Please find enclosed herewith Outcome of Board Meeting held today i.e. August 12, 2025. Kindly take the note of the same and acknowledge.
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The Board approved unaudited financial results for Q1 FY26 (quarter ended June 30, 2025). Revenue from operations stood at Rs. 387.69 lakhs, with total income of Rs. 388.57 lakhs. The company swung to a profit after tax of Rs. 42.47 lakhs (EPS of Rs. 0.71), compared with a loss of Rs. 30.03 lakhs in Q1 FY25 and a loss of Rs. 34.92 lakhs in Q4 FY25 — a clear turnaround from a full-year FY25 loss of Rs. 158.98 lakhs. The statutory auditor was changed: M/s NVC & Associates LLP was proposed as the new auditor for 5 years from FY 2025-26, replacing predecessor M/s NGST & Associates, and issued an unmodified limited review opinion on Q1 FY26 results. The Board also approved the incorporation of two wholly owned subsidiaries — one in Nigeria and one in the UAE — and appointed Mr. Roshan R Shetty as Executive (Non-Independent) Director for 5 years. The 33rd AGM is scheduled for September 23, 2025, with the book closure period from September 17–23, 2025.
The return to profitability in Q1 FY26 is a positive signal after a loss-making FY25, though revenue dipped marginally sequentially and the absolute numbers remain small. The auditor change and new overseas subsidiaries in Nigeria and UAE indicate strategic expansion, which investors should track for execution and capital deployment risks. The board meeting was packed with consequential decisions (auditor, director, subsidiaries), so shareholders should watch for the detailed disclosures on the new auditor and overseas plans.