Hazoor Multi Projects Reports Q2 Loss of 99 Crore Rupees as Revenue Declines

Hazoor Multi Projects Limited , a multi-sector company, has reported a significant downturn in its financial performance for the second quarter. The company's consolidated results show a stark contrast to its performance in the same period last year, highlighting the challenges faced in the current economic environment.

Financial Performance Overview

Hazoor Multi Projects swung to a consolidated net loss of 99.00 crore rupees in Q2, compared to a profit of 110.00 crore rupees in the same quarter last year. This represents a substantial reversal in the company's bottom line, indicating severe pressure on its profitability.

The company's quarterly revenue also saw a notable decline, dropping to 1,020.00 crore rupees from 1,530.00 crore rupees year-over-year. This 33.33% decrease in revenue points to significant operational challenges and potentially reduced demand for the company's products or services.

Key Financial Metrics

Metric	Q2 Current Year	Q2 Previous Year	Change
Revenue	1,020.00 cr	1,530.00 cr	-33.33%
Net Profit/Loss	-99.00 cr	110.00 cr	-190.00%

Corporate Governance Updates

In addition to the financial results, Hazoor Multi Projects announced several changes in its corporate structure:

Board Resignation: Mrs. Shruti Jigar Shah (DIN: 11222680) has resigned from her position as Executive Director, citing other professional commitments and unavoidable circumstances.
Committee Reconstitution: The company has reconstituted its Audit Committee, Nomination and Remuneration Committee, and Stakeholder Relationship Committee. These changes aim to strengthen the company's corporate governance framework.
New Executive Committee: A new Executive Committee has been formed to oversee matters related to tenders, procurement, and day-to-day business operations.

Looking Ahead

The significant drop in revenue and the swing to a net loss indicate that Hazoor Multi Projects is facing substantial headwinds in its business operations. The company will need to address these challenges to improve its financial performance in the coming quarters.

Investors and stakeholders will be closely watching the company's strategic moves and operational adjustments in response to these results. The effectiveness of the newly constituted committees and the Executive Committee may play a crucial role in steering the company towards recovery.

As Hazoor Multi Projects navigates through these challenging times, it will be essential for the company to focus on cost management, operational efficiency, and potentially exploring new revenue streams to return to profitability.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.06%	-4.45%	-11.50%	-22.87%	-36.93%	+18,729.41%

Hazoor Multi Projects Limited (HMPL) has successfully completed a significant corporate action, raising Rs. 1.47 crore through the conversion of warrants into equity shares. The company's fund-raising committee approved the allotment of 4,91,000 equity shares at Rs. 30 per share, following the conversion of 49,100 warrants.

Warrant Conversion Details

The warrant conversion involved two non-promoter investors:

Investor Name	Warrants Converted	Equity Shares Allotted	Conversion Amount (Rs.)
Dilip Keshrimal Sanklecha	32,750	3,27,500	98,25,000
Vaibhav Dimri	16,350	1,63,500	49,05,000
Total	49,100	4,91,000	1,47,30,000

The investors paid the remaining 75% conversion amount, totaling Rs. 1.10 crore. Initially, the warrants were issued at Rs. 300 each, with holders paying Rs. 75 upfront and the balance Rs. 225 upon conversion.

Impact on Share Structure

Due to a previous stock split from Rs. 10 face value to Rs. 1, each warrant now converts to 10 equity shares instead of one. This corporate action has led to the following changes in the company's share structure:

New Paid-up Capital: Rs. 23.33 crore
Total Equity Shares: 23.33 crore
Outstanding Warrants: 79.61 lakh (remaining for conversion)

Conversion Timeline

The warrant holders have the right to convert their remaining warrants into equity shares within 18 months from the original allotment date. This provides an opportunity for further capital infusion in the future.

Market Implications

This warrant conversion strengthens Hazoor Multi Projects Limited's financial position by bringing in fresh capital. The increased number of outstanding shares may impact the company's earnings per share and ownership structure. Investors should note that the new equity shares will rank pari-passu with existing equity shares of the company.

As the company continues to have a significant number of outstanding warrants, market participants may want to monitor potential future conversions and their impact on the company's capital structure and stock price.

Regulatory Compliance

The allotment was made in compliance with SEBI (ICDR) Regulations, 2018, and the company has duly informed the BSE Limited as per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Investors and stakeholders are advised to keep track of any further corporate announcements from Hazoor Multi Projects Limited regarding the remaining warrant conversions and their potential impact on the company's financial position and market performance.