Stock of THIS company in focus today as company allots 82.47 lakh shares, check full details here

In the September quarter, the company's sales fell 33.30% to ₹102.11 crore, compared to ₹153.08 crore in the same quarter last year.

New Delhi: Shares of Hazoor Multi Projects Ltd (HMPL) are in focus as the company has stated in its latest exchange filing after market hours on Monday that the company’s fund-raising committee has approved the allotment of 82,47,770 equity shares after conversion of 8,24,777 warrants.

These shares are of face value ₹1 and have been issued on a preferential basis to non-promoter/public category investors at a price of ₹30 per share (including ₹29 premium).

Investors had previously paid ₹75 per warrant (25% of the total issue price) for these warrants. Now, upon conversion, they have paid the remaining amount of ₹225 per warrant (75%), giving the company a total of ₹18.55 crore.

Following the conversion of warrants and allotment of new shares, the issued and paid-up share capital of the company has increased to ₹25.17 crore, divided into 25,17,19,790 equity shares of face value ₹1 each.

The company also stated that a total of 6,123,862 warrants are currently pending conversion. These warrant holders have the right to convert their warrants into equity shares within 18 months from the date of allotment by paying ₹225 per warrant.

The company’s stock was trading at Rs 37.99, down 0.78% or Rs 0.30 on the BSE as of 10:27 am today.

In the September quarter, the company’s sales fell 33.30% to ₹102.11 crore, compared to ₹153.08 crore in the same quarter last year. The company reported a net loss of ₹9.93 crore, compared to a net profit of ₹11.02 crore in the same quarter last year.

The company’s operating profit margin (OPM) fell to -3.86% from 11.86% in Q2. PBDT fell from a profit of ₹16.37 crore to a loss of ₹9.65 crore, while PBT also fell from a profit of ₹14.77 crore to a loss of ₹11.05 crore.

Earlier, the company secured two work orders from NHAI worth around Rs 277 crore. The projects have been secured through e-tender process, the company informed the exchanges.

The work includes collection of user fee at fee plaza sections of highways in Tamil Nadu and Maharashtra.

With PTI inputs