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Latest filing: 2026-10-07 15:09
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10 announcements match the current filters (relevance ≥ 5).
Aarey Drugs Allots 11.5 Lakh Shares on Warrant Conversion; Collects ₹5.50 Cr
Aarey Drugs & Pharmaceuticals approved the allotment of 11,50,000 equity shares of face value ₹10 each following the conversion of warrants on September 30, 2026. The company collected ₹5.50 crore (representing the remaining 75% payment at ₹47.85 per warrant on an issue price of ₹63.80). This increases the paid-up share count from 3,07,24,303 to 3,18,74,303 shares, representing an equity dilution of approximately 3.7%. Across both tranches, 35,20,000 warrants have now been converted out of the total 50,00,000 warrants issued, leaving 14,80,000 warrants outstanding.
Confidence: HIGH
What changedThe board approved conversion of 11.50 lakh warrants into equity shares, raising ₹5.50 crore in cash and expanding the paid-up capital base to 3.19 crore shares.
Why it mattersProvides fresh equity funding to support working capital or capex projects, though it causes mild equity dilution (~3.7% in this tranche).
Shares allotted: 11,50,000Issue price per warrant: Rs. 63.80Amount raised in tranche: Rs. 5,50,27,500Fundraise vs Market Cap: ~1.8%Warrants outstanding: 14,80,000
📅 Short termNeutral trading impact as warrant conversions at predetermined prices are routine corporate actions.
📈 Long termSupports balance sheet strength and capital expenditure plans; slight dilution will be absorbed if ongoing capacity expansion delivers targeted earnings growth.
⚠ Risk flags
- Equity dilution of ~3.7% from this tranche, with an additional 14.8 lakh warrants still eligible for conversion
- Issue price of ₹63.80 represents a discount to the current market price of ₹107.8
Key Highlights
Allotted 11,50,000 equity shares upon conversion of warrants at an issue price of ₹63.80 each
Received balance 75% payment of ₹47.85 per warrant, totaling ₹5,50,27,500 (~₹5.50 Cr)
Paid-up equity shares expanded from 3,07,24,303 to 3,18,74,303 shares
Total outstanding warrants remaining for conversion stand at 14,80,000 out of original 50,00,000
Conversion tranches include 1,50,000 shares to promoter group and 10,00,000 shares to public category
👀 What to Watch
Track the deployment of funds toward ongoing API capex and monitor the remaining 14,80,000 warrants expiring within 18 months of their May 23, 2025 allotment.
Aarey Drugs Promoters Convert 25.2 Lakh Warrants; Share Capital Expands to 3.19 Cr Shares
Aarey Drugs and Pharmaceuticals disclosed insider warrant conversions by members of the promoter and promoter group as of September 30, 2026. Across the conversion stages, promoter group entities converted over 25.2 lakh warrants into equity shares, raising promoter group equity holding to 1,32,12,443 shares (41.45% of expanded voting capital). The total equity share capital expanded from 2,83,54,303 shares to 3,18,74,303 shares, with total diluted share capital standing at 3,33,54,303 shares.
Confidence: HIGH
What changedPromoter entities exercised warrant conversion rights, increasing their equity share count by 25.2 lakh shares and boosting company paid-up equity capital to 3.19 crore shares.
Why it mattersWarrant conversion brings equity cash inflow to help fund capex and reduces leverage, while causing equity dilution of ~12.4% over original pre-conversion equity share capital.
Warrants converted by promoters: 2520000Post-allotment total equity shares: 31874303Promoter holding post-conversion: 41.45%Diluted equity share capital: 33354303
📅 Short termNeutral trading impact as warrant conversion was pre-approved, though increased share supply creates minor equity dilution.
📈 Long termPromoter capital commitment reflects confidence, providing funding support for their Rs 24.43 Cr manufacturing expansion.
⚠ Risk flags
- Equity base dilution for existing minority shareholders
- Thin operational margins (1.64%-1.94%) leave little room for execution missteps on capex
Key Highlights
Promoters converted 23,70,000 warrants into equity in the first tranche, followed by an additional 1,50,000 warrants allotted to Nimit Rajesh Ghatalia on September 30, 2026
Post-allotment total promoter and promoter group equity holding stands at 1,32,12,443 shares or 41.45% of total voting capital
Company's issued equity share capital increased from 2,83,54,303 shares to 3,18,74,303 shares of Rs. 10 each
Remaining unconverted warrants held by promoters and entities acting in concert stand at 15,30,000 instruments
👀 What to Watch
Track the utilization of warrant subscription proceeds toward the ongoing Rs 24.43 Cr API capacity expansion and monitor subsequent quarterly shareholding patterns for final fully diluted promoter holding.
Aarey Drugs Allots 25.2 Lakh Shares to Promoters via Warrant Conversion Worth ₹12.06 Cr
Aarey Drugs and Pharmaceuticals has disclosed warrant conversions under SEBI PIT regulations resulting in an allotment of 25,20,000 equity shares to promoter group members on September 30, 2026. The total transaction value across seven promoter entities stands at approximately ₹12.06 Cr, representing ~4.1% of the company's current market cap of ₹291 Cr. Key promoter members including Bina Ghatalia, Mihir Ghatalia, and Nimit Ghatalia converted warrants into equity shares, infusing equity capital into the business.
Confidence: HIGH
What changedPromoters exercised 25,20,000 convertible warrants into equity shares across seven accounts as of September 30, 2026.
Why it mattersWarrant conversion brings ₹12.06 Cr in equity capital and signals promoter financial commitment, helping fund ongoing capex while slightly diluting non-promoter equity.
Total shares allotted: 25,20,000Total transaction value: ₹12.06 CrCapital infused vs Market cap: ~4.1%Allotment Date: 30-09-2026
📅 Short termMarginally positive sentiment as promoters infuse cash by converting warrants, though equity base expands.
📈 Long termSupports equity base expansion and provides funding flexibility for the company's ₹24.43 Cr API capacity expansion project.
⚠ Risk flags
- Equity dilution from warrant conversion
- Thin operating profit margins (1.9% TTM)
Key Highlights
Total of 25,20,000 convertible warrants converted into equity shares on 30-09-2026
Cumulative transaction consideration of ~₹12.06 Cr infused by promoter group entities
Bina Rajesh Ghatalia converted 5,00,000 warrants (value ₹2,39,25,000), taking holding to 14.13%
Nimit Rajesh Ghatalia converted 5,00,000 warrants (value ₹2,39,25,000), taking holding to 5.18%
Transaction represents warrant conversion price of ~₹47.85 per share
👀 What to Watch
Monitor updated shareholding pattern filings to track total promoter percentage changes and upcoming quarterly results to check deployment of funds toward ongoing capex.
Aarey Drugs Allots 25.2 Lakh Shares to Promoters via Warrant Conversion Worth ₹12.06 Cr
Aarey Drugs and Pharmaceuticals has disclosed warrant conversions under SEBI PIT regulations resulting in an allotment of 25,20,000 equity shares to promoter group members on September 30, 2026. The total transaction value across seven promoter entities stands at approximately ₹12.06 Cr, representing ~4.1% of the company's current market cap of ₹291 Cr. Key promoter members including Bina Ghatalia, Mihir Ghatalia, and Nimit Ghatalia converted warrants into equity shares, infusing equity capital into the business.
Confidence: HIGH
What changedPromoters exercised 25,20,000 convertible warrants into equity shares across seven accounts as of September 30, 2026.
Why it mattersWarrant conversion brings ₹12.06 Cr in equity capital and signals promoter financial commitment, helping fund ongoing capex while slightly diluting non-promoter equity.
Total shares allotted: 25,20,000Total transaction value: ₹12.06 CrCapital infused vs Market cap: ~4.1%Allotment Date: 30-09-2026
📅 Short termMarginally positive sentiment as promoters infuse cash by converting warrants, though equity base expands.
📈 Long termSupports equity base expansion and provides funding flexibility for the company's ₹24.43 Cr API capacity expansion project.
⚠ Risk flags
- Equity dilution from warrant conversion
- Thin operating profit margins (1.9% TTM)
Key Highlights
Total of 25,20,000 convertible warrants converted into equity shares on 30-09-2026
Cumulative transaction consideration of ~₹12.06 Cr infused by promoter group entities
Bina Rajesh Ghatalia converted 5,00,000 warrants (value ₹2,39,25,000), taking holding to 14.13%
Nimit Rajesh Ghatalia converted 5,00,000 warrants (value ₹2,39,25,000), taking holding to 5.18%
Transaction represents warrant conversion price of ~₹47.85 per share
👀 What to Watch
Monitor updated shareholding pattern filings to track total promoter percentage changes and upcoming quarterly results to check deployment of funds toward ongoing capex.
Aarey Drugs Allots 11.5 Lakh Shares on Warrant Conversion, Raises ₹5.50 Cr
Aarey Drugs and Pharmaceuticals approved the allotment of 11,50,000 equity shares upon conversion of warrants on September 30, 2026. The conversion was completed at an issue price of ₹63.80 per warrant, with the receipt of the remaining 75% consideration totaling ₹5.50 crore (₹47.85 per warrant). This brings the company's total issued and paid-up share capital up from 3,07,24,303 shares to 3,18,74,303 shares. A total of 14,80,000 warrants remain outstanding for conversion from the original 50,00,000 warrant issue.
Confidence: HIGH
What changed11.5 lakh warrants were converted into equity shares, raising ₹5.50 crore in cash and expanding paid-up capital by 3.74%.
Why it mattersProvides incremental equity capital to support ongoing operations or capex, accompanied by a minor dilution in existing shareholding.
Shares allotted: 11,50,000Funds received: ₹5,50,27,500Issue price per share: ₹63.80Outstanding warrants: 14,80,000Capital dilution: 3.74%
📅 Short termNeutral; warrant conversions are expected events within the 18-month window and create modest equity dilution against fresh capital inflow.
📈 Long termStrengthens net worth marginally and aids balance sheet liquidity to support API manufacturing expansions.
⚠ Risk flags
- Equity dilution for existing public shareholders
- Further dilution pending from 14.80 lakh outstanding warrants
Key Highlights
Allotment of 11,50,000 equity shares of face value ₹10 each pursuant to warrant conversion.
Received balance 75% amount of ₹47.85 per warrant, totaling ₹5,50,27,500.
Issue price fixed at ₹63.80 per share (including a premium of ₹53.80 per share).
Paid-up share capital increased from ₹30.72 crore to ₹31.87 crore.
14,80,000 warrants remain outstanding for conversion within the 18-month tenure from May 23, 2025.
👀 What to Watch
Track the deployment of funds towards the company's planned ₹24.43 crore API capex and monitor the conversion status of the remaining 14.80 lakh warrants before November 2026.
Aarey Drugs Allots 11.5 Lakh Shares on Warrant Conversion, Raises ₹5.50 Cr
Aarey Drugs and Pharmaceuticals approved the allotment of 11,50,000 equity shares upon conversion of warrants on September 30, 2026. The conversion was completed at an issue price of ₹63.80 per warrant, with the receipt of the remaining 75% consideration totaling ₹5.50 crore (₹47.85 per warrant). This brings the company's total issued and paid-up share capital up from 3,07,24,303 shares to 3,18,74,303 shares. A total of 14,80,000 warrants remain outstanding for conversion from the original 50,00,000 warrant issue.
Confidence: HIGH
What changed11.5 lakh warrants were converted into equity shares, raising ₹5.50 crore in cash and expanding paid-up capital by 3.74%.
Why it mattersProvides incremental equity capital to support ongoing operations or capex, accompanied by a minor dilution in existing shareholding.
Shares allotted: 11,50,000Funds received: ₹5,50,27,500Issue price per share: ₹63.80Outstanding warrants: 14,80,000Capital dilution: 3.74%
📅 Short termNeutral; warrant conversions are expected events within the 18-month window and create modest equity dilution against fresh capital inflow.
📈 Long termStrengthens net worth marginally and aids balance sheet liquidity to support API manufacturing expansions.
⚠ Risk flags
- Equity dilution for existing public shareholders
- Further dilution pending from 14.80 lakh outstanding warrants
Key Highlights
Allotment of 11,50,000 equity shares of face value ₹10 each pursuant to warrant conversion.
Received balance 75% amount of ₹47.85 per warrant, totaling ₹5,50,27,500.
Issue price fixed at ₹63.80 per share (including a premium of ₹53.80 per share).
Paid-up share capital increased from ₹30.72 crore to ₹31.87 crore.
14,80,000 warrants remain outstanding for conversion within the 18-month tenure from May 23, 2025.
👀 What to Watch
Track the deployment of funds towards the company's planned ₹24.43 crore API capex and monitor the conversion status of the remaining 14.80 lakh warrants before November 2026.
Q1 Revenue Falls 56.3% YoY to Rs 44.63 Cr; Net Profit Declines 25.3% to Rs 1.02 Cr
Aarey Drugs & Pharmaceuticals reported a 56.3% YoY drop in Q1 FY27 revenue from operations to Rs 44.63 Cr compared to Rs 102.21 Cr in Q1 FY26. Profit Before Tax fell 70.2% YoY to Rs 0.52 Cr (Rs 51.56 lakhs) against Rs 1.73 Cr in the year-ago period. Net profit stood at Rs 1.02 Cr, down 25.3% YoY, supported by a deferred tax credit of Rs 0.81 Cr. Finance costs remained high at Rs 1.67 Cr, up 61.4% YoY.
Confidence: HIGH
What changedAarey Drugs released its unaudited standalone financial results for Q1 ended June 30, 2026, marking a sharp sequential and YoY drop in top-line revenue.
Why it mattersA 56% top-line contraction combined with elevated finance costs puts severe pressure on pre-tax profitability, underscoring high revenue volatility in the bulk drugs business.
Revenue from Operations (Q1): Rs 44.63 Cr (4,462.55 lakhs)Net Profit (Q1): Rs 1.02 Cr (102.37 lakhs)Profit Before Tax (Q1): Rs 0.52 Cr (51.56 lakhs)Finance Costs (Q1): Rs 1.67 Cr (167.44 lakhs)EPS (Q1): Rs 0.36
📅 Short termNegative sentiment likely given the steep drop in revenue and pre-tax profit against elevated valuation multiples (TTM P/E ~66x).
📈 Long termTurnaround depends on commissioning and margin expansion from the planned 26,000 MT API manufacturing expansion project.
⚠ Risk flags
- Sharp top-line volatility and volume contraction
- Finance costs (Rs 1.67 Cr) significantly exceed operating PBT (Rs 0.52 Cr)
- Reliance on deferred tax credits (Rs 0.81 Cr) to support PAT
Key Highlights
Revenue from operations plunged 56.3% YoY to Rs 4,462.55 lakhs from Rs 10,220.83 lakhs in Q1 FY26
Profit before tax contracted 70.2% YoY to Rs 51.56 lakhs compared to Rs 172.82 lakhs in Q1 FY26
Net profit came in at Rs 102.37 lakhs versus Rs 137.13 lakhs in Q1 FY26, down 25.3% YoY
Finance costs surged 61.4% YoY to Rs 167.44 lakhs from Rs 103.76 lakhs in Q1 FY26
Diluted EPS dropped to Rs 0.36 from Rs 0.48 in Q1 FY26
👀 What to Watch
Track subsequent quarterly volume trends and the commercialization progress of the 26,000 MT API/bulk drug capex to assess operational recovery.
Rs 12.06 Cr raised by Aarey Drugs via conversion of 25.20 lakh warrants
Aarey Drugs & Pharmaceuticals has allotted 25.20 lakh equity shares following the conversion of warrants issued in May 2025. The company received Rs 12.06 crore, representing the final 75% payment of the Rs 63.80 issue price per warrant. The allottees are primarily from the promoter group (Ghatalia family), and the conversion results in an equity dilution of approximately 17.6%. This cash infusion is significant for a company with a TTM PAT of only Rs 4 crore.
Confidence: HIGH
What changedThe company has converted a portion of its outstanding warrants into equity, resulting in a cash infusion of Rs 12.06 crore and an increase in the total number of outstanding shares.
Why it mattersFor a small-cap company with thin operating margins (1.9%) and limited pricing power, this capital infusion (equivalent to 3x TTM PAT) provides essential liquidity for its ongoing Rs 24.43 crore expansion project.
Conversion Amount: Rs 12.06 crConversion vs TTM PAT: 301.5%Equity Dilution: 17.6%Issue Price: Rs 63.80Outstanding Warrants: 24,80,000
📅 Short termThe stock may see neutral to positive sentiment as the cash infusion strengthens the balance sheet, though the equity dilution is now formalized.
📈 Long termThe conversion by promoters signals confidence in the business; however, long-term value depends on the successful operationalization of the 26,000 MT capacity expansion to improve thin margins.
⚠ Risk flags
- Equity dilution of ~17.6%
- Thin operating margins (1.9%) leaving little room for error
- High promoter concentration in the warrant conversion
Key Highlights
Allotment of 25,20,000 equity shares of face value Rs 10 each upon warrant conversion
Total cash inflow of Rs 12,05,82,000 received as the final 75% subscription amount
Issue price fixed at Rs 63.80 per share, which is a ~22% discount to the current market price of Rs 81.8
Paid-up capital increased from 2,83,54,303 shares to 3,33,54,303 shares
24,80,000 warrants remain outstanding for conversion before the May 2027 deadline
👀 What to Watch
Investors should monitor if these proceeds are utilized to accelerate the Phase 2 CAPEX project (13,000 MT) scheduled for completion in August 2026 or to reduce the Rs 50 crore debt burden.
Aarey Drugs Reports FY26 Results; Total Assets Grow 17% to ₹211.24 Cr
Aarey Drugs & Pharmaceuticals Limited reported its audited financial results for the fiscal year ended March 31, 2026, showing a healthy expansion in its balance sheet. Total assets grew to ₹211.24 crore from ₹180.50 crore in the previous year, while total equity increased to ₹143.69 crore. The company received an unmodified audit opinion, although auditors noted that debtor and creditor balances are subject to confirmation. Additionally, the board reviewed the utilization of funds raised through the preferential issue of convertible warrants.
Key Highlights
Total assets increased by 17% year-on-year to ₹211.24 crore as of March 31, 2026.
Total equity (Share Capital + Other Equity) rose to ₹143.69 crore, up from ₹133.00 crore in FY25.
Current assets, including trade receivables and inventories, reached ₹176.70 crore compared to ₹155.06 crore last year.
The company received an unmodified audit opinion, ensuring the reliability of the reported financial figures.
Board approved the statement of fund utilization for convertible warrants issued via the preferential route.
👀 What to Watch
Investors should focus on the upcoming Profit & Loss statement to evaluate margin trends and monitor the 'Emphasis of Matter' regarding the confirmation of debtor balances, which are significant to the current asset base.
Aarey Drugs & Pharmaceuticals Approves Q3 FY26 Unaudited Financial Results
Aarey Drugs & Pharmaceuticals Limited held a board meeting on February 11, 2026, to approve the unaudited financial results for the quarter ended December 31, 2025. The board confirmed the submission of the Limited Review Report and MD/CFO certifications as per SEBI regulations. The company operates in a single business segment, focusing on bulk drugs and chemical imports. While the specific profit and loss figures were not detailed in this cover letter, the results have been officially taken on record.
Key Highlights
Board approved unaudited financial results for the quarter ended December 31, 2025.
The board meeting was held on February 11, 2026, from 3:00 p.m. to 6:30 p.m.
MD and CFO provided formal certification regarding the accuracy of the financial statements.
The company confirmed it operates within a single reporting segment.
👀 What to Watch
Investors should look for the detailed financial tables on the stock exchange to evaluate revenue growth and margin performance. Monitor the company's ability to manage raw material costs in the bulk drug and solvent import business.
