Appointment of Mrs. Maggie Thomas Kajjer as an Additional Non- Executive Independent Director in the Board Meeting held on 29/05/2025
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E-Land Apparel's board, at its May 29, 2025 meeting, approved audited results showing a strong turnaround in FY25. Revenue from operations rose about 39% to ₹30,039.21 lakhs (from ₹21,539.37 lakhs in FY24), and the company swung to a profit after tax of ₹1,366.39 lakhs versus a loss of ₹3,982.51 lakhs a year earlier. Q4 FY25 profit stood at ₹700.81 lakhs with EPS of ₹1.46 for the quarter and ₹2.85 for the full year. The board also appointed DSM and Associates as Secretarial Auditor for 5 years and MK Bagrecha & Associates as Internal Auditor for FY 2025-26. Mrs. Maggie Thomas Kajjer was inducted as an Additional Non-Executive Independent Director for a 5-year term, subject to shareholder approval. The auditor issued an unmodified opinion, though noted the company has accumulated losses exceeding paid-up capital and other equity, and is dependent on holding company E-Land Asia Holdings (Singapore) for continued financial support.
The return to profitability and revenue growth are positive signs, but the deeply negative other equity (₹53,276.93 lakhs) and reliance on the Korean parent for going-concern support remain key risks. The independent director and auditor appointments are routine governance housekeeping and unlikely to move the stock on their own.