Tahmar Enterprises Ltd (Scrip Code: 516032) has announced its financial results for the quarter ended September 30, 2025, revealing a net loss and several strategic decisions made by the company's board. The announcement came following a board meeting held on November 14, 2025, at the company's corporate office in Panjim, Goa.

Financial Performance

The company reported unaudited financial results for the quarter, disclosing a net loss of Rs. 50.07 lakhs. The earnings per share (EPS) stood at negative Rs. 0.03, indicating a challenging quarter for the enterprise.

Warrant Cancellation and Fund Forfeiture

In a significant move, Tahmar Enterprises has cancelled 8.6 million unexercised equity convertible warrants. The board approved the forfeiture of Rs. 21.50 lakhs from allottees who failed to convert their warrants into equity shares within the stipulated 18-month period from the date of allotment (March 19, 2024). This decision affects 86,00,000 unexercised Equity Convertible Warrants that were allotted on a preferential basis.

Legal Action Against Debtors

The board has instructed management to initiate legal proceedings against companies with outstanding receivables. The entities named in this context include:

1. Pavostar Synergies Private Limited
2. M/s. Shree Industries
3. Kerala State Beverages Corporation Limited (KSBCL)
4. Viiking Beverages Private Limited

This move suggests the company is taking a firm stance on recovering dues to improve its financial position.

Additional Board Decisions

The board meeting, which lasted from 4:40 PM to 5:15 PM, also covered the following points:

1. Approval of Un-Audited Financial Results (Standalone) for Q2 and H1 of FY 2025-26
2. Review of the Statutory Auditor's Limited Review Report
3. Consideration of the Statement of deviation(s) or variation(s) regarding the conversion of 2,10,00,000 warrants into equity shares

Regulatory Compliance

These disclosures were made in compliance with Regulations 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating the company's commitment to regulatory transparency.

The financial challenges faced by Tahmar Enterprises, as evidenced by the reported loss and the decision to cancel unexercised warrants, indicate a period of restructuring and financial consolidation for the company. The move to initiate legal action for outstanding receivables suggests a proactive approach to improving the company's financial health.

Tahmar Enterprises Limited, a player in the Indian liquor industry, has taken a significant step towards expanding its operations. The company has recently submitted an application to participate in the resolution process of SDF Industries Limited, a Kerala-based company, with the aim of increasing its Indian Made Foreign Liquor (IMFL) bottling capacity.

Strategic Move for Expansion

Tahmar Enterprises' decision to participate in the resolution process of SDF Industries is aligned with its strategic objective to expand its IMFL bottling capacity. This move could potentially strengthen Tahmar's position in the competitive Indian liquor market.

Resolution Process Details

According to the company's disclosure:

• Tahmar Enterprises has submitted an application to the Resolution Professional (RP) of SDF Industries Limited.
• The RP has granted permission to Tahmar to submit a resolution plan.
• The target company, SDF Industries Limited, is based in Kerala.

Regulatory Compliance

In compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Tahmar Enterprises has formally intimated the BSE about this development. The company has assured stakeholders that it will provide further updates on any material developments in this strategic initiative.

Potential Impact

If successful, this acquisition could:

• Enhance Tahmar Enterprises' production capabilities in the IMFL segment
• Potentially increase its market share in the liquor industry
• Provide a foothold in the Kerala market

Next Steps

While the permission to submit a resolution plan marks an important first step, the process is still in its early stages. Tahmar Enterprises has committed to keeping its stakeholders informed about any significant progress in this matter.