Resignation of Mr. Ramesh Chandra Pareek from the post of the Independent Director of the Company .
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Azad India Mobility Ltd held its Board Meeting on 29th May 2026 and approved the Standalone and Consolidated Audited Financial Results for Q4 and Financial Year ended 31st March 2026. The company reported standalone net profit of Rs. 239.30 lakhs for FY26 compared to Rs. 7.21 lakhs in FY25, with total income from operations of Rs. 6,617.03 lakhs. The Board appointed Mrs. Sabina Khurana as Chief Executive Officer (KMP) effective 29th May 2026. Mrs. Khurana brings over 30 years of international leadership experience with dual Master's degrees from Cambridge and Birmingham Universities. Simultaneously, Mr. Ramesh Chandra Pareek tendered his resignation as Non-Executive Independent Director due to personal and professional commitments, effective from close of business hours on 29th May 2026. The statutory auditors R. Bhargava & Associates issued an unmodified opinion on both standalone and consolidated financial results. The company operates in EV Luxury bus manufacturing segment.
The appointment of an experienced external CEO signals new strategic direction, while the resignation of an independent director reduces board independence. Improved profitability and strong cash position (Rs. 1,631.35 lakhs standalone) provide financial stability during leadership transition.