Key Quantitative Figures
Standalone Financial Results (Rs. in Lakh)
- Q4 FY26 (Mar 31, 2026): Revenue from operations: ₹109.90; Other Income: ₹34.54; Total Revenue: ₹144.44; Net Loss after tax: (₹48.34); EPS: (₹1.36)
- FY26 Full Year: Revenue from operations: ₹439.89; Other Income: ₹42.72; Total Revenue: ₹482.61; Net Profit after tax: ₹101.26; EPS: ₹2.85
- Paid-up Equity Share Capital: ₹990.11 lakh (Face value ₹10 per share)
Consolidated Financial Results (Rs. in Lakh)
- Q4 FY26 (Mar 31, 2026): Revenue from operations: ₹103.53; Other Income: ₹43.61; Total Revenue: ₹147.15; Net Loss after tax: (₹35.38); EPS: (₹0.16)
- FY26 Full Year: Revenue from operations: ₹441.39; Other Income: ₹51.19; Total Revenue: ₹492.58; Net Profit after tax: ₹42.42; EPS: ₹2.02
- Paid-up Equity Share Capital: ₹981.52 lakh
- Reserves as at March 31, 2026: ₹5,609.14 lakh
Standalone Balance Sheet (as at Mar 31, 2026, Rs. in Lakh)
- Total Assets: ₹8,060.02
- Financial Assets: ₹7,914.89 (includes Cash: ₹107.91, Investments: ₹1,465.43, Loans: ₹5,832.06)
- Total Liabilities: ₹1,391.45
- Total Equity: ₹6,668.57
Dates of Action
- Board Meeting Date: May 28, 2026 (commenced 6:00 PM, concluded 8:30 PM)
- Financial Period: Quarter and Year ended March 31, 2026
- Internal Auditor Appointment Term: April 1, 2026 to March 31, 2027
Parties Involved
- Listed Entity: Bazel International Limited
- Subsidiary: Arur Footwear Limited (Formerly S R Industries Limited), 50.10% ownership
- Target of Loan Conversion: Sagar Portfolio Services Limited
- Statutory Auditors: Krishan Rakesh & Co., Chartered Accountants (Firm Regn. No. 009088N)
- New Internal Auditor: Mr. Narender Singh
- Key Personnel: Pankaj Dawar (Managing Director, DIN: 06479649), Himanshi (Company Secretary and Compliance Officer, Membership No.: A78491)
Purpose and Rationale
- The loan conversion is described as a "partial restructuring of the existing financial exposure" and is intended to "safeguard the Company's financial exposure and strengthen its business relationship with the target entity." The transaction does not involve any fresh infusion of funds.
Financial and Operational Impact
Loan Conversion Details:
- Outstanding Loan Amount: ₹10,32,19,047 (₹10.32 crore) extended to Sagar Portfolio Services Limited
- Conversion Details: Partial conversion into 99,000 equity shares of Sagar Portfolio at ₹227.23 per share
- Total Consideration: ₹2,24,95,770 (₹2.25 crore)
- Resulting Shareholding: 18.62% of the post-allotment paid-up share capital of Sagar Portfolio Services Limited
- Business of Target: Financing agents, finance broker, portfolio management, consultancy and advisory services
- Target's Turnover: FY23: ₹15.94 crore, FY24: ₹0.63 crore, FY25: ₹8.31 crore
Auditor's Emphasis of Matter:
The auditors highlighted two key matters:
1. Non-receipt of interest income from one company to whom advances were made during FY 2025-26. No provision was made as management represented the outstanding amount is proposed to be converted into investment via equity shares.
2. Non-receipt of full interest from another party, with only partial interest received during the year. No provision was made as management believes the remaining outstanding interest shall be recovered in full during FY 2026-27.
The auditor's opinion was not modified regarding these matters.
Capital Structure Impact
- The loan conversion transaction reduces the company's loan exposure to Sagar Portfolio Services Limited by ₹2.25 crore and converts it into an equity investment representing 18.62% ownership.
- The company's share capital remained unchanged at ₹990.11 lakh (standalone) and ₹981.52 lakh (consolidated) as of March 31, 2026.
Forward-Looking Information
- Management expects recovery of outstanding interest from one party in full during FY 2026-27.
- The loan-to-equity conversion is expected to be completed within approximately two months from the board approval date (May 28, 2026).