Resignation of Mr. Ramesh Chandra Pareek from the post of the Independent Director of the Company.
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Azad India Mobility Ltd held a Board Meeting on May 29, 2026, approving the standalone and consolidated audited financial results for Q4 and FY ended March 31, 2026. The company reported strong revenue growth with net sales of Rs. 6,493.51 lakhs for FY 2026 compared to Rs. 903.18 lakhs in FY 2025. Standalone net profit improved significantly to Rs. 239.30 lakhs from Rs. 7.21 lakhs year-over-year. Mrs. Sabina Khurana was appointed as CEO with immediate effect, bringing over 30 years of global leadership experience including degrees from Cambridge and Birmingham universities. Mr. Ramesh Chandra Pareek tendered his resignation as Non-Executive Independent Director citing personal and professional commitments, effective from close of business hours on May 29, 2026. The statutory auditors R. Bhargava & Associates issued an unmodified opinion on both standalone and consolidated financial results.
The appointment of an experienced external CEO may signal strategic intent to scale EV bus manufacturing operations. The resignation of an independent director creates a board vacancy that requires proper replacement to maintain governance standards. The strong financial turnaround from losses to profitability is a positive signal for investors.