Avance Technologies Reports Strong Q1 Growth, Appoints New Chairman, and Plans Rights Issue

Avance Technologies Limited has announced its unaudited financial results for the first quarter ended June 30, 2025, showcasing significant growth in revenue and profit. The company has also made key strategic decisions, including the appointment of a new Chairman and Managing Director and the approval of a rights issue to raise funds.

Financial Performance

On a standalone basis, Avance Technologies reported a substantial increase in revenue from operations, reaching Rs 2,520.81 crore for Q1, compared to Rs 423.01 crore in the same quarter of the previous year. This represents a remarkable year-on-year growth of nearly 496%. The company's profit for the quarter stood at Rs 54.13 crore, up from Rs 40.02 crore in Q1 of the previous year, marking a 35.3% increase.

Consolidated results also showed strong performance:

Particulars (in Rs crore)	Q1 FY2026	Q1 FY2025	YoY Change
Revenue from Operations	3,741.90	4,686.45	-20.2%
Total Income	3,836.71	4,686.45	-18.1%
Profit Before Tax	162.06	219.46	-26.2%
Net Profit	162.06	219.46	-26.2%

While consolidated revenue and profit showed a decline compared to the previous year, the company maintained a strong financial position with a profit of Rs 162.06 crore for the quarter.

Leadership Changes

The Board of Directors has approved the re-designation of Mr. Latesh Poojary as Chairman and Managing Director of the company. This appointment is subject to shareholder approval at the upcoming General Meeting. Mr. Poojary, a Commerce graduate with extensive experience in marketing, is known for his strategic acumen and results-driven approach in brand positioning and market outreach.

Rights Issue

In a significant move to strengthen its financial position, Avance Technologies has approved a rights issue to raise up to Rs 49.90 crore. The company plans to issue fully paid-up equity shares with a face value of Re. 1 each to existing shareholders. The number of shares and the ratio will be decided by the Board of Directors.

Other Key Points

The company's Earnings Per Share (EPS) on a consolidated basis stood at Rs 0.01 for Q1 FY2026.
The Board meeting, held on August 14, 2025, commenced at 3:00 PM and concluded at 3:25 PM.
The financial results have been prepared in accordance with the Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013.

Avance Technologies Limited continues to demonstrate resilience and growth in its core operations, as evidenced by the substantial increase in standalone revenue. The appointment of Mr. Latesh Poojary as Chairman and Managing Director, coupled with the planned rights issue, signals the company's commitment to strategic growth and value creation for its shareholders.

Investors and stakeholders will be keenly watching how these developments unfold and impact the company's future performance in the dynamic technology sector.

Avance Technologies Limited, a technology solutions provider, has announced a significant strategic move by signing a non-binding term sheet for the acquisition of Checkers India Technology Private Limited, which operates the B2B inventory liquidation marketplace www.Excess2Sell.com . This development marks Avance Technologies' entry into the high-potential overstock inventory liquidation space.

Key Highlights of the Proposed Acquisition

Avance Technologies has signed a non-binding term sheet to acquire Excess2Sell.com, a tech-enabled B2B overstock inventory liquidation marketplace.
The acquisition is subject to due diligence, negotiation of definitive agreements, and necessary regulatory approvals.
Excess2Sell.com operates in various categories, including electronics, fashion, home goods, and lifestyle products.

Strategic Implications

The proposed acquisition aligns with Avance Technologies' vision to expand its technological footprint and address critical challenges in the retail industry. By integrating Excess2Sell's marketplace model with its existing technological infrastructure, Avance Technologies aims to unlock new growth opportunities in both B2B and B2C segments.

About Excess2Sell.com

Excess2Sell.com is positioned as India's premier tech-enabled B2B overstock inventory liquidation marketplace. The platform offers:

A scalable solution for manufacturers, wholesalers, and retailers to efficiently liquidate surplus stock.
Smart pricing algorithms and consumer insights to maximize recovery value.
A user-friendly mobile application and web-based platform for easy access to surplus inventory deals.
Features such as business registration, KYC completion, and real-time pricing tools.

Avance Technologies' Perspective

Vijay Purohit, CFO of Avance Technologies Limited, commented on the acquisition: "Building on this vision, the proposed acquisition of Excess2Sell will enable Avance Technologies to integrate its robust technological infrastructure with a proven marketplace model, unlocking new avenues for growth in both B2B and B2C segments."

Corporate Governance

The decision to enter into the non-binding term sheet was approved by Avance Technologies' Board of Directors during a meeting held on July 16, 2025. The company has stated that it will make further disclosures in accordance with applicable laws as material developments occur.

Avance Technologies Limited specializes in the distribution of IT products and offers a wide range of services, including digital media planning, social media marketing, mobile app marketing, and various other technology-related solutions.

As this strategic move unfolds, it has the potential to reshape Avance Technologies' market position and offer new solutions to address the pressing challenge of unsold inventory in the retail sector.