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Supreme Engineering Shareholders Approve Preferential Issue of Shares and Warrants at 39th AGM
Supreme Engineering Limited has submitted voting results and the Scrutinizer's Report for its 39th AGM held on October 01, 2026, where all 7 resolutions were approved by shareholders with 100% majority of valid votes cast. Key special resolutions passed include the approval to issue and allot equity shares and convertible warrants on a preferential basis, alongside an increase in authorized share capital. A total of 11,47,36,746 valid votes were polled across 25 participating members, with 11,47,31,740 votes cast in favor.
Confidence: HIGH
What changedShareholders formally approved enabling resolutions to raise capital via preferential equity shares and convertible warrants, alongside increasing authorized capital.
Why it mattersThe company has a negative net worth of Rs -89 Cr, debt of Rs 92 Cr, and going concern uncertainty; equity dilution via preferential allotment is critical for its debt settlement and revival strategy.
Total valid votes: 114736746Votes in favour (Resolution 1): 114731740Votes against (Resolution 1): 5006AGM date: October 01, 2026
📅 Short termClearance of shareholder approval allows the board to proceed with pricing, in-principle stock exchange approvals, and allotment.
📈 Long termExecution of the preferential issue is pivotal to reducing debt from Rs 92 Cr, restoring positive net worth, and normalizing working capital operations.
⚠ Risk flags
- Severe dilution risk from preferential shares and convertible warrants
- High financial leverage with Rs 92 Cr debt and negative net worth of Rs -89 Cr
Key Highlights
All 7 resolutions passed with 100% of valid votes (11,47,31,740 shares in favor vs 5,006 against)
Shareholders approved the issuance and allotment of equity shares on a preferential basis
Shareholders approved the issuance and allotment of convertible warrants on a preferential basis
Approved increase in authorized share capital and consequent alteration to the MOA
Total valid votes counted stood at 11,47,36,746 from 25 members who cast remote e-votes
👀 What to Watch
Track subsequent exchange filings for the exact preferential pricing, issue size in Rs cr, and list of proposed allottees to quantify capital infusion against its negative net worth of Rs -89 Cr.
Supreme Eng Secures Rs 2.84 Cr Defence Ministry Order for Specialty Alloy Steel Bars
Supreme Engineering Limited has secured a domestic supply order worth Rs 2.84 crore from the Ministry of Defence. The contract entails supplying specialty alloy steel bars for defence applications, to be executed within six months. The order represents roughly 14% of the company's TTM revenue of Rs 20 crore, marking a sizeable win relative to recent quarterly revenue levels. However, execution will be critical given the company's distressed balance sheet, with debt at Rs 92 crore and a negative net worth of Rs -89 crore.
Confidence: HIGH
What changedSupreme Engineering received a Rs 2.84 crore purchase order from the Ministry of Defence.
Why it mattersThe order provides revenue visibility of ~14% of annual sales to a financially distressed firm operating in revival mode.
Order value: Rs. 2,83,55,145.12Execution timeline: Six MonthsOrder value vs TTM revenue: ~14.2%
📅 Short termPositive sentiment driver as defence wins enhance credibility, though financial execution within 6 months remains key.
📈 Long termValidates technical capabilities in defence-grade alloy steels, but long-term upside remains heavily constrained by deep negative net worth (-Rs 89 Cr) and debt overhang (Rs 92 Cr).
⚠ Risk flags
- Execution and working capital risks due to stressed balance sheet (Net worth: Rs -89 Cr, Debt: Rs 92 Cr)
- Severe going-concern and liquidity uncertainties reported in recent filings
Key Highlights
Received domestic supply order worth Rs 2,83,55,145.12 from the Ministry of Defence
Order scope covers specialty alloy steel bars for defence application
Execution timeline stipulated is six months
Contract value represents approximately 14% of TTM revenue (Rs 20 Cr)
👀 What to Watch
Track quarterly revenue recognition over the next two quarters and observe whether working capital constraints affect the six-month delivery timeline.
Supreme Engineering Wins ₹5.29 Cr Superalloy Order from Govt-Managed Entity
Supreme Engineering Limited has secured a domestic purchase order amounting to ₹5.29 crore for the supply of Superalloy. The order is awarded by an entity managed by the Ministry of Heavy Industries and Public Enterprises, with an execution timeline of six months. Relative to Supreme Engineering's TTM revenue of ₹20 crore, this single order represents approximately 26.4% of annual revenue, making it a sizable development for the financially stressed company. The contract is not a related-party transaction.
Confidence: HIGH
What changedSupreme Engineering secured a ₹5.29 crore product supply order for Superalloys from a Ministry-managed enterprise.
Why it mattersAt ~26.4% of TTM revenue, this order provides critical revenue visibility and capacity utilization for a company currently undergoing operational revival.
Order value: Rs. 5,28,86,700.84 /-Execution period: Six MonthsOrder vs TTM revenue: ~26.4%
📅 Short termPositive sentiment driver given the substantial order size relative to current low quarterly revenues (~₹4.07 Cr in Q1 FY27).
📈 Long termHelps validate manufacturing capabilities in superalloys, but long-term sustainability hinges on resolving high debt (₹92 Cr) and negative net worth (₹-89 Cr).
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Execution and working capital risks due to stressed liquidity and negative net worth
- Tight 6-month delivery timeline
Key Highlights
Received domestic purchase order valued at ₹5,28,86,700.84
Customer is a company managed by the Ministry of Heavy Industries and Public Enterprises
Scope entails supply of Superalloy products to be executed within six months
Contract represents approximately 26.4% of Supreme Engineering's TTM revenue of ₹20 Cr
👀 What to Watch
Track quarterly revenue and working capital in upcoming quarters to monitor execution progress within the 6-month timeline amid the company's existing liquidity constraints.
Supreme Engineering revises Rs 110.75 Cr preferential issue; Ashish Kacholia added as investor
Supreme Engineering issued a corrigendum to its AGM notice following observations from NSE regarding its proposed preferential issue. Due to SEBI ICDR disqualifications, 5.075 crore shares were reallocated from ineligible investors to new investors, including 3.20 crore shares to Ashish Kacholia. The company is raising up to Rs 73.05 crore via 28.10 crore equity shares at Rs 2.60 each, with total proceeds reaching Rs 110.75 crore including warrants. This fundraise is significant compared to its TTM revenue of Rs 20 crore and is primarily earmarked for debt settlement under OTS (Rs 34 crore) and working capital (Rs 39.75 crore).
Confidence: HIGH
What changedNSE directed revisions to proposed preferential issue allottees due to SEBI ICDR disqualifications; 5.075 crore shares were reallocated to new investors including Ashish Kacholia.
Why it mattersThe company carries Rs 92 crore in debt and a negative net worth of Rs -89 crore; the Rs 110.75 crore fundraise is critical for debt settlement and operational revival.
Total Issue Proceeds: Rs 110.7522 croreIssue Proceeds vs TTM Revenue: ~554%Equity Shares Issue Value: Rs 73,05,22,000Issue Price per Share: Rs 2.60OTS Settlement Allocation: Rs 34.00 crore
📅 Short termShareholders will vote on the revised resolutions at the AGM on October 01, 2026.
📈 Long termIf successfully executed, the Rs 110.75 crore capital infusion could settle legacy bank debts (Rs 34 Cr OTS) and stabilize working capital, potentially addressing going-concern issues.
⚠ Risk flags
- Severe equity dilution as total shares expand from 24.99 crore to 67.59 crore post warrant conversion
- Dependency on regulatory in-principle and listing approvals from stock exchanges
Key Highlights
Replaced 5,07,50,000 ineligible shares under SEBI ICDR regulations with new allottees, including Ashish Kacholia (3,20,00,000 shares)
Proposed preferential allotment of 28,09,70,000 equity shares at Rs 2.60 per share, raising Rs 73,05,22,000
Total issue proceeds across shares and warrants targeted at Rs 110.7522 crore, vs TTM revenue of Rs 20 crore
Key utilization includes Rs 34.00 crore for OTS bank dues and Rs 39.7522 crore for working capital
👀 What to Watch
Track shareholder voting outcomes at the AGM on October 01, 2026, and monitor subsequent in-principle approval from stock exchanges for the revised allotment list.
Supreme Engineering Approves Rs 73.05 Cr Preferential Issue of 28.1 Cr Shares at Rs 2.60/Share
Supreme Engineering's Board approved the preferential issue of up to 28,09,70,000 equity shares at Rs 2.60 each, amounting to approximately Rs 73.05 Cr. This follows the disqualification under SEBI ICDR regulations of 9 proposed allottees holding 5.075 Cr shares, which have now been reallocated to 16 new investors including marquee investor Ashish Kacholia (3.20 Cr shares for Rs 8.32 Cr). The fundraise is critical for the financially distressed company, which carries negative net worth of Rs -89 Cr and debt of Rs 92 Cr.
Confidence: HIGH
What changed9 previously proposed allottees were disqualified under SEBI ICDR rules; 5.075 Cr shares were reallocated to new investors including Ashish Kacholia, keeping overall issue size at 28.1 Cr shares.
Why it mattersThe Rs 73.05 Cr capital injection is vital for the company's turnaround, providing liquidity to pare down its Rs 92 Cr debt and cure negative net worth of Rs -89 Cr.
Total shares to be issued: 28,09,70,000Issue price per share: Rs 2.60Total fundraise value: Rs 73.05 CrFundraise vs Market Cap: ~22.8%Disqualified and reallocated shares: 5,07,50,000
📅 Short termMarket sentiment will likely react positively to the onboarding of institutional and prominent individual investors such as Ashish Kacholia at Rs 2.60 per share, though the issue price is at a discount to the current trading price of Rs 3.90.
📈 Long termIf successfully executed, the Rs 73 Cr equity infusion could significantly assist the revival strategy, address negative net worth, and provide working capital to scale operations.
⚠ Risk flags
- Heavy equity dilution given 28.1 Cr new shares being issued
- Subject to shareholder approval and regulatory scrutiny following SEBI ICDR disqualification of prior allottees
- Ongoing operational turnaround and going-concern uncertainty
Key Highlights
Approved preferential issue of up to 28,09,70,000 equity shares of face value Rs 1 at Rs 2.60 each
Total issue value stands at approximately Rs 73.05 Cr, representing ~22.8% of current market cap
5,07,50,000 shares reallocated after disqualification of 9 entities under SEBI ICDR Regulations 159 and 167
Ashish Kacholia allocated 3,20,00,000 shares for a consideration of Rs 8.32 Cr
Promoter group including Sanjay Chowdhri to subscribe to 7,00,00,000 shares (Rs 18.2 Cr total consideration)
👀 What to Watch
Track the upcoming shareholder voting outcome and regulatory approvals for the preferential issue, followed by actual fund receipt and debt settlement disclosures.
Supreme Engineering Q1 FY27 Revenue Falls 52% YoY to ₹4.07 Cr; Reports Net Profit on Exceptional Gain
Supreme Engineering reported Q1 FY27 revenue from operations of ₹4.07 Cr (₹406.95 lakh), marking a sharp decline of 51.6% YoY from ₹8.40 Cr in Q1 FY26. The company posted a net profit of ₹0.99 Cr (₹98.98 lakh), primarily driven by an exceptional gain of ₹25.70 Cr (₹2570 lakh) from resolving joint development disputes and sale of flats. Crucially, the auditor reiterated a material uncertainty on going concern due to negative net worth and unpaid dues, while noting that an OTS proposal was sanctioned on August 13, 2026, with a 10% advance deposit paid.
Confidence: HIGH
What changedSupreme Engineering released its Q1 FY27 financial results showing declining core revenues offset by a ₹25.70 Cr exceptional gain, and confirmed bank approval of its OTS proposal.
Why it mattersThe company has an eroded net worth (-₹89 Cr) and NPA debt status; successful closure of the OTS is critical to resolving its severe going concern uncertainties.
Revenue from Operations (Q1 FY27): ₹406.95 lakhExceptional Gain: ₹2570 lakhNet Profit (Q1 FY27): ₹98.98 lakhOTS Upfront Deposit: 10% of proposed settlement amount
📅 Short termMarket focus will center on terms of the August 13 OTS approval, capital raising plans to fund the settlement, and ongoing statutory non-compliance resolutions.
📈 Long termLong-term turnaround depends entirely on debt settlement, capital restructuring, clearing audit qualifications, and restoring normal operational working capital.
⚠ Risk flags
- Material uncertainty on Going Concern with deeply negative net worth and NPA status
- Multiple statutory defaults: unfiled ITRs, unpaid statutory dues (TDS, PF, ESIC), and unconducted cost/internal audits
- Core operations remain weak with a >50% YoY drop in quarterly revenue
Key Highlights
Revenue from operations fell 51.6% YoY to ₹4.07 Cr (₹406.95 lakh) compared to ₹8.40 Cr (₹840.91 lakh) in Q1 FY26
Net profit stood at ₹0.99 Cr (₹98.98 lakh) versus ₹0.07 Cr (₹7.33 lakh) in Q1 FY26, boosted by ₹25.70 Cr exceptional income
Bank approved One-Time Settlement (OTS) proposal on August 13, 2026; company deposited a 10% preliminary settlement amount
Auditor flagged significant statutory non-compliances, including unfiled income tax returns for FY21, unconducted cost audits since FY21, and unpaid MSME interest
👀 What to Watch
Track the execution timeline and funding arrangement for the full OTS payment to bankers, as well as concrete developments regarding proposed preferential allotments or asset monetizations.
Supreme Infra Cuts Corporate Guarantee by 80% to ₹36.51 Cr under Court-Approved Settlement
Supreme Infrastructure India Limited announced a court-approved resolution plan for its former subsidiary, Kopargaon Ahmednagar Tollways (Phase I) Private Limited. Under the plan, its corporate guarantee exposure is slashed by nearly 80% (₹143.49 crore reduction) from ~₹180 crore to ₹36.51 crore. The ₹36.51 crore settlement extinguishes financial creditor claims and will lead to the release of associated guarantees and charges upon payment completion. Furthermore, client receivables against claims will remain with Supreme Infrastructure post-lender payments.
Confidence: HIGH
What changedA court-approved amicable resolution plan reduced Supreme Infra's contingent corporate guarantee liability by 80% for its erstwhile tollway subsidiary.
Why it mattersA reduction of ₹143.49 crore in potential exposure materially lowers contingent liability risks relative to the company's net worth of ₹347 crore and high debt of ₹1,436 crore.
Original Corporate Guarantee Exposure: approximately ₹180 croreSettlement Value: ₹36.51 croreExposure Reduction: approximately ₹143.49 crore (nearly 80%)Reduction vs Net Worth: ~41.4%
📅 Short termPositive sentiment driver as invocation risk of a sizeable legacy corporate guarantee is defused.
📈 Long termProgress in de-risking the balance sheet by pruning legacy contingent liabilities, supporting overall financial restructuring efforts.
⚠ Risk flags
- Release of guarantees and encumbrances is conditional upon timely payment of the last tranche under the agreed schedule
- High overall debt load (₹1,436 crore) and ongoing operating losses
Key Highlights
Corporate guarantee exposure reduced from approximately ₹180 crore to ₹36.51 crore.
Contingent liability cut by ₹143.49 crore, or nearly 80%, through a court-approved resolution plan.
Settlement claims resolved for an aggregate amount of ₹3,651 lakh (₹36.51 crore).
Company retains client receivables against claims of the project post payment to lenders.
👀 What to Watch
Track the payment tranches towards the ₹36.51 crore settlement and the formal release confirmation of guarantees and charges from financial creditors.
Supreme Engineering Plans ₹73.05 Cr Preferential Issue and Share Capital Increase at AGM
Supreme Engineering Limited has issued notice for its 39th AGM on October 01, 2026, seeking shareholder approval for a massive fundraise. The company plans to issue up to 28,09,70,000 equity shares at ₹2.60 per share, raising up to ₹73.05 crore from promoters and non-promoters. Relative to its current market cap of ~₹39 crore, the proposed issue represents ~187% of equity value. Additionally, the company proposes increasing its authorized share capital to ₹67.70 crore from ₹25.10 crore to support the capital expansion and revival process.
Confidence: HIGH
What changedThe company has called an AGM to seek approval for an authorized capital increase and a ₹73.05 crore preferential equity issue.
Why it mattersThe ₹73.05 crore equity infusion represents ~187% of current market cap and could significantly address the company's negative net worth (-₹89 crore) and ongoing debt restructuring.
Total Preferential Fundraise: ₹73,05,22,000Issue Price per Share: Rs 2.60Fundraise vs Current Market Cap: ~187%Fundraise vs TTM Revenue: ~292%Revised Authorised Capital: Rs. 67,69,70,000
📅 Short termShareholders will vote on the proposed resolutions through September 30, 2026; market attention will focus on shareholder approval and subsequent SEBI/exchange clearances.
📈 Long termIf successfully executed, the capital infusion will provide crucial equity to assist in debt reduction and reverse the negative net worth of ₹89 crore, supporting operations under going-concern distress.
⚠ Risk flags
- Severe equity dilution given the issuance of 28.1 crore shares against existing capital base
- Execution and regulatory approval risks for preferential allotment in a financially stressed company
Key Highlights
Proposed preferential issue of up to 28,09,70,000 equity shares aggregating up to ₹73,05,22,000
Issue price fixed at ₹2.60 per share (including a premium of ₹1.60 per share)
Proposed increase in authorized share capital from ₹25.10 crore to ₹67.697 crore
Promoter Sanjay Chowdhri and relatives are participating, with Sanjay Chowdhri proposed to be allotted 5,50,00,000 shares (₹14.30 crore)
AGM scheduled for October 01, 2026, with remote e-voting from September 28 to September 30, 2026
👀 What to Watch
Track the outcome of shareholder voting on October 01, 2026, and monitor subsequent regulatory in-principle listing approvals and actual cash inflows to see if debt settlements progress.
Supreme Engineering Reports FY26 Revenue of ₹24.78 Cr; Loss Narrows to ₹0.60 Cr, Notes Lender OTS Approval
Supreme Engineering submitted its audited FY26 financial results along with exchange clarifications. Full-year revenue grew 47.4% YoY to ₹24.78 Cr (₹2,478.33 lakhs) from ₹16.82 Cr in FY25, while net loss narrowed significantly to ₹0.60 Cr (₹60.03 lakhs) compared to a loss of ₹11.81 Cr in FY25. For Q4 FY26, revenue stood at ₹4.36 Cr with a net loss of ₹5.30 lakhs. Crucially, the company disclosed that subsequent to year-end, lenders approved its One-Time Settlement (OTS) proposal for outstanding secured borrowings, though the company continues to face severe negative net worth of ₹-89.43 Cr and numerous regulatory/audit non-compliances.
Confidence: HIGH
What changedSupreme Engineering filed audited Q4 and full-year FY26 results with clarifications, confirming lender approval of an OTS proposal post-year-end.
Why it mattersWhile operational losses have narrowed significantly, the business remains under going-concern distress with ₹90.39 Cr in borrowings and deeply negative net worth.
FY26 Revenue: ₹24.78 CrFY26 Net Loss: ₹0.60 CrQ4 FY26 Revenue: ₹4.36 CrTotal Net Worth: ₹-89.43 CrTotal Borrowings: ₹90.39 Cr
📅 Short termFocus will remain on the specific settlement terms, timelines, and payment sources for the lender-approved OTS.
📈 Long termLong-term viability is entirely contingent on successful debt restructuring, clearing statutory non-compliances, and turning net worth positive.
⚠ Risk flags
- Going concern material uncertainty with negative net worth of ₹-89.43 Cr
- Loans classified as NPA since August 2021
- Unpaid statutory dues (TDS, PF, Professional Tax) and absence of Cost/Internal Audits
- No appointed Company Secretary resulting in non-compliance under Companies Act
Key Highlights
FY26 total revenue from operations increased to ₹24.78 Cr compared to ₹16.82 Cr in FY25.
FY26 net loss narrowed substantially to ₹0.60 Cr from ₹11.81 Cr in the previous year.
Lender approved the company's One-Time Settlement (OTS) proposal for NPA secured borrowings post balance sheet date.
Total equity stands at negative ₹89.43 Cr (-₹8,943.45 lakhs) against total borrowings of ₹90.39 Cr.
Multiple compliance lapses noted, including absence of a Company Secretary, pending income tax returns (FY20), and pending cost/internal audits.
👀 What to Watch
Track the execution and funding of the One-Time Settlement (OTS) with lenders, alongside any capital reduction or equity infusion plans needed to address the negative net worth.
Supreme Eng proposes ₹73.05 Cr preferential issue of 28.10 Cr shares at ₹2.60/share
Supreme Engineering has issued a corrigendum detailing the investor list for its proposed preferential issue of up to 28,09,70,000 equity shares (face value ₹1) at ₹2.60 per share, aiming to raise approximately ₹73.05 crore. The capital raise is massive compared to the company's current market cap of ~₹35 crore and TTM revenue of ~₹25 crore. Promoters intend to subscribe to 7.00 crore shares (₹18.20 crore), while 68 non-promoters account for the remaining 21.10 crore shares (₹54.85 crore). The proposed infusion is pivotal for the distressed company, which carries ₹92 crore in debt and a negative net worth of ₹-89 crore.
Confidence: HIGH
What changedSupreme Engineering published a corrected list of 72 investors for its proposed ₹73.05 crore preferential equity share issuance.
Why it mattersThe capital infusion represents over 200% of current market cap and ~292% of TTM revenue, providing critical balance-sheet relief to address negative net worth and bank liabilities.
Total shares proposed: 28,09,70,000Issue price: Rs 2.60Total fundraise value: Rs 73.05 CrFundraise vs Market Cap: ~209%Total investors: 72
📅 Short termFocus shifts to shareholder approval, exchange approvals, and the timeline for warrant/share subscription and funds inflow.
📈 Long termIf fully realized, this equity infusion could significantly assist the company's revival strategy by de-leveraging the ₹92 Cr debt load and restoring working capital.
⚠ Risk flags
- Substantial equity dilution for existing public shareholders
- Dependency on regulatory/exchange approvals and full funds receipt from 72 allottees
- Company currently operates under severe financial distress with negative net worth (₹-89 Cr)
Key Highlights
Proposed preferential allotment of up to 28,09,70,000 equity shares at ₹2.60 per share (including ₹1.60 premium).
Total fundraise size stands at approximately ₹73.05 crore across 72 investors.
Promoter group committing ₹18.20 crore (7,00,00,000 shares), led by Sanjay Chowdhri subscribing to 5.50 crore shares.
Non-promoter allotment spans 21,09,70,000 shares across 68 individual and institutional/firm investors.
👀 What to Watch
Track upcoming shareholder voting (EGM/postal ballot) and in-principle stock exchange approval, followed by actual fund receipt and allocation toward bank debt settlements.
Supreme Engineering approves ₹110.75 Cr preferential issue of equity shares and warrants
Supreme Engineering's Board approved raising up to ₹73.05 Cr via the preferential allotment of up to 28.097 Cr equity shares at ₹2.60 per share to 86 promoter and non-promoter investors. The Board also approved issuing up to 14.50 Cr convertible warrants at ₹2.60 each, aggregating to ₹37.70 Cr and convertible within 18 months. The combined potential fundraise of ₹110.75 Cr is over 3x the company's current market capitalization of ₹35 Cr and offers a critical liquidity boost against ₹92 Cr in debt and a negative net worth of -₹89 Cr. Additionally, adoption of Q1 FY27 financial results was deferred to an upcoming meeting.
Confidence: HIGH
What changedBoard approved a ₹110.75 Cr preferential issue consisting of 28.097 Cr equity shares and 14.50 Cr convertible warrants at ₹2.60 per security.
Why it mattersProvides a crucial equity lifeline to address negative net worth (-₹89 Cr) and debt obligations (₹92 Cr), though it will significantly dilute existing shareholding.
Equity shares proposed: 28,09,70,000Convertible warrants proposed: 14,50,00,000Issue price per share/warrant: Rs. 2.60Total fundraise value: ₹110.75 CrFundraise vs Market Cap: ~316%Fundraise vs Debt: ~120%
📅 Short termSentiment is likely to be supported by the substantial proposed capital infusion and promoter participation, pending shareholder approvals.
📈 Long termIf fully subscribed and utilized for debt settlement and working capital revival, it could restore going-concern viability, though EPS upside will face heavy dilution.
⚠ Risk flags
- Severe dilution risk with up to 42.597 Cr new shares/warrants being added.
- Subject to shareholder and regulatory approvals.
- High historical debt and ongoing business turnaround uncertainties.
Key Highlights
Preferential issuance of up to 28,09,70,000 equity shares at ₹2.60/share (FV ₹1 + premium ₹1.60), aggregating to ~₹73.05 Cr.
Issuance of up to 14,50,00,000 convertible warrants at ₹2.60 each (~₹37.70 Cr), exercisable within 18 months.
Promoter Sanjay Chowdhri to be allotted 5.50 Cr equity shares and 7.00 Cr warrants.
Total combined fundraise of ~₹110.75 Cr compares with ₹35 Cr market cap and ₹92 Cr debt.
👀 What to Watch
Track shareholder approval via EGM/postal ballot, actual fund inflows, debt settlement progress, and the rescheduled board meeting for Q1 results.
Order Book at ₹590.06 Cr (2.6x TTM Rev); Guides FY27 Rev at ₹250-300 Cr in Q1 Call
Supreme Power Equipment reported Q1 FY27 total income of ₹48.31 Cr (up 37.33% YoY) with EBITDA of ₹8.89 Cr (18.4% margin) and PAT of ₹4.9 Cr. The company secured ₹195.64 Cr in fresh orders during Q1, taking its order book to ₹590.06 Cr as of August 13, 2026 (~2.58x TTM revenue). Power transformers account for 76.91% of the book. Management guided for FY27 revenue of ₹250-300 Cr and ~₹400 Cr in FY28, backed by ramp-up at the 9,000 MVA Kannur facility.
Confidence: HIGH
What changedEarnings call transcript released detailing Q1 FY27 financials, an expanded order book of ₹590.06 Cr, and FY27/FY28 growth guidance.
Why it mattersThe order book offers ~2.58x revenue cover against TTM revenue (₹229 Cr), and expanded 9,000 MVA capacity enables higher-margin, high-voltage transformer execution.
Order book (Aug 2026): ₹590.06 crOrder book vs TTM revenue: ~258%Q1 FY27 order inflows: ₹195.64 crFY27 revenue guidance: ₹250 - 300 crTotal manufacturing capacity: 9,000 MVA
📅 Short termHealthy execution momentum and strong order inflow in Q1 provide revenue visibility for the upcoming quarters.
📈 Long termThe operationalization of the Kannur plant and shift toward larger power transformers (up to 200 MVA, 220 kV) position the company for management's ₹400 Cr revenue target by FY28.
⚠ Risk flags
- Execution timeline risks spanning 7 to 17 months across diverse projects
- Raw material cost volatility risk if not fully covered by price variation clauses
- Working capital intensity from state utility clients
Key Highlights
Order book reached ₹590.06 Cr as of August 13, 2026, with power transformers comprising ₹453.83 Cr (76.91%).
Secured ₹195.64 Cr in fresh order inflows across 10 orders during Q1 FY27.
Q1 FY27 total income grew 37.33% YoY to ₹48.31 Cr, while PAT grew 10.4% YoY to ₹4.9 Cr.
Management guided FY27 revenue at ₹250-300 Cr with EBITDA margins expected between 18% and 20%.
👀 What to Watch
Monitor execution timelines of the ₹590.06 Cr order book and capacity ramp-up at the newly operational 9,000 MVA Kannur facility in upcoming quarters.
Supreme Engineering Approves FY26 Audited Results; Auditor Issues Qualified Opinion
Supreme Engineering Limited approved its audited standalone financial results for Q4 and the financial year ended March 31, 2026. The statutory auditor, M/s Rushabh Davda and Associates, issued an audit report with a qualified opinion on the annual results. The company reported FY26 revenue of ₹20.42 crore and a net loss of ₹0.51 crore, operating under acute financial distress with a negative net worth of ₹-89 crore and debt of ₹92 crore.
Confidence: HIGH
What changedFormal approval and filing of delayed FY26 audited financial statements with an auditor qualification.
Why it mattersThe qualified audit opinion and deep negative net worth of ₹-89 crore underscore persistent operational and solvency challenges that limit business revival.
FY26 Revenue: ₹20.42 crFY26 Net Loss: ₹-0.51 crDebt vs Market Cap: ~151%Net Worth: ₹-89 cr
📅 Short termMarket sentiment is likely to remain cautious due to the delayed filing timeline and the auditor's qualified opinion.
📈 Long termLong-term viability remains uncertain without substantial equity infusion, debt resolution, and resolution of balance sheet distress.
⚠ Risk flags
- Auditor qualified opinion on financial statements
- Negative net worth of ₹-89 crore
- High debt burden of ₹92 crore against ₹61 crore market cap
- Delayed filing of full-year financial results
Key Highlights
Approved audited standalone financial results for Q4 and the financial year ended March 31, 2026.
Statutory auditor M/s Rushabh Davda and Associates issued a qualified opinion on FY26 financials.
Board meeting held on August 20, 2026, commenced at 5:30 p.m. and concluded at 6:00 p.m.
FY26 annual revenue recorded at ₹20.42 crore with a net loss of ₹-0.51 crore.
👀 What to Watch
Investors should scrutinize the specific qualifications raised in the statutory audit report, particularly regarding going concern validity, asset valuations, and bank settlements.
Q1 Revenue Up ~190% YoY to ₹24.12 Cr; ₹120 Cr FD Placed for Lender Settlement
Supreme Infrastructure India reported revenue from operations of ₹24.12 crore for the quarter ended June 30, 2026, marking a ~190% YoY surge and a 73.7% sequential rise from ₹13.89 crore in Q4FY26. The net loss for the quarter narrowed slightly to ₹59.14 crore from a loss of ₹60.24 crore in Q4FY26. The company reported a net worth of ₹178.09 crore. Operationally, the company reached a key financial milestone under its Scheme of Compromise and Arrangement by depositing a ₹120 crore Fixed Deposit with State Bank of India to satisfy remaining lender settlement dues.
Confidence: HIGH
What changedSupreme Infra delivered a sequential and YoY revenue rebound in Q1 while funding a ₹120 crore FD with SBI to finalize its debt compromise scheme.
Why it mattersCompleting the debt compromise scheme and stabilizing net worth at ₹178.09 crore are essential steps toward resolving SPV-level BOT debt and securing new EPC contracts.
Revenue from Operations: ₹24.12 CrNet Loss After Tax: ₹(59.14) CrReported Net Worth: ₹178.09 CrFD for Lender Settlement: ₹120 CrRevenue Growth YoY: ~190%
📅 Short termThe ₹120 crore deposit offers clarity on resolution of balance lender dues, though quarterly bottom-line losses remain significant.
📈 Long termLong-term turnaround depends on achieving operational profitability in the core EPC business and successfully restructuring the BOT portfolio debt.
⚠ Risk flags
- Continued net loss of ₹59.14 crore for the quarter
- Execution and resolution risks regarding legacy debt at BOT SPVs
Key Highlights
Revenue from operations increased ~190% YoY to ₹24.12 crore compared to ₹13.89 crore in Q4FY26
Net loss after tax reported at ₹59.14 crore vs ₹60.24 crore in Q4FY26
Reported positive net worth of ₹178.09 crore
Created a Fixed Deposit of ₹120 crore with lead bank SBI to meet balance obligations under the Scheme of Compromise and Arrangement
👀 What to Watch
Track the full discharge of lender liabilities under the Scheme and monitoring progress on the debt resolution of BOT project assets.
Order Book Reaches ₹590 Cr (2.6x TTM Rev); Q1 FY27 Revenue Up 37% YoY to ₹48.3 Cr
Supreme Power Equipment reported a 37.33% YoY increase in Q1 FY27 consolidated total income to ₹48.31 Cr, while net profit rose 10.04% YoY to ₹4.90 Cr. During the quarter, the company bagged 10 new orders totaling ₹195.64 Cr, including an entry into the Maharashtra market. The total consolidated order book reached ₹590.06 Cr as of August 13, 2026 (~2.58x TTM revenue), providing strong medium-term visibility. Additionally, the company highlighted a 3.5x capacity expansion from 2,500 MVA to 9,000 MVA, expanding into higher-value transformers up to 200 MVA / 220 kV.
Confidence: HIGH
What changedReleased Q1 FY27 investor presentation disclosing ₹195.64 Cr in new order wins, a ₹590.06 Cr order book, and capacity expansion to 9,000 MVA.
Why it mattersThe order book provides multi-year revenue visibility (2.58x TTM revenue), and the capacity jump to 9,000 MVA allows bidding for larger, higher-voltage utility and industrial contracts.
Consolidated Order Book: ₹590.06 CrOrder Book vs TTM Revenue: ~258%Q1 FY27 Order Inflow: ₹195.64 CrQ1 FY27 Total Income: ₹48.31 CrQ1 FY27 Net Profit: ₹4.90 CrExpanded Capacity: 9,000 MVA
📅 Short termExecution of the 10 recently secured orders (7-17 month timelines) should sustain strong quarterly topline growth, though raw material cost trends warrant monitoring.
📈 Long termThe 3.5x capacity expansion and entry into 200 MVA / 220 kV transformer segments structurally position the company to scale revenue toward ₹500+ Cr over the medium term.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Working capital intensity from tender-based utility contracts and extended receivables cycles.
- Raw material volatility in copper and CRGO electrical steel impacting operating margins.
- Execution and ramp-up risks at the new expanded manufacturing facility.
Key Highlights
Consolidated order book reached ₹590.06 Cr as of August 13, 2026, representing ~2.58x TTM revenue.
Secured 10 new orders worth ₹195.64 Cr in Q1 FY27 with execution horizons between 7 and 17 months.
Q1 FY27 consolidated total income grew 37.33% YoY to ₹48.31 Cr; EBITDA rose 32.02% YoY to ₹8.89 Cr.
Manufacturing capacity expanded 3.5x from 2,500 MVA to 9,000 MVA, enabling entry into up to 200 MVA / 220 kV segment.
👀 What to Watch
Track execution milestones of the ₹590.06 Cr order book and capacity utilisation ramp-up at the expanded manufacturing facility in upcoming quarterly updates.
Q1 FY27 Revenue Up 37% to ₹48.31 Cr; Order Book Reaches ₹590.06 Cr
Supreme Power Equipment reported a 37.33% YoY increase in Q1 FY27 total income to ₹48.31 Cr, while net profit grew 10.04% YoY to ₹4.90 Cr. During the quarter, the company secured 10 new orders worth ₹195.64 Cr (equivalent to ~85% of TTM revenue of ₹229 Cr) with delivery timelines spanning 7 to 17 months. Total order book reached ₹590.06 Cr as of August 13, 2026 (~2.58x TTM revenue), providing healthy revenue visibility. Management also highlighted geographic expansion into Maharashtra with a ₹13.50 Cr contract.
Confidence: HIGH
What changedAnnounced Q1 FY27 results showing 37% revenue growth and disclosed fresh order inflows of ₹195.64 Cr.
Why it mattersThe order book of ₹590.06 Cr offers strong revenue visibility for over two years relative to current TTM revenue of ₹229 Cr, supporting management's capacity scaling plans.
Q1 FY27 Total Income: ₹48.31 CrQ1 FY27 EBITDA: ₹8.89 CrQ1 FY27 Net Profit: ₹4.90 CrQ1 Order Inflows: ₹195.64 CrOrder Book (as of 13-Aug-2026): ₹590.06 CrOrder Book vs TTM Revenue: ~258%
📅 Short termStrong topline growth and solid order inflows provide positive momentum, though net margin moderation (PAT up 10% vs revenue up 37%) will be monitored by the market.
📈 Long termRamping capacity to support higher throughput and expanding geographically beyond southern states aligns with the company's objective to reach ₹500-550 Cr annual revenue potential.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Margin moderation acknowledged during the quarter
- Execution and delivery timelines spread across 7 to 17 months
- Tender-driven procurement cycles and working capital intensity
Key Highlights
Total income rose 37.33% YoY to ₹48.31 Cr in Q1 FY27 compared to ₹35.18 Cr in Q1 FY26.
EBITDA grew 32.02% YoY to ₹8.89 Cr and Net Profit rose 10.04% YoY to ₹4.90 Cr (EPS ₹1.96).
Secured 10 new orders worth ₹195.64 Cr during Q1, executable over 7–17 months.
Total order book stood at ₹590.06 Cr as of August 13, 2026 (~2.58x TTM revenue).
👀 What to Watch
Monitor execution speed across the ₹590 Cr order book and track utilization ramp-up at the new manufacturing facility alongside EBITDA margins in Q2 FY27.
₹60.32 Cr One-Time Settlement (OTS) with Bank of India Approved for Supreme Engineering
Supreme Engineering has accepted a One-Time Settlement (OTS) offer from Bank of India for ₹60.32 Cr to resolve its outstanding credit facilities. The company has already deposited an upfront amount of ₹6.03 Cr (10%) and is required to pay the balance within 90 days. This is a critical survival event for the company, which has a negative net worth of -₹89 Cr and total debt of ₹92 Cr. Upon full payment, all legal proceedings, including SARFAESI and NCLT cases, will be unconditionally withdrawn.
Confidence: HIGH
What changedThe company has moved from active litigation and insolvency threats to a formal debt settlement agreement with its primary lender.
Why it mattersThis settlement is the only viable path to prevent liquidation, given the company's negative net worth and persistent losses. It potentially clears a debt larger than the company's entire market capitalization (₹58 Cr).
OTS Amount: ₹60.32 CrUpfront Deposit: ₹6.03 CrOTS vs TTM Revenue: ~241%OTS vs Market Cap: ~104%Payment Deadline: 90 days
📅 Short termThe stock may react positively to the removal of immediate NCLT/SARFAESI threats, but the focus will quickly shift to how the company will raise the balance funds.
📈 Long termIf the settlement is completed, the company will have a significantly cleaner balance sheet, though it still faces the structural challenge of turning around its loss-making operations.
⚠ Risk flags
- Funding risk for the remaining ₹54.29 Cr balance
- Negative net worth of -₹89 Cr
- History of continuous operational losses (TTM PAT -₹9 Cr)
Key Highlights
Total OTS amount fixed at ₹60.32 Cr, which is approximately 241% of the company's TTM revenue of ₹25 Cr.
Upfront payment of ₹6.03 Cr (10% of settlement) has already been deposited with the bank.
Balance payment must be completed within a 90-day window from the date of acceptance (August 13, 2026).
Successful settlement will lead to the withdrawal of all existing legal proceedings, including SARFAESI and NCLT actions.
The settlement addresses a significant portion of the company's ₹92 Cr total debt.
👀 What to Watch
Monitor the company's source of funds for the remaining ₹54.29 Cr payment due within 90 days, as its current cash flow and revenue are insufficient to cover this amount without external capital or asset sales.
Supreme Power Q1 Revenue Grows 33.6% to ₹51.06 Cr; CMD Re-appointed for 3 Years
Supreme Power Equipment Limited reported a strong 33.6% YoY increase in revenue to ₹51.06 Cr for Q1 FY27. Net profit grew more modestly by 10.1% to ₹4.90 Cr, indicating some margin pressure as total expenses rose significantly. The board has secured leadership continuity by re-appointing the Chairman and Managing Director for a further three-year term. Additionally, the company has utilized ₹5.20 Cr of the ₹5.27 Cr raised through warrant subscriptions for factory development and working capital.
Confidence: HIGH
What changedThe company reported its Q1 FY27 financial performance and confirmed the extension of its top management's tenure for another three years.
Why it mattersThe strong top-line growth validates the company's expansion strategy in the transformer industry, although the slower profit growth suggests rising input or operational costs that need monitoring.
Q1 Revenue: ₹51.06 CrQ1 PAT: ₹4.90 CrRevenue Growth (YoY): 33.6%Warrant proceeds utilized: ₹5.20 CrCMD Tenure Extension: 3 Years
📅 Short termThe market is likely to view the 33% revenue growth positively, though the 10% PAT growth may temper enthusiasm regarding immediate margin expansion.
📈 Long termLeadership continuity and the utilization of funds for factory development support the company's long-term goal of more than doubling its current annual revenue.
⚠ Risk flags
- Margin compression (PAT growth significantly lagging revenue growth)
- High dependence on tender-based orders
- Resignation of a Non-Executive Director
Key Highlights
Revenue from operations increased 33.6% YoY to ₹51.06 Cr in Q1 FY27 from ₹38.23 Cr in Q1 FY26
Net profit for the quarter stood at ₹4.90 Cr, a 10.1% increase over the ₹4.45 Cr reported in the same period last year
CMD Vee Rajmohan and WTD Vishwambran Nair Pradeep Kumar re-appointed for 3 years effective August 31, 2026
Utilized ₹5.20 Cr out of ₹5.27 Cr (25% upfront warrant subscription) for factory development and working capital
Total expenses for the quarter rose to ₹45.20 Cr compared to ₹33.16 Cr in the previous year's quarter
👀 What to Watch
Monitor the conversion of the remaining 75% of convertible warrants (₹126.75 per warrant) which will provide capital for the company's ₹500-550 Cr revenue target. Investors should also watch for margin stabilization as the company scales its manufacturing capacity.
33.5% YoY Revenue Growth in Q1 FY27; Board Re-appoints MD for 3-Year Term
Supreme Power Equipment Limited reported a 33.5% YoY increase in revenue to ₹51.06 cr for Q1 FY27, compared to ₹38.23 cr in the previous year. Net profit grew more modestly by 10.1% YoY to ₹4.90 cr, indicating some margin pressure as expenses rose. The board approved the re-appointment of Mr. Vee Rajmohan as Chairman and MD for three years and confirmed the utilization of ₹5.20 cr from preferential warrant proceeds for factory development and working capital. The company remains on track with its capacity expansion goals to reach an annual revenue potential of ₹500-550 cr.
Confidence: HIGH
What changedSupreme Power reported its Q1 FY27 financial results and secured leadership continuity by re-appointing its Managing Director for another three-year term.
Why it mattersThe strong top-line growth validates the company's expansion strategy in the transformer industry, though the slower profit growth suggests rising input or operational costs that need monitoring.
Q1 FY27 Revenue: ₹51.06 crYoY Revenue Growth: 33.5%Q1 FY27 PAT: ₹4.90 crWarrant Subscription Received: ₹5.27 crQ1 Revenue vs TTM Revenue: 23.3%
📅 Short termThe stock may see positive sentiment due to robust revenue growth, though the market will weigh this against the relatively slower growth in net profit.
📈 Long termLeadership stability and the utilization of funds for factory development support the company's long-term goal of scaling revenue to ₹500-550 cr per annum.
⚠ Risk flags
- Margin compression (PAT growth lagging revenue growth)
- Tender-based revenue dependency
- Potential equity dilution from warrant conversions
Key Highlights
Revenue from operations increased 33.5% YoY to ₹51.06 cr in Q1 FY27.
Net profit for the quarter rose 10.1% YoY to ₹4.90 cr from ₹4.45 cr.
Re-appointment of MD Vee Rajmohan and WTD Vishwambran Nair for 3 years effective August 31, 2026.
Utilized ₹5.20 cr out of ₹5.27 cr received from preferential warrant subscriptions for factory development.
Annual General Meeting (AGM) scheduled for September 25, 2026.
👀 What to Watch
Investors should monitor the execution of the ₹90 cr order book and the impact of the ongoing capacity expansion on operating margins, which currently stand at 17.6% TTM.
33.6% Revenue Growth in Q1 FY27; CMD Re-appointed for 3-Year Term
Supreme Power Equipment reported a 33.6% YoY increase in revenue to ₹51.06 Cr for the quarter ended June 30, 2026. Net profit grew by 10.1% to ₹4.90 Cr, while EPS improved to ₹1.96 from ₹1.78. The board approved the re-appointment of Mr. Vee Rajmohan as Chairman and Managing Director for three years. Additionally, the company has utilized ₹5.20 Cr of the ₹5.27 Cr raised through the 25% upfront payment of convertible warrants for factory development and working capital.
Confidence: HIGH
What changedThe company reported its Q1 FY27 financial performance and secured leadership continuity by re-appointing its Managing Director and Whole Time Director.
Why it mattersThe strong revenue growth validates the company's expansion strategy in the transformer segment, while management continuity provides stability for executing the current ₹90 Cr+ order book.
Revenue Growth (YoY): 33.6%PAT Growth (YoY): 10.1%Q1 Revenue vs TTM Revenue: 23.3%Warrant Upfront Proceeds Utilized: ₹5.20 CrQuarterly EPS: ₹1.96
📅 Short termThe double-digit revenue growth and management stability are likely to be viewed positively by the market in the coming weeks.
📈 Long termThe company is structurally positioned to benefit from the power sector's shift toward renewables, provided it can manage the competitive tender-based nature of its business.
⚠ Risk flags
- 100% revenue from tender-based orders
- Intense competition in the transformer industry
- High working capital requirements
Key Highlights
Revenue from operations rose to ₹51.06 Cr in Q1 FY27 from ₹38.23 Cr in Q1 FY26.
Net profit increased to ₹4.90 Cr compared to ₹4.45 Cr in the corresponding quarter last year.
Re-appointment of CMD Vee Rajmohan and WTD Pradeep Kumar for a 3-year term effective August 31, 2026.
Utilized ₹5.20 Cr out of ₹5.27 Cr warrant proceeds (25% upfront) for factory development and working capital.
Operating expenses increased significantly, with purchase of stock-in-trade rising to ₹59.87 Cr from ₹39.27 Cr YoY.
👀 What to Watch
Monitor the execution of the capacity expansion aimed at reaching ₹500-550 Cr annual revenue and the conversion of the remaining 75% warrant value (₹126.75 per warrant) over the next 18 months.
