outcome of board meeting
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Awaiting price reaction for this filing.
Accedere Ltd's board on August 11, 2025 approved unaudited standalone and consolidated results for Q1 FY26 (quarter ended June 30, 2025). Standalone revenue from operations fell to Rs 75.58 lakhs from Rs 96.96 lakhs in Q1 FY25, a decline of about 22%, but standalone profit after tax jumped to Rs 5.81 lakhs from Rs 1.11 lakhs, driven by lower employee and other expenses. Consolidated revenue also dropped to Rs 75.58 lakhs, while consolidated profit after tax swung to a positive Rs 4.63 lakhs from a loss of Rs 2.50 lakhs a year ago. The board accepted the resignation of CFO Ms. Priya Chaudhary and appointed Mr. Kunal Chaudhary as the new CFO. The board also noted that Accedere Tech Private Limited (UAE) and Accedere Tech Inc. (US) have ceased to be subsidiaries due to regulatory reasons. Notably, the outgoing CFO cited 'governance and other related concerns' raised with management in May and June 2025 as the reason for her resignation, which is a significant red flag.
Sharp profit growth on a small base and lower costs are positives, but a double-digit revenue decline and the resignation of the CFO citing governance concerns raise serious questions about management quality and disclosures. Investors should watch for any further clarification on the governance issues and related-party implications of the new CFO (son of the Managing Director) before drawing comfort.