California Software Company Limited's Board of Directors, at its meeting on November 14, 2025, approved several key proposals: * Unaudited Financial Results: The board considered and approved the unaudited financial results for the quarter and half-year ended September 30, 2025. For the quarter ended September 30, 2025, the company reported revenue from operations of ₹154.49 lakhs, profit before tax of ₹30.84 lakhs, and profit for the period of ₹22.82 lakhs. Basic EPS for the quarter was ₹0.04. * Fund Raising through QIP: Approval was granted for raising funds up to ₹200 Crores through a Qualified Institutional Placement (QIP) of equity shares and/or other convertible securities. * FDI / FCCB / FCCPS Issuance: The board approved Foreign Direct Investment (FDI) and/or issuance of Foreign Currency Convertible Bonds (FCCBs) and/or Fully Compulsorily Convertible Preference Shares (FCCPS) aggregating up to USD 100 million (₹833 Crores). * Increase in Authorised Share Capital: The Authorized Share Capital is to be increased from ₹175 Crores to ₹225 Crores, with consequential amendments to the Memorandum of Association. * In-principle Approval for Acquisitions: The board gave in-principle approval to evaluate potential acquisitions of Indian and/or foreign companies aligned with the company’s strategic business expansion. * Postal Ballot: The board approved conducting a Postal Ballot to seek shareholder approvals for the aforementioned corporate actions. The statutory auditors issued a qualified opinion on both standalone and consolidated financial results, citing concerns including long outstanding trade receivables (₹2095.52 lakhs) without adequate provision, unrecovered receivables impacting liquidity, unconfirmed trade payables (₹64.00 lakhs), unavailability of age-wise details for current assets/liabilities, reconciliation pending for current tax (net) amounting to ₹380.02 lakhs, unassessed fair value/impairment of investment in subsidiary (₹311.38 lakhs), differences in opening balances, and lack of a fixed asset register.
