Last Mile Enterprises Limited (formerly known as Trans Financial Resources Limited) has reported its financial results for the second quarter of fiscal year 2026, revealing a mixed performance amid ongoing challenges in fund utilization from its preferential issue.

Financial Highlights

For the quarter ended September 30, 2025, Last Mile Enterprises reported:

The company's revenue saw a significant year-over-year increase, primarily driven by its business in mobile accessories, gadgets, and other related items. However, net profit and earnings per share declined substantially compared to the same quarter last year.

Segment Performance

• Real Estate & Other Related Services: Revenue of ₹714.19 crore
• Mobile Accessories, Gadgets and Other Related Items: Revenue of ₹123,789.02 crore

Fund Utilization and Preferential Issue

Last Mile Enterprises faced challenges in fully utilizing funds raised through its preferential issue. The company reported:

• Total funds raised: ₹280.32 crore
• Funds utilized: ₹234.35 crore
• Unutilized amount: ₹45.97 crore

The company cited delays in warrant conversion as a primary reason for the incomplete utilization of funds. The current share price of ₹13 is significantly lower than the warrant exercise price of ₹45, impacting the conversion of warrants into equity shares.

Management Commentary

Mr. Hemrajsinh Surendrasinh Vaghela, Director & Chairperson, stated, "While we have fully utilized the funds received so far, the delay in warrant conversion has impacted our ability to complete all planned objectives. We are closely monitoring the situation and will take appropriate actions within the statutory timelines for warrant payments."

Future Outlook

Last Mile Enterprises plans to focus on completing its fund utilization objectives once the remaining warrant amounts are received. The company remains committed to its expansion plans in real estate, investments in subsidiaries, and strategic acquisitions.

The Board of Directors has approved the unaudited financial results and noted no deviations in the use of proceeds from the preferential issue.

Investors and stakeholders will be watching closely to see how Last Mile Enterprises navigates the challenges of fund utilization and warrant conversion in the coming quarters.

Last Mile Enterprises Limited (formerly known as Trans Financial Resources Limited) has announced the allotment of 9,61,650 equity shares following the exercise of warrants by three non-promoter investors. The company's board of directors approved this allotment during a meeting held on October 30, 2025, at its registered office.

Allotment Details

The equity shares, with a face value of ₹1 each, were allotted at a price of ₹60 per share. The allotment was made upon receipt of the remaining exercise price of ₹45 per warrant, representing 75% of the total warrant exercise price. The newly issued shares will rank pari passu with existing equity shares in all respects, including dividend rights.

Here's a breakdown of the allotment:

Impact on Share Capital

This allotment comes as part of the company's ongoing efforts to strengthen its capital base. The exercise of warrants and subsequent equity allotment may potentially impact the company's shareholding structure and could provide additional funds for its operations or expansion plans.

Regulatory Compliance

Last Mile Enterprises has duly informed the BSE Limited about this development, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015. The allotment process adhered to the guidelines set forth by SEBI in its various circulars, including those dated July 13, 2023, November 11, 2024, and December 31, 2024.

Investors and market participants are advised to consider this information while making investment decisions related to Last Mile Enterprises. As always, it's recommended to conduct thorough research and consult with financial advisors before making any investment choices.