Appointment of Independent Director
Awaiting price reaction for this filing.
Solana Biofuels' board, at its November 14, 2025 meeting, approved the appointment of Mrs. Shravya Kondapalli (DIN: 11378639), aged around 30, as a Non-Executive Independent Director for a 5-year term starting November 14, 2025, subject to shareholder approval at an upcoming EGM. The board also approved the unaudited standalone results for Q2 FY26 (ended September 30, 2025), which were reviewed by statutory auditor M/s. Darapaneni & Co. with an unqualified limited review report. Revenue from operations fell sharply to Rs 1,866.72 lakhs in Q2 FY26 from Rs 4,462.16 lakhs in Q2 FY25, while the net loss widened to Rs 277.97 lakhs from Rs 81.07 lakhs a year ago. Half-yearly losses deepened to Rs 679.06 lakhs versus Rs 121.22 lakhs in H1 FY25, and other equity has slipped further into negative territory at Rs (1,517.51) lakhs.
Weak Q2 results with revenue nearly halving YoY and losses widening could weigh on the stock, while the new Independent Director appointment is largely routine governance compliance and unlikely to move the price on its own.