Announcement under Regulation 30 (LODR) - Change in Directorate
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The board of Artificial Electronics Intelligent Material Ltd (formerly Datasoft Application Software India Ltd) met on 8 August 2025 and approved several changes. Two non-executive independent directors, Mr. Achal Kapoor and Ms. Preeti Garg, resigned citing personal reasons, with the company confirming no other material reasons. The company secretary and compliance officer, Ms. Pratibha Dhanuka, also resigned on the same day, and was replaced by Mrs. Chayonika Paloi. The internal auditor M/s. J D S Associates was replaced by M/s. DAT and Associates for FY 2025-26. The board also approved strong Q1 FY26 results, with revenue from operations jumping to Rs. 675 lakh from Rs. 108 lakh in the year-ago quarter, a more than 6x increase, and net profit of Rs. 60.51 lakh (EPS of Rs. 0.36).
The simultaneous exit of two independent directors and the company secretary raises governance and continuity questions, even though the company states these are personal and there are no material undisclosed reasons. Strong topline growth in Q1 FY26 is a positive signal, but the heavy churn at the board and key managerial level may concern shareholders about stability.