Hazoor Multi Projects converts the OCDs of Square Port Shipyard into equity shares!

On Wednesday, shares of Hazoor Multi Projects Ltd surged 3.23 per cent to Rs 31.36 per share from its previous closing of Rs 30.38 per share. The stock’s 52-week high is Rs 56.50 per share and its 52-week low is Rs 26.80 per share.

Hazoor Multi Projects Ltd. (HMPL) has experienced a notable surge in investor interest following the strategic conversion of its optionally convertible debentures (OCDs) into equity shares of its wholly-owned subsidiary, Square Port Shipyard Private Limited (SPSPL). In compliance with SEBI Regulations, 2015, the company announced the allotment of 2.5 crore equity shares at a face value of Rs 10 each, aggregating to a total investment value of Rs 25 crore. This move serves as a settlement of existing debenture obligations without involving any additional cash outflow, effectively strengthening the parent company's direct equity stake in the subsidiary while maintaining 100% ownership and control.

The market's positive reaction is largely attributed to the robust financial performance and growth trajectory of Square Port Shipyard. Since its incorporation in late 2022, the subsidiary—which specialises in the manufacturing and repair of various vessels—has seen its net profit jump from a nominal loss in its first year to a substantial Rs 17.98 crore for FY 2024-25. By solidifying its capital structure in a subsidiary that reported a turnover of Rs 68.95 crore and healthy profit margins, HMPL has signalled a more aggressive long-term commitment to the marine and shipping infrastructure sector. Investors view this conversion, expected to be fully completed by February 2026, as a value-unlocking manoeuvre that streamlines the group's balance sheet.

About the Company

Hazoor Multi Projects Ltd. (HMPL) is a BSE-listed, diversified infrastructure and engineering company based in Mumbai, with core operations spanning highways, civil EPC works, and shipyard services. It is now in the Oil and Gas Sector. Known for execution excellence and strategic clarity, HMPL has built a solid track record across capital-intensive, nationally significant projects. With a focus on scalable growth, recurring revenues and multi-vertical integration, HMPL is building a future-ready platform at the intersection of infrastructure, energy and industrial technology.

According to the Quarterly Results (Q2FY26), the company reported net sales of Rs 102.11 crore and a net loss of Rs 9.93 crore while in the half-yearly results (H1FY26), the company reported net sales of Rs 282.13 crore and a net profit of Rs 3.86 crore. Looking at its annual results (FY25), the company reported net sales of Rs 638 crore and a net profit of Rs 40 crore. The company has a market cap of over Rs 700 crore. From Rs 0.34 per share to Rs 31.36 per share, the stock rocketed 9,123 per cent in 5 years.

Disclaimer: The article is for informational purposes only and not investment advice.