Wherrelz IT Solutions Approves Capital Increase and Share Allotment Plan at Board Meeting
Wherrelz IT Solutions Ltd held its Board of Directors meeting on April 17, 2026. During the meeting, the Board approved the audited financial results for the half year and the year ended March 31, 2026, alongside the Auditor's Report and Certificate of unmodified opinion.The company also finalized several key corporate actions, including proposing a significant increase in its authorized share capital and detailing a plan for issuing shares on a preferential basis to non-promoter investors.
Capital Structure Expansion
The Board proposed increasing the authorized share capital of the Company, subject to the approval of the members in the Extraordinary General Meeting (EGM).The current authorized share capital stands at Rs. 50,00,000/-. The Board proposed raising this capital to Rs. 48,00,00,000/-. This increase would comprise 4,80,00,000 equity shares, each having a face value of Rs. 10/-. To reflect this proposed change, the Board also proposed consequential alteration in Clause V (Capital Clause) of the Memorandum of Association.
Preferential Allotment Details
Furthermore, the Board decided on the issuance and allotment of up to 4,67,70,300 equity shares of Rs. 10/- face value. These shares are intended for non-promoters and are part of a preferential allotment process, aimed at converting outstanding unsecured loans into shares. The shares will be issued at a price of Rs. 10/- per share.The allocation structure for the proposed shares is detailed as follows:
| Name of Proposed Investor | Maximum Equity Shares to be Allotted |
|---|---|
| Balaji Forex India Pvt Ltd | 59,24,200 |
| Blackberry Sarees Pvt Ltd | 39,24,200 |
| Comely Electrical Pvt Ltd | 64,84,200 |
| Matrix Life Care Pvt Ltd | 73,24,200 |
| Morning Vinimay Pvt Ltd | 82,24,200 |
| Tripurari Dealtrade Pvt Ltd | 54,24,200 |
| Integrated Proteins Ltd | 94,65,100 |
| Grand Total | 4,67,70,300 |
The details of the proposed allotting shareholding are presented below:
| Name of Allottees | Pre-issue Shareholding (No. of shares) | Pre-issue Shareholding (% of shareholding) | Post issue shareholding (No. of Shares) | Post issue shareholding (% of shareholding) |
|---|---|---|---|---|
| Balaji Forex India Pvt Ltd | 0 | 0.00 | 59,24,200 | 12.67 |
| Blackberry Sarees Pvt Ltd | 0 | 0.00 | 39,24,200 | 8.39 |
| Comely Electrical Pvt Ltd | 0 | 0.00 | 64,84,200 | 13.86 |
| Matrix Life Care Pvt Ltd | 0 | 0.00 | 73,24,200 | 15.66 |
| Morning Vinimay Pvt Ltd | 0 | 0.00 | 82,24,200 | 17.58 |
| Tripurari Dealtrade Pvt Ltd | 0 | 0.00 | 54,24,200 | 11.60 |
| Integrated Proteins Ltd | 0 | 0.00 | 94,65,100 | 20.24 |
General Meeting and Auditing
The Board approved the draft Notice of the Extra Ordinary General Meeting (EGM) to be held on Monday, May 18, 2026, at 11:30 am through Video Conferencing.To ensure transparency, the Board also appointed Mr. Shashank P. Doshi, Practicing Chartered Accountant, Jamnagar, as the 'Scrutinizer' for the EGM.
Financial Performance Overview
The company released audited financial results for the half year and year ended March 31, 2026. The statutory Auditor, M/s. B B Gusani & Associates, issued an Audit Report confirming an unmodified opinion on these results.Standalone Financial Result Comparison (Rs. In Lakhs)
| Particulars | 31-03-2026 | 30-09-2025 Half Year Ended | 31-03-2025 | 31-03-2026 For The Year | 31-03-2025 Ended |
|---|---|---|---|---|---|
| Revenue From Operations | 686.46 | 1,278.55 | (745.22) | 1,965.01 | 1,071.76 |
| Other Income | 0.85 | 0.06 | 0.03 | 0.92 | 0.03 |
| Total Income | 687.31 | 1,278.61 | (745.19) | 1,965.93 | 1,071.79 |
| Employee benefit expense | 1.20 | 23.18 | 7.64 | 24.38 | 12.21 |
| Finance Costs | -0.13 | -0.71 | -0.90 | - | -1.79 |
| Other Expenses | 688.18 | 1,230.06 | 166.52 | 0.85 | 1,952.11 |
| Total Expenses | 689.51 | 1,253.95 | (920.24) | 1,943.47 | 1,966.12 |
| Profit (loss) Before Tax | (2.20) | 24.66 | 22.46 | -894.33 | |
| Tax Expenses (Current Tax) | (1.22) | - | (0.39) | 0.09 | - |
| Profit/(Loss) for the Period | 22.37 | (894.36) |
Note: Figures are in Rs. Lakhs.
Cash Flow Summary (Rs. In Lakhs)
| Particulars | As on 31st March, 2026 | As on 31st March, 2025 |
|---|---|---|
| Cash flow from operating activities | 22.46 | (894.33) |
| Net cash flow from operating activities | 410.15 | 66.19 |
| Net cash flow from investing activities | 0.00 | -361.76 |
| Net cash flow from financing activities | -542.85 | -1,372.36 |
| Cash and cash equivalents at the end of the year | 30.29 | 28.22 |
Stock Price Movement
Wherrelz IT Solutions Ltd shares settled at ₹156.55 on Wednesday, falling by 4.98% at the close of the trading day. The stock remained completely flat throughout the session, locking into this single price point from open to close.Source:
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