Balu Forge Industries Limited’s Board of Directors has approved the unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. Alongside these results, the board also sanctioned an increase in the company’s authorized share capital and approved a preferential issue of up to 30,00,000 warrants to promoters, aggregating up to ₹162 crore. These decisions are subject to shareholder and stock exchange approvals.
Financial Results and Capital Decisions
At a board meeting held on November 14, 2026, Balu Forge Industries Limited approved its unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. The company also reviewed the Statement of Assets and Liabilities and the Cash Flow Statement for the respective periods. These financial results were reviewed and recommended by the Audit Committee.
Share Capital Enhancement
The board also approved an increase in the company’s authorized share capital from ₹1,25,00,00,000 (12.50 crore Equity Shares of ₹10 each) to ₹1,32,00,00,000 (13.20 crore Equity Shares of ₹10 each). This increase is achieved through the creation of an additional 70,00,000 Equity Shares of ₹10 each, which will consequently alter the Capital Clause of the Memorandum of Association. This decision is pending shareholder approval.
Preferential Issue of Warrants
Furthermore, the company plans to raise funds by issuing up to 30,00,000 warrants, each convertible into one fully paid-up Equity Share of face value ₹10. These warrants will be issued to the Promoters on a preferential basis at an issue price of ₹540 per warrant (including a premium of ₹530 per warrant). This issue aggregates up to ₹1,62,00,00,000 (₹162 crore). The issue price is not less than the floor price determined as per SEBI ICDR Regulations. The company will also convene an Extra-Ordinary General Meeting (EOGM) on December 12, 2026, to seek shareholder approval for these matters. M/s. Jaymin Modi & Co. have been appointed as the scrutinizer for the e-voting process.
Limited Review Report
Independent auditors M.B. Agrawal & Co. provided a limited review report on the unaudited standalone and consolidated financial results. They confirmed that based on their review, nothing has come to their attention to suggest that the financial statements are materially misstated or have failed to disclose required information as per SEBI regulations. The report also highlighted an ongoing Income Tax Department assessment and machinery advances from a subsidiary that exceed prescribed timelines, though these were noted as not impacting the overall opinion.
Source: BSE
