Re-appointment of Mr. Ravikant Sethia (DIN 02769848) as the Whole Time Director of the Company with effect from August 17th 2025 subject to approval of shareholders in the ensuing Annual ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Balurghat Technologies reported Q1 FY26 results with revenue rising sharply to Rs. 2,792.42 lakhs (up from Rs. 1,691.28 lakhs a year ago), but the company swung to a net loss of Rs. 66.83 lakhs versus a profit of Rs. 41.63 lakhs in the same quarter last year, as total expenses jumped to Rs. 2,868 lakhs. The Board also approved the re-appointment of Mr. Ravikant Sethia as Whole-Time Director effective August 17, 2025, subject to shareholder approval. Remuneration of key leadership was revised upward from October 1, 2025: Mr. Arun Kumar Sethia (Whole-Time Director) and Mr. Pawan Kumar Sethia (Managing Director) from Rs. 4 lakh to Rs. 5 lakh per month; Mr. Ravikant Sethia from Rs. 3 lakh to Rs. 4 lakh; and COO Mr. Apurv Sethia and CFO Mr. Ankit Sethia from Rs. 2.5 lakh to Rs. 3 lakh per month. The 31st AGM is scheduled for September 10, 2025. The document also flags ongoing litigation including a Rs. 57.83 crore corporate guarantee matter with IDBI Bank pending before the Karnataka High Court.
Despite strong revenue growth, the unexpected quarterly loss is a red flag for margins and cost control, and may weigh on the stock. The continued re-appointment and pay hikes for the Sethia family — who occupy MD, WTD, COO, and CFO roles — keep the company firmly under family control but raise governance questions for minority shareholders voting at the upcoming AGM.