Texel Industries Converts Additional 1,96,078 Warrants, Allots Equity to Promoter

Texel Industries Limited has successfully completed another significant warrant conversion, converting 1,96,078 fully convertible equity warrants into equity shares for promoter Bhupendra Ramniklal Mehta. The Finance and Investment Committee approved this conversion during their meeting held on April 10, 2026, following the receipt of the balance consideration amount from the warrant holder.

Latest Warrant Conversion Details

The recent conversion involved 1,96,078 warrants being transformed into an equal number of equity shares at an issue price of ₹38.25 per share, including a premium of ₹28.25 each. The allottee, Bhupendra Ramniklal Mehta, who belongs to the promoter category, paid the remaining 75% of the full value consideration amounting to ₹56,24,987.63.

Parameter: Details Warrants Converted: 1,96,078 Issue Price per Share: ₹38.25 Premium per Share: ₹28.25 Balance Amount Received: ₹56,24,987.63 Allottee: Bhupendra Ramniklal Mehta (Promoter) Pending Warrants: Nil

Updated Share Capital Structure

The latest warrant conversion has resulted in another substantial increase in the company's paid-up equity share capital. The total paid-up capital has risen from ₹13,37,23,500 consisting of 1,33,72,350 fully paid-up equity shares to ₹13,56,84,280 consisting of 1,35,68,428 fully paid-up equity shares, each with a face value of ₹10.

Metric: Pre-Conversion Post-Conversion Paid-up Capital: ₹13,37,23,500 ₹13,56,84,280 Number of Shares: 1,33,72,350 1,35,68,428 Face Value per Share: ₹10 ₹10

Promoter Shareholding Enhancement

The conversion has significantly altered the shareholding pattern for Bhupendra Ramniklal Mehta in the promoter category. His shareholding has increased substantially following the warrant conversion.

Investor: Pre-Issue Shares Pre-Issue % Post-Issue Shares Post-Issue % Bhupendra Ramniklal Mehta: 2,35,832 1.76% 4,31,910 3.18%

Regulatory Framework and Compliance

The warrant conversion was executed in full compliance with SEBI regulations and the SEBI ICDR Regulations. The original warrants were issued on October 05, 2024, following members' approval, in accordance with SEBI ICDR Regulations on a preferential basis. The warrants were issued with an 18-month conversion window, during which warrant holders could exercise their conversion rights by paying the remaining 75% of the consideration amount.

The newly allotted equity shares will rank pari-passu with the existing equity shares of the company, ensuring equal rights and privileges for all shareholders. This conversion represents the complete utilization of the warrant allocation for Bhupendra Ramniklal Mehta, with no warrants remaining pending for conversion. The company has now completed multiple warrant conversions, demonstrating active participation from promoters in strengthening the capital structure.

Texel Industries Limited announced its unaudited financial results for the third quarter ended December 31, 2025, alongside significant management changes approved by the Board of Directors on February 4, 2026.

Financial Performance Overview

The company reported strong financial performance for Q3 FY26, demonstrating significant improvement across key metrics compared to the corresponding period last year.

Metric Q3 FY26 Q3 FY25 Change Revenue from Operations ₹1,647.79 lakhs ₹2,604.33 lakhs -36.7% Total Income ₹1,659.82 lakhs ₹2,607.64 lakhs -36.4% Net Profit After Tax ₹395.35 lakhs ₹178.46 lakhs +121.5% Basic EPS ₹2.97 ₹4.91 -39.5% Diluted EPS ₹2.89 ₹4.91 -41.1%

For the nine months ended December 31, 2025, the company achieved revenue from operations of ₹7,544.03 lakhs and net profit after tax of ₹615.45 lakhs, compared to ₹7,761.64 lakhs and ₹105.78 lakhs respectively in the corresponding period of the previous year.

Segment-wise Performance

The company operates in two primary business segments: Technical Textile and Land, Building & Property Development.

Segment Q3 FY26 Revenue Q3 FY25 Revenue Segment Results Q3 FY26 Technical Textile ₹1,262.85 lakhs ₹2,419.33 lakhs ₹153.18 lakhs Land, Building & Property Development ₹384.94 lakhs ₹185.00 lakhs ₹346.94 lakhs

The Land, Building & Property Development segment showed remarkable growth with revenue more than doubling from ₹185.00 lakhs to ₹384.94 lakhs year-on-year.

Key Management Changes

The Board approved significant changes in the company's leadership structure:

Position Outgoing Incoming Effective Date Chief Financial Officer Mr. Parth Prakash Niphadkar Mr. Hardik Parekh February 4, 2026 Manager Sales, Marketing & Business Development - Mr. Parth Prakash Niphadkar February 4, 2026

Mr. Parth Prakash Niphadkar will continue his employment with the company in his new role as Manager Sales, Marketing & Business Development. The newly appointed CFO, Mr. Hardik Parekh, brings over two decades of experience in finance, accounts, administration, and commercial operations across diverse industries. He holds an M.B.A. (Finance), Post Graduate Diploma in Human Resource Management (PGDHRM), along with M.Com and B.Com degrees.

Corporate Developments

The company had previously completed a significant capital raising exercise in October 2024, issuing 49,67,302 equity shares on a preferential basis at ₹38.25 per share, aggregating to ₹18,99,99,301.50. Additionally, 7,84,312 warrants convertible into equity shares were issued at the same price, with 25% of the warrant amount already received.

Regulatory Compliance

The financial results were prepared in accordance with Indian Accounting Standards (Ind AS) and reviewed by statutory auditors M/s Sunil Poddar & Co., Chartered Accountants, who expressed an unmodified opinion on both standalone and consolidated financial results. The Board meeting commenced at 6:30 p.m. and concluded at 7:15 p.m. on February 4, 2026.

We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better.

Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians.

As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation. We plan to change that - a technology-led platform built for super traders and long term investors.