Spice Islands Industries Limited , a company known for its diverse portfolio in the food and hospitality sectors, has taken a significant step to strengthen its financial position and expand its equity base.

Listing Application Details

The company has applied to the Bombay Stock Exchange (BSE) for listing and trading approval of 19,33,324 equity shares with a face value of Rs. 10 each. These shares were issued on a preferential basis upon conversion of warrants. The Board of Directors allotted these equity shares on December 01, 2025, following the in-principle approval granted by BSE on October 21, 2024.

Previous Warrant Conversion

Prior to this application, Spice Islands Industries had announced the conversion of 5,22,220 convertible warrants into equity shares by Dhaval Girish Chheda and four persons acting in concert on December 01, 2025. This earlier conversion had already led to a substantial increase in the company's equity share capital.

Note: Equity Share Capital and Share Count values are in crores.

Impact on Share Capital

The conversion of these warrants into equity shares has led to a significant expansion of the company's share capital. The equity share capital increased from INR 4.30 crores to INR 6.23 crores, with the total share count rising from 4.30 lakh to 62.33 lakh shares. This increase in equity base could potentially enhance the company's ability to fund future growth initiatives and strengthen its balance sheet.

Board's Positive Outlook

The Board of Directors has previously expressed appreciation for the company's strong performance in recent quarters. They highlighted several key factors contributing to this success:

1. Improved Operational Efficiencies: The company has seen enhancements in its operational processes, leading to better overall performance.

2. Market Expansion: Spice Islands Industries has successfully expanded its market presence, particularly in two key segments:

   • Foods & Beverages Segment: The Rogers brand, established since 1837, continues to show robust growth and increasing market presence.

   • Hospitality Segment: The company has expanded its footprint in the hospitality sector with new hotel properties in Dwarka and Somnath, both significant pilgrimage destinations.

Segment-wise Performance

The Board specifically commended the performance of two main business segments:

Foods & Beverages (Rogers Brand)

• Continued success and growing market presence
• Expected to deliver healthy revenues
• Strengthened customer base
• Noteworthy efforts in product innovation and brand-building initiatives

Hospitality (New Hotels in Dwarka & Somnath)

• Impressive progress with the addition of new properties
• Enhanced company footprint in key pilgrimage destinations
• Improved segment performance
• Recognition for operational teams driving quality service and guest satisfaction

Conclusion

The application for listing of 19.33 lakh equity shares, following the previous successful conversion of warrants, demonstrates Spice Islands Industries Limited's commitment to expanding its equity base and potentially enhancing its market position. This move, coupled with strong performance across key business segments, positions the company for potential growth. The strategic expansion in both the food and hospitality sectors, along with its focus on operational efficiencies, suggests a positive outlook for the company.

Spice Islands Industries Limited (formerly known as Spice Islands Apparels Limited) has announced its unaudited financial results for the quarter and half year ended September 30, 2025, along with several strategic business developments.

Financial Results and Dividend Declaration

The Board of Directors, in a meeting held on November 14, 2025, approved the unaudited standalone financial results for Q2 FY2025-26. The company declared an interim dividend of Rs. 0.50 per equity share (face value Rs. 10.00), representing a 5% dividend yield. The record date for dividend eligibility is set for November 21, 2025, with payment expected within 30 days of declaration.

Expansion in Hospitality Sector

Spice Islands Industries is expanding its hospitality business:

1. Hotel Somprabha Lease: The company has leased "Hotel Somprabha" in Veraval, Gujarat. This 44-room property is located 2 kilometers from the Somnath Jyotirlinga Temple.

2. Jim Corbett Resort Agreement: A Memorandum of Understanding has been signed with Just Naturals Infra India Pvt Ltd for leasing "Just Naturals Wellness Resort" in Jim Corbett, Nainital. This agreement, spanning 11 months and 29 days from January 1, 2026, is based on a revenue-sharing model.

3. Dwarka Hotel Operations: The company plans to commence hotel operations from a leased property in Dwarka, Gujarat.

Property Acquisition and Loan Facility

The Board has approved a proposal to purchase immovable property in Village Gundavali, Taluka Andheri, Mumbai Suburban. The property measures 1200 sq. ft., with plans to construct a building with a proposed built-up area of 6000 sq. ft.

Additionally, the company has received approval to avail a loan facility of Rs. 2.50 crores, subject to mutually agreed terms with the bank.

Warrant Conversion

The Board noted letters of intent from warrant holders expressing their desire to convert warrants into equity shares. This conversion is subject to receipt of balance consideration and compliance with regulatory requirements.

Market Implications

These developments suggest that Spice Islands Industries is diversifying and expanding its operations, with a focus on the hospitality sector. The interim dividend declaration and expansion into multiple hotel properties across different locations indicate a strategic push into the tourism industry.

The company's moves to acquire property in Mumbai and secure additional loan facilities also point towards plans for further growth and asset expansion. However, these plans are subject to various regulatory approvals and market conditions.

Potential investors are advised to conduct their own research and consider their risk appetite before making investment decisions based on these developments.