from ₹5,103.75 lakhs in the corresponding quarter last year.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, Sheetal Cool Products maintained steady operational performance. Revenue from operations reached ₹23,269.17 lakhs compared to ₹22,775.82 lakhs in the corresponding nine-month period of FY25, representing marginal growth.

Operational Efficiency and Cost Management

The company demonstrated improved operational efficiency during Q3FY26. Total expenses increased to ₹5,858.18 lakhs from ₹4,882.33 lakhs in Q3FY25, primarily driven by higher cost of materials consumed which rose to ₹4,760.21 lakhs from ₹3,664.06 lakhs. However, the company benefited from favorable inventory changes, recording a positive impact of ₹457.30 lakhs compared to ₹529.62 lakhs in the previous year.

Earnings Per Share and Capital Structure

Basic earnings per share for Q3FY26 improved significantly to ₹3.82 from ₹2.04 in Q3FY25, reflecting the strong profit growth. The company maintained its paid-up equity share capital at ₹1,050.00 lakhs with a face value of ₹10 per share throughout the reporting periods.

Board Approval and Compliance

The Board of Directors of Sheetal Cool Products Limited convened on February 12, 2026, at the company's registered office in Amreli, Gujarat, to approve the unaudited financial results for the quarter and nine months ended December 31, 2025. The meeting commenced at 5:30 PM and concluded at 6:15 PM. The statutory auditors H.B. Kalaria & Associates conducted a limited review of these results, noting that no physical verification of inventory and cash equivalents was performed during their audit procedures.