Bazel International Ltd. (BSE: 539946) has released its financial results for the quarter and half-year ended September 30, 2025, revealing a mixed performance across its standalone and consolidated operations.

Standalone Performance

The company reported a standalone net profit of Rs. 53.27 crore for the quarter, marking an improvement from Rs. 44.13 crore in the previous quarter. This represents a quarter-on-quarter growth of approximately 20.7% in standalone profitability.

Consolidated Results

Despite the positive standalone performance, Bazel International's consolidated results were impacted by its subsidiary, SR Industries Limited. The subsidiary reported a net loss of Rs. 41.06 crore, which significantly affected the group's overall financial outcome.

Financial Position

As of September 30, 2025, Bazel International's consolidated financial position showed:

The company's total assets increased by approximately 6.8% from March 31, 2025, to September 30, 2025. This growth was accompanied by a 7% increase in total equity and a 6.5% rise in total liabilities during the same period.

Cash Flow Analysis

For the half-year ended September 30, 2025, Bazel International's consolidated cash flow statement revealed:

The company experienced significant cash outflows from operating activities, which were largely offset by cash inflows from financing activities.

Management Commentary

The Board of Directors of Bazel International Ltd. approved these unaudited financial results in a meeting held on November 14, 2025. The meeting, which commenced at 12:30 P.M. and concluded at 01:40 P.M., also included a review of the Limited Review Report provided by the Statutory Auditor.

Investors and stakeholders should note that while the standalone performance shows improvement, the consolidated results highlight the challenges faced by the group, particularly due to the losses incurred by its subsidiary. The company's ability to manage its subsidiary's performance and improve overall group profitability may be key factors to watch in the coming quarters.

Bazel International Ltd, a registered non-banking financial company, held its 43rd Annual General Meeting (AGM) on September 29, 2025, where shareholders approved several significant resolutions. The meeting, which took place at the company's registered office in New Delhi, saw the passage of both ordinary and special business items.

New Appointments and Re-appointments

Shareholders approved the appointment of M/S Meenu G. & Associates as the company's secretarial auditors for a five-year term, spanning from the financial year 2025-26 to 2029-30. The firm, known for its expertise in corporate laws and SEBI regulations, is set to conduct comprehensive secretarial audits for Bazel International.

In a move to strengthen its board, the company re-appointed Mr. Prithvi Raj Bhatt as an independent director for a second five-year term, effective from July 10, 2025, to July 9, 2030. Mr. Bhatt, a graduate with eight years of business experience, brings valuable insights in areas such as due diligence, compliance management, and corporate acquisitions.

Additionally, Mr. Chetan Kumar Joshi, a 32-year-old chartered accountant, was appointed as an independent director effective September 3, 2025. Mr. Joshi's appointment is expected to bring fresh perspectives and financial expertise to the board.

Equity Share Issuance

One of the key resolutions passed at the AGM was the approval for issuing up to 10,69,190 equity shares at Rs. 66.95 per share through preferential allotment. This move is aimed at converting outstanding unsecured loans into equity. The shares will be issued to Chaser Financial Services Private Limited and Panafic Industrials Limited at a price that includes a premium of Rs. 56.95, as determined by a registered valuer.

Other Resolutions

The AGM also saw the approval of several other resolutions, including:

1. Adoption of standalone and consolidated financial statements for the year ended March 31, 2025.
2. Re-appointment of Mr. Pankaj Dawar as a director.
3. Increase in authorized share capital and alteration of Clause V of the Memorandum of Association.
4. Ratification of loan and grant of option for conversion into equity shares under Section 62(3) of the Companies Act, 2013.

The meeting, chaired by Managing Director Mr. Pankaj Dawar, was attended by 68 members in person. The company had provided remote e-voting facilities to its shareholders prior to the AGM, ensuring wider participation in the decision-making process.

Bazel International continues to focus on operational excellence and service quality improvement as it moves forward with these strategic decisions approved by its shareholders.