Board of Directors at their meeting held today i.e. May 26, 2026 have approved amendment to Memorandum of Association of the Company.
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The board approved FY26 consolidated audited results showing revenue of Rs 2,653.89 Cr (down 43% from Rs 4,612.22 Cr in FY25) due to lower fair value gains on investments. Standalone PAT surged to Rs 1,929.35 Cr vs Rs 126.36 Cr in FY25, boosted by net gain of Rs 964.45 Cr on financial instruments at fair value and a Rs 94.64 Cr bargain purchase gain. However, consolidated PAT turned negative at Rs -1,985.12 Cr vs +Rs 4,241.41 Cr, mainly due to negative OCI of Rs -2,289.13 Cr from fair value losses on equity instruments. The board also approved amendments to the Memorandum of Association, aligning the objects clause with current business operations without changing the main objects. Shareholder approval via postal ballot is being sought.
Revenue decline reflects reduced fair value gains rather than operational deterioration. Standalone profitability is strong but consolidated losses and negative OCI indicate significant mark-to-market losses on equity investments. MOA amendments are routine housekeeping with no strategic change.