Outcome of Board Meeting
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board approved unaudited financial results for Q3 FY26 (quarter ended Dec 31, 2025), reporting total revenue of Rs 24.60 lakhs, sharply down from Rs 90.93 lakhs in the same quarter last year, with a loss after tax of Rs 6.11 lakhs (EPS of Rs -0.04). For the nine months ended Dec 2025, the loss narrowed to Rs 13.40 lakhs from Rs 20.35 lakhs a year ago. Mr. Ranjan Kumar Poddar resigned as Managing Director and Mr. Devashish Poddar resigned as Non-Executive Non-Independent Director, both effective Jan 14, 2026, citing personal reasons. Mr. Naresh Kumar Magoo (DIN: 00914743) was appointed as the new Managing Director for a 5-year term starting Feb 11, 2026, subject to shareholder approval at an EGM. Ms. Chandra Lekha Poddar was appointed as Additional Director and Non-Executive Chairperson, while Mr. Shiv Poddar was appointed as Additional Director. The NRC, Audit Committee and Stakeholders Relationship Committee were also reconstituted with independent directors.
Significant leadership churn at a very small, loss-making NBFC — outgoing MD and a Poddar-family director have stepped down while new faces (including more Poddars as Chair/Director) have been inducted, suggesting a promoter-family realignment at the top. The sharp revenue decline and continued losses in Q3 FY26 weaken the near-term earnings outlook and keep the stock a high-risk bet until the new MD's strategy becomes clear.