Praxis Home Retail Ltd

Parties

• Lender: Matrix Park Private Limited; Borrower: Praxis Home Retail Limited.

Purpose

• To avail unsecured inter‑corporate loan for working capital and general corporate purposes.

Key terms

• Loan cap: Rs 2.50 crore, availed in one or more tranches by 31 Mar 2027.
• Interest rate: 13% per annum; tenure six months with possible extension.
• Security: Unsecured loan; no collateral.
• Date of execution: 29 September 2026.
• Total outstanding loan: Rs 2.50 crore.

Related party status

• Related party status: Not Applicable.

Impact

• Borrowings increase by Rs 2.50 crore; no security.
• Tenure: six months; extension by mutual agreement.
• No related party terms.

Regulatory / disclosures

• Regulatory approvals: Not Applicable.

Amendment / termination

• Amendment/termination: Not Applicable.

Parties

• Borrower: Praxis Home Retail Limited.
• Lender: Matrix Park Private Limited.

Purpose & amount

• Unsecured inter‑corporate loan for working capital and corporate purposes.
• Loan size up to Rs 3.50 crore in one or more tranches by 31-Mar-2027.

Key terms

• Interest rate: 13% per annum.
• Tenure: six months, extendable by mutual written agreement.
• Total outstanding loan: Rs 3.50 crore.
• Date of execution: 25-Sep-2026.

Related party status

• Not a related party; no related party transaction.

Impact

• No change in control.
• Augments working capital liquidity.

Regulatory / disclosures

• No specific approvals disclosed.

Amendment / termination

• Not applicable.

Independent Director Appointments

• Appointed Rahul Gambhir as Independent Director per NRC recommendation; five-year term 13 Jun 2026–12 Jun 2031.
• Appointed Chetranda Somanna Muddaiah as Independent Director per NRC recommendation; five-year term 13 Jun 2026–12 Jun 2031.
• Appointed Mahesh Meenakshisundaram as Independent Director per NRC recommendation; five-year term 3 Jul 2026–2 Jul 2031.
• All appointees are not related to existing directors.
• Not debarred by SEBI or any authority.

AGM Details

• Date/time: 25 Sep 2026, 11:33 IST; mode: VC/OAVM.
• Record date: 18 Sep 2026.
• Meeting duration: 11:33–12:30 IST.
• Quorum met; 50 members attended.

Key Resolutions

• Ordinary: Adopt Audited Standalone Financial Statements for FY 2025-26.
• Ordinary: Re-appoint Lynette Monteiro as Director on rotation.
• Special: Appoint Rahul Gambhir as Independent Director.
• Special: Appoint Chetranda Somanna Muddaiah as Independent Director.
• Special: Appoint Mahesh Meenakshisundaram as Independent Director.
• Special: Amend Praxis Employee Stock Option Plan – 2024.

Voting Results

• All resolutions passed with requisite majority.
• No material opposition; votes reflected strong approval.

Dividend

• No dividend proposed or declared at this AGM.

Director Changes

• Re-appointment: Lynette Monteiro as Director.
• Independent directors appointed: Rahul Gambhir.
• Independent director appointed: Chetranda Somanna Muddaiah.
• Independent director appointed: Mahesh Meenakshisundaram.

Auditor Appointments

• No changes to statutory, secretarial, or cost auditors.

Material Related Party Transactions

• No material RPTs approved.

Other Material Approvals

• Amendment to Employee Stock Option Plan 2024 approved.

Overview

• Investor presentation for Q1 FY27, quarter ended June 30, 2026.
• Focus on Praxis Home Retail's transition to a solutions-led home retailer.

Financials

• Revenue from operations: ₹2,660 lakh in Q1 FY27.
• Total income: ₹2,793 lakh; QoQ down 5% due to one-time settlements.
• EBITDA: ₹-69 lakh; margin -3%.
• Gross margin: 43.2%, down 250 bps YoY.

Strategy & Leadership

• LFL revenue improving; refreshed merchandise driving growth.
• EBITDA near breakeven; cost discipline to sustain growth.
• Leadership team in place; ESOP aligned to turnaround.

Praxis Home Retail Limited – Trading Window closed from Oct 01, 2026; opens 48 hours after unaudited results for quarter and half-year ended Sept 30, 2026

Filing Status

• Machine-readable financial results uploaded; Annexure I enclosed.

XBRL Corrections

• Revised XBRL file filed; equity share capital and EPS corrected.

Going Concern

• Cash loss of 894.52 lakhs; net worth negative; insolvency notice; going concern maintained.

Quarterly Highlights

• Revenue from operations: 2,660.07 lakhs; total income: 2,792.57 lakhs.

Key Profit Metrics

• Net loss 1,106.49 lakhs; Basic EPS -0.60.

Capital / Share Details

• Paid-up equity share capital: 9,290.61 lakhs; face value ₹5 per share.

Financials and material risks

• Quarter ended 30 June 2026 unaudited results approved by Board on 07 Aug 2026.
• Cash loss ₹894.52 lakhs and negative net worth as of 30 Jun 2026.
• Current liabilities exceeded current assets by ₹6,910.97 lakhs; going concern note attached.
• Independent auditor notes material uncertainty about ability to continue as going concern.
• Exceptional item of ₹10,100 lakhs in the quarter; contributes to elevated loss.
• Promoter reclassification from Promoter to Public; stock-exchange approvals pending.
• ESOP allotment of 500,000 equity shares on 07 Apr 2026.
• Revenue from operations ₹2,660.07 lakhs; total income ₹2,792.57 lakhs in quarter.

Rights issue and governance

• Board approved rights issue of equity shares up to ₹55 crore for eligible shareholders on record date
• Total issue size ₹5,500 lakhs; face value ₹5 per share
• Committee of Directors authorised to finalize terms, number of shares, and other issuance details
• Subject to regulatory approvals under SEBI LODR, Companies Act, and related rules
• Record date for eligible shareholders to be notified subsequently