Appointment of Mr. Sachin jain as the Executive Director of the Company, Appointment of Mr. Ashitosh Kothari as CFO of the Company and Resignation of Mr. Vijay Jain as Director of the Company
Awaiting price reaction for this filing.
Mahaveer Infoway Ltd's board, at its 29 July 2025 meeting, appointed Mr. Sachin Jain as Additional Executive Director for 5 years and Mr. Ashitosh Kothari as the new CFO, both effective the same day. Mr. Vijay Jain resigned as an independent director, citing personal and professional reasons. The board also approved an increase in remuneration for Managing Director Mr. Ashok Kumar Jain, subject to shareholder approval, and signalled a strategic shift towards import and distribution of electronic items. Q1 FY26 unaudited results showed revenue of Rs. 75.41 lakhs (up from Rs. 24.74 lakhs in the previous quarter) and a profit after tax of Rs. 10.05 lakhs, swinging back from a loss of Rs. 23.51 lakhs in Q4 FY25.
The sharp swing to profit and triple-digit jump in quarterly revenue is encouraging, though the company remains very small (under Rs. 1 crore in sales). For shareholders, the simultaneous leadership changes and planned pivot into electronics distribution mark a strategic reset worth watching closely in coming quarters.