Board of Directors of the Company at its Meeting held today i.e., Thursday, August 14, 2025 have inter-alia, considered and approved 1. Unaudited Financial Results for the quarter ended ....
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The board approved unaudited results for Q1 FY26 (quarter ended June 30, 2025). Total revenue rose to Rs. 237.45 lakhs from Rs. 133.28 lakhs a year earlier, but profit after tax fell sharply to Rs. 14.99 lakhs versus Rs. 61.39 lakhs in Q1 FY25, with EPS at Rs. 0.01. During the quarter, 2.72 crore convertible warrants were converted into equity shares, lifting share capital by Rs. 272 lakhs and securities premium by Rs. 900.32 lakhs. Statutory auditor M/s. RSRV & Associates resigned mid-term citing pre-occupation in other assignments, and M/s. ARCK & Co. has been appointed to fill the casual vacancy, pending shareholder approval. Mr. Raghunath Narasimhachar Patel, a retired RBI Chief General Manager with 36 years of experience, was appointed as a Non-Executive Independent Director for five years. The 44th AGM is set for September 25, 2025 via video conferencing, and the registered office is shifting from Malad West to Goregaon East.
Investors should note the mid-term auditor change – while the stated reason is non-controversial, sudden auditor exits warrant scrutiny. The sharp YoY drop in profit despite revenue growth and ongoing equity dilution from warrant conversions may put short-term pressure on per-share metrics.