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📋 Filing Types Available on ForgeUp Filings Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.
Financial Results Orders Dividend Buyback Merger / Acquisition Board Meeting Outcome Fundraise (QIP / Rights / FPO) Regulatory / Court Order Credit Rating Change Promoter Pledge Update Management Change Joint Venture / MOU Delisting Bonus Shares Stock Split
Data sourced from BSE India corporate announcements. More categories will be added over time.
Maxgrow India Ltd

Maxgrow India Q2 FY27 Net Profit Rs. 0.22 million; Board Approves Loan Conversion

RESULTS ◆ Monitor Closely MEDIUM RISK
📅 Filed on BSE: 13 Nov 2026, 10:11 PM IST  ·  BSE ID: f44e06a8-f047-4230-a773-6461d2facdaf
View Original BSE Filing (PDF)
💡
In Simple Terms
Maxgrow India reported a small profit this quarter and plans to convert loans into new shares and increase its share capital.
🤖 AI Summary
  • Maxgrow India reported a net profit of Rs. 0.22 million for the quarter ended September 30, 2026 (Q2 FY27).
  • Total revenue from operations for Q2 FY27 stood at Rs. 171.60 million.
  • Board approved converting unsecured loans totaling approximately Rs. 17,95,00,157.24 into 9,44,875 equity shares at Rs. 179.50 per share.
  • Authorized Share Capital is proposed to increase from Rs. 20,00,00,000/- to Rs. 23,00,00,000/-, subject to shareholder approval.
  • The company carries an investment of Rs. 275.10 lakh in Optionally Convertible Debentures of Ultravolt Power Private Limited at cost, without independent valuation as of September 30, 2026.
🔢 Key Numbers - exact figures from BSE filing, not rounded
Net Profit (Quarter ended 30 September 2026)
Rs. 0.22 million
Not comparable — limited prior period data.
Revenue from Operations (Quarter ended 30 September 2026)
Rs. 171.60 million
Not comparable — limited prior period data.
Total Comprehensive Income (Quarter ended 30 September 2026)
Rs. (24.52) million
Not comparable — limited prior period data.
Equity Shares to be Issued
9,44,875 Equity Shares
Issue Price per Equity Share
Rs. 179.50/- per share
Old Authorized Share Capital
Rs. 20,00,00,000/-
New Authorized Share Capital
Rs. 23,00,00,000/-
Investment in Ultravolt Power Private Limited OCDs
Rs. 275.10 lakh
🏢 How This Affects the Company
💰
Financial Impact
The conversion of unsecured loans into equity shares will reduce the company's debt burden and increase its equity base, impacting its debt-to-equity ratio. The proposed increase in authorized share capital provides capacity for future equity issuances.
⚠️
Risk Impact
The auditor highlighted that no independent valuation of the Rs. 275.10 lakh investment in Ultravolt Power Private Limited OCDs has been carried out, introducing a valuation uncertainty regarding this asset.
👥 What This Means For Shareholders
✅
Action Required
Shareholders will need to approve the conversion of loans into equity shares and the increase in authorized share capital at the Extra-Ordinary General Meeting (EGM).
👤
Who Is Affected
Existing shareholders will experience dilution as 9,44,875 new equity shares of face value Rs. 5/- each will be issued to three lenders, Evoltso Power Private Limited, Techtank Innovations Private Limited, and Montex Trading Private Limited. The increase in authorized capital facilitates future equity issuances, potentially leading to further dilution.
🔍
Management Signal
The Board's decision to convert loans into equity and increase authorized share capital signals a strategic focus on strengthening the company's equity base and reducing debt, alongside enabling future funding opportunities.

For information only. Not investment advice. ForgeUp is not SEBI-registered.

👁 Watch List - track these upcoming events
Extra-Ordinary General Meeting (EGM) outcome for loan conversion and capital increase approvals.
Q3 FY27 financial results for sustained profitability and revenue trends.
Disclosure on independent valuation of investment in Ultravolt Power Private Limited.
MEDIUM RISK Auditor noted no independent valuation of a significant investment, creating uncertainty in asset value.
💡 Investor Takeaway
Maxgrow India reported Q2 FY27 net profit of Rs. 0.22 million on total revenue of Rs. 171.60 million. The Board approved converting unsecured loans of approximately Rs. 17,95,00,157.24 into equity at Rs. 179.50 per share. An increase in authorized share capital from Rs. 20,00,00,000/- to Rs. 23,00,00,000/- is proposed, pending shareholder consent.
⚖️ Strengths & Concerns

✅ Positives

  • Net profit of Rs. 0.22 million for Q2 FY27, indicating profitability for the quarter.
  • Conversion of Rs. 17,95,00,157.24 of unsecured loans into equity reduces financial liabilities and strengthens the balance sheet.

⚠️ Concerns

  • Net profit for the six months ended September 30, 2026, was a loss of Rs. 0.94 million, showing a cumulative loss for the first half of FY27.
  • Auditor noted that no independent valuation has been performed for the Rs. 275.10 lakh investment in Ultravolt Power Private Limited OCDs as of September 30, 2026.
📅 Company Track Record
Maxgrow India's previous filing on April 3, 2026, approved Q3 FY26 results with a clean audit opinion and strengthened governance through new Company Secretary and Secretarial Auditor appointments. The current filing shows a shift towards balance sheet restructuring via loan-to-equity conversion.

Based on publicly available historical data. For context only.

❓ Frequently Asked Questions
What was Maxgrow India's net profit for the quarter ended September 30, 2026?
Maxgrow India reported a net profit of Rs. 0.22 million for the quarter ended September 30, 2026 (Q2 FY27).
What is Maxgrow India proposing regarding loan conversion?
Maxgrow India's Board approved converting unsecured loans of approximately Rs. 17,95,00,157.24 into 9,44,875 equity shares at an issue price of Rs. 179.50 per share, subject to shareholder approval.
What is the proposed increase in Maxgrow India's Authorized Share Capital?
The company proposes to increase its Authorized Share Capital from Rs. 20,00,00,000/- to Rs. 23,00,00,000/-, divided into 4,60,00,000 equity shares of Rs. 5/- each, pending shareholder approval.
What concern did the auditor raise regarding Maxgrow India's investments?
The auditor noted that no independent valuation has been carried out for the Rs. 275.10 lakh investment in Optionally Convertible Debentures of Ultravolt Power Private Limited as of September 30, 2026.

Questions based on this BSE filing only. For information purposes.

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⚠️ For Information Only - Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.
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