Uma Exports Ltd will hold its 38th Annual General Meeting on September 26, 2026. The board has proposed a major preferential issue of 2.25 crore warrants at Rs 24.16 each, aiming to raise Rs 54.36 crore for working capital. The company also seeks shareholder approval to increase its authorized share capital from Rs 40 crore to Rs 57 crore. Management is proposing the re-appointment of MD Rakhesh Khemka and CFO Manmohan Saraf. Investors should note the company's recent decline in net profit and monitor how the new capital injection impacts future operational performance.
Uma Exports Ltd Announces 38th AGM and Rs 54 Crore Fundraise
Total issue size of Rs 54.36 crore via warrants; authorized capital expansion to Rs 57 crore.
Reader Takeaway: Capital infusion targets liquidity, but shareholders must monitor declining profitability and successful deployment of working capital.
What just happened
Uma Exports Ltd has scheduled its 38th Annual General Meeting for September 26, 2026. The agenda includes the approval of annual financial statements, re-appointment of key leadership, and a critical fund-raising plan. The company proposes issuing up to 2.25 crore warrants to promoters and non-promoter investors at Rs 24.16 per share, aiming to bolster the balance sheet by Rs 54.36 crore. To accommodate this, the company is seeking to expand its authorized share capital from Rs 40 crore to Rs 57 crore.
Why this matters
The funds are earmarked specifically for working capital requirements (Rs 51.64 crore) and general corporate purposes (Rs 2.72 crore). For investors, this represents a significant equity dilution event. The success of this issue is vital to stabilize the company's financial position following a contraction in recent earnings.
Financial Context
The company has reported a downward trend in profitability over the last three years. Net profit dropped from Rs 10.18 crore in FY 2023-24 to Rs 0.84 crore in FY 2025-26. Turnover also experienced a decline, falling to Rs 1,535.57 crore in the latest fiscal year from Rs 1,736.13 crore in FY 2024-25.
Management and Governance
The board has recommended the re-appointment of Managing Director Rakhesh Khemka and Executive Director & CFO Manmohan Saraf for five-year terms. Additionally, three independent directors are up for a second term, ensuring continuity in corporate oversight. M/s. Mamta Jain & Associates are proposed for reappointment as statutory auditors until 2031.
Risks to watch
Investors should closely track whether the proposed capital injection successfully reverses the current margin compression. The reliance on external capital via preferential allotment highlights current liquidity constraints that need careful navigation.