Baroda Extrusion Limited has reported a robust financial performance for the second quarter of fiscal year 2025-26, alongside a significant equity fundraising initiative. The company, which specializes in copper tubes and bars, has shown marked improvement in its revenue and profitability.

Financial Highlights

For the quarter ended September 30, 2025, Baroda Extrusion reported the following key figures:

The company's performance for the first half of FY2025-26 also showed significant growth:

Equity Fundraising

During the quarter, Baroda Extrusion completed a substantial preferential issue of equity shares:

• Total shares issued: 4.53 crore
• Issue price: ₹8.25 per share (Face Value: ₹1, Securities Premium: ₹7.25)
• Total funds raised: ₹37.40 crore

The fundraising was structured as follows:

1. Conversion of unsecured loans: ₹20 crore (2.42 crore shares)
2. Fresh fund infusion: ₹17.40 crore (2.11 crore shares)

This equity infusion has significantly strengthened the company's balance sheet, with the total equity increasing to ₹197.08 crore as of September 30, 2025, compared to a negative ₹197.03 crore as of March 31, 2025.

Operational Performance

The company's improved financial performance can be attributed to increased demand for its copper products and effective cost management. The cost of materials consumed rose in line with revenue growth, indicating steady operational efficiency.

Auditor's Observation

The company's auditors have noted a qualification regarding advances received for the supply of goods. An amount of ₹64.86 lakhs in customer advances has not been appropriated against the supply of goods within the 365-day period required by the Companies Act, 2013.

Outlook

With a strengthened balance sheet and improved profitability, Baroda Extrusion appears well-positioned to capitalize on growth opportunities in the copper tubes and bars market. However, investors should monitor how the company addresses the auditor's qualification and manages its working capital in the coming quarters.

The company's board meeting to approve these results was held on November 11, 2025, demonstrating timely reporting of its financial performance to stakeholders.

Baroda Extrusion Limited has made significant moves in its capital structure and board composition, as revealed in a recent board meeting outcome.

Equity Share Allotment

The company's board has approved the allotment of a total of 4,53,33,316 equity shares through two separate routes:

1. Conversion of Unsecured Loans: 2,42,42,424 equity shares were allotted through the conversion of unsecured loans.
2. Preferential Allotment: 2,10,90,892 equity shares were allotted on a cash basis at Rs. 8.25 per share through preferential allotment.

These allotments were made following shareholder approval obtained in an Extra Ordinary General Meeting held on 02-05-2025 and in-principle approval from BSE Limited.

Breakdown of Share Allotment

The majority of shares from the loan conversion, specifically 2,42,42,424 shares, were allotted to promoter Parasmal Kanugo. The remaining shares were distributed among 35 non-promoter investors. Here's a breakdown of some notable allotments:

Board Changes and Appointments

The board meeting also saw several key decisions regarding the company's leadership:

1. New Independent Director: Ms. Suryasnata Mishra has been appointed as an Independent Director for a 5-year term, from August 28, 2025, to August 28, 2030, subject to shareholder approval.

2. Secretarial Auditors: M/s. Swati Bhatt & Co., Practicing Company Secretaries, have been appointed as the Secretarial Auditors of the company.

3. Director Resignation: Ms. Rina Patel has resigned from her position as a Director of the company, effective August 28, 2025.

These developments mark significant changes in Baroda Extrusion Limited's capital structure and governance.