Hazoor Multi Projects Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, alongside key board appointments during a meeting held on February 12, 2026. The company demonstrated mixed performance with revenue growth in standalone operations while strengthening its corporate governance framework through strategic appointments.

Q3FY26 Financial Performance

The company's standalone operations showed revenue growth with mixed profitability results. Revenue from operations increased to ₹7,597.00 lakhs in Q3FY26 compared to ₹5,676.32 lakhs in Q3FY25, while net profit declined to ₹271.66 lakhs from ₹313.74 lakhs in the corresponding quarter.

Consolidated Results Show Strong Performance

On a consolidated basis, the company demonstrated robust performance with significant improvements in profitability. Consolidated net profit for Q3FY26 reached ₹645.84 lakhs compared to ₹271.43 lakhs in Q3FY25, despite revenue declining to ₹13,903.87 lakhs from ₹16,487.19 lakhs.

Key Board Appointments

The Board of Directors approved significant appointments to strengthen the company's leadership structure. Mr. Kiran Vasantrao Kurundkar was appointed as Additional Independent Director for a five-year term, bringing extensive administrative experience as a retired IAS officer with specialized expertise in election management and district administration.

Updated KMP Structure and Corporate Changes

Following the appointment of Mrs. Anushree Tekriwal as Company Secretary and Compliance Officer, the company updated its Key Managerial Personnel structure under SEBI regulations. The company maintains a debt-equity ratio of 0.02 for standalone operations and 0.73 for consolidated operations, with paid-up equity share capital of ₹2,881.72 lakhs as of December 31, 2025.

During the quarter, Vyom Hydrocarbon Private Limited and its subsidiary ceased to be subsidiaries following conversion of Compulsorily Convertible Debentures, which reduced the company's shareholding below majority level. The Board meeting commenced at 4:00 p.m. and concluded at 9:30 p.m., with all results subjected to limited review by statutory auditors.

Hazoor Multi Projects Limited has converted its existing investment in Optionally Convertible Debentures (OCDs) of its wholly owned subsidiary into equity shares, maintaining complete ownership control. The conversion was announced on January 27, 2026, in compliance with SEBI Listing Regulations.

Conversion Details

The OCD conversion involves significant financial restructuring within the group structure. The transaction was executed without any cash consideration and represents a settlement of existing debenture obligations.

Subsidiary Profile

Square Port Shipyard Private Limited operates as a wholly owned subsidiary engaged in vessel manufacturing and repair services. The company was incorporated on November 29, 2022, with its registered office located in Mumbai.

Capital Structure

The subsidiary maintains a robust capital structure to support its manufacturing operations. The authorized and paid-up capital reflect the company's operational scale and growth trajectory.

Business Operations

Square Port Shipyard Private Limited specializes in comprehensive vessel-related services, covering the entire spectrum of maritime manufacturing and repair operations. The company's business scope includes:

• Manufacturing and repairing of ships, boats, vessels, and tankers
• Construction and maintenance of floating structures
• Development of specialized maritime equipment and components
• Shipping business operations for goods and passenger transportation

Regulatory Compliance

The conversion transaction does not fall within related party transaction categories and requires no governmental or regulatory approvals. The company has fulfilled all disclosure requirements under SEBI Listing Regulations, ensuring complete transparency in the restructuring process.

Following the conversion, Hazoor Multi Projects Limited continues to maintain 100% equity shareholding in Square Port Shipyard Private Limited, with no changes in ownership, control, or management structure of the subsidiary.