Preferential Allotment of Equity Shares

The Board approved allotment of 21,02,400 equity shares of face value ₹10 each at an issue price of ₹180 per share on preferential basis to public category allottees for aggregate consideration of ₹37,84,32,000.

Allottees and Share Allocation:

  • Clarus Capital II: 10,00,000 shares
  • Shalu Aggarwal: 2,16,000 shares
  • Abhaikumar Amolakchand Nahar: 1,68,000 shares
  • Sandeep Singh: 1,68,000 shares
  • Finavenue Growth Fund: 1,12,000 shares
  • Prafull Rai: 84,000 shares
  • Sajal Family Trust: 54,000 shares
  • Swati G Lodha: 42,400 shares
  • Rajesh Jagdish Rai Jain: 78,000 shares
  • Madhav Grover: 30,000 shares
  • Bhanuben Bharatbhai Patel: 30,000 shares
  • Rajkumar Punamchand Golecha: 38,400 shares
  • Yashkumar Poonamchand Golechha: 38,400 shares
  • H&A Ventures: 14,400 shares
  • Ayushi Rathore: 14,400 shares
  • Deepak Kumar Dua: 14,400 shares

Capital Impact: Consequent to this allotment, the paid-up equity share capital increased to ₹22,86,99,840 comprising 2,28,69,984 equity shares of ₹10 each.

Allotment of Convertible Warrants

The Board approved allotment of 44,16,000 fully convertible warrants at an issue price of ₹180 per warrant for cash consideration aggregating ₹79,48,80,000 on preferential basis to promoter and public category.

Warrant Allottees:

  • Ritesh Sharma (Promoter): 16,00,000 warrants
  • Devi Traders LLP: 6,40,000 warrants
  • Shreya Dua: 6,35,600 warrants
  • Yashpal Garg: 2,60,800 warrants
  • Anshvardhan Modi: 2,00,000 warrants
  • Rachita Gupta: 2,00,000 warrants
  • Annso Capital Private Limited: 96,000 warrants
  • Vidhi Parekh: 80,000 warrants
  • Sangita Jain: 80,000 warrants
  • Bhagchand Punamchand Bafna: 76,800 warrants
  • Sonali Swanand Phand: 68,800 warrants
  • Anita Agarwal: 54,000 warrants
  • Pallavi Goyal: 48,000 warrants
  • Vikashh Mehta: 40,000 warrants
  • Vijay Ramvallabh Khetan: 40,000 warrants
  • Bhavya Lodha: 40,000 warrants
  • Aman Pokharna: 32,000 warrants
  • Ritik Narpatkumar Chopra: 24,000 warrants
  • Rajat Bhargava: 24,000 warrants
  • Vipin Arora: 24,000 warrants
  • Chanchal Biyani: 24,000 warrants
  • Meghana Divyagnan Sarvaiya: 24,000 warrants
  • Deepa Jain: 24,000 warrants
  • Ritik Modi: 22,400 warrants
  • Manshaa Insights Private Limited: 12,800 warrants
  • Attune Wealth Private Limited: 12,800 warrants
  • Anjana Mehta: 6,400 warrants
  • Lehar Sancheti: 6,400 warrants
  • Manan Patodia: 6,400 warrants
  • Arihant Modi: 6,400 warrants
  • Siddharth Modi: 6,400 warrants

Capital Impact: On fully diluted basis after warrant conversion, paid-up equity share capital shall be ₹27,28,59,840 comprising 2,72,85,984 equity shares of ₹10 each.

Financial Results for H1 FY27

The Board approved unaudited standalone financial results for half year ended September 30, 2026 along with limited review report from statutory auditors.

Financial Performance (Standalone):

  • Revenue from operations: ₹7,363.69 lakhs
  • Other income: ₹38.79 lakhs
  • Total income: ₹7,402.48 lakhs
  • Profit before tax: ₹2,063.54 lakhs
  • Tax expense: ₹413.13 lakhs (Current tax: ₹408.55 lakhs, Deferred tax: ₹4.58 lakhs)
  • Profit after tax: ₹1,650.41 lakhs
  • Basic EPS: ₹7.95 (face value ₹10 per share)
  • Diluted EPS: ₹7.95

Comparative Figures:

  • H1 FY26 (ended Mar 31, 2026): PAT ₹1,672.63 lakhs, Revenue ₹9,497.14 lakhs
  • H1 FY25 (ended Sep 30, 2025): PAT ₹857.94 lakhs, Revenue ₹5,030.55 lakhs
  • FY26 (audited): PAT ₹2,530.58 lakhs, Revenue ₹14,527.69 lakhs

Balance Sheet Position as at September 30, 2026:

  • Total equity: ₹11,680.37 lakhs (Share capital: ₹2,076.76 lakhs, Reserves: ₹9,603.61 lakhs)
  • Non-current liabilities: ₹1,074.99 lakhs
  • Current liabilities: ₹2,192.17 lakhs
  • Total assets: ₹14,947.53 lakhs
  • Current assets: ₹11,859.62 lakhs (including cash & bank: ₹2,825.93 lakhs)

IPO Proceeds Utilization

The Board reviewed and took on record the statement of deviation/variation in utilization of IPO proceeds for half year ended September 30, 2026 along with CA certificate.

IPO Details:

  • Company raised ₹4,848.72 lakhs through IPO of 68,03,200 equity shares at ₹89 per share
  • Equity shares listed on BSE SME on April 1, 2026

Utilization as on September 30, 2026:

  • Repayment/prepayment of borrowings: ₹3,000.00 lakhs (fully utilized)
  • Working capital requirement: ₹766.00 lakhs (fully utilized)
  • General corporate purpose: ₹452.85 lakhs (fully utilized, revised from ₹464.76 lakhs)
  • Offer expenses: ₹629.87 lakhs (fully utilized, revised from ₹617.96 lakhs)
  • Total utilization: ₹4,848.72 lakhs (100% utilized)

Special Note: During Q2 FY27, the company utilized unutilized balance of ₹2.39 lakhs earmarked for General Corporate Purpose. Out of this, ₹1.14 lakhs was transferred from Public Issue Account to savings bank account of Promoter. Management confirmed this amount was utilized exclusively for business purposes of the company with supporting documentation.

Meeting Details

The Board meeting commenced at 6:00 PM and concluded at 10:40 PM on November 12, 2026.

Auditor Certification

Mittal Vaish & Co., Chartered Accountants (FRN: 013622N) issued:

1. Limited review report on standalone unaudited financial results for half year ended September 30, 2026

2. Certificate on utilization of IPO proceeds as on September 30, 2026 confirming full utilization of funds

The financial results and IPO utilization statement are available on company website www.tipcoengineering.com.