1.Audited Consolidated Financial Results of the Company for the quarter and year ended 31st March 2025. 2. Appoint Mr. Omkar Mundhara as Additional Non- executive Independent Director. 3. Appoint ....
Awaiting price reaction for this filing.
Popees Cares Limited (formerly Archana Software Limited, BSE: 530565) reported audited results for FY25 showing near-zero revenue (Rs -0.01 lakh) and a narrowed net loss of Rs 42.16 lakhs vs Rs 244.65 lakhs in FY24. The Board appointed two new Independent Directors: Mr. Omkar Mundhara (effective June 15, 2025, 5-year term) and Mrs. Sumita Mishra as Independent Women Director (effective May 30, 2025, 5-year term). The Board proposed a 99% reduction in paid-up capital to set off accumulated business losses, subject to shareholder approval at the AGM on July 18, 2025. Lakshmmi Subramanian & Associates was appointed as Secretarial Auditor for 5 years. The statutory auditor issued an unmodified opinion on the FY25 results, though equity remains negative at Rs -64.61 lakhs.
Shareholders should note the proposed 99% capital reduction signals severe erosion of equity from accumulated losses, though the FY25 loss has narrowed significantly. New independent director appointments strengthen board composition but do not change the fundamental business situation, as the company continues to report negligible revenue.