Outcome of Board Meeting held on November 12, 2025
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Eco Hotels and Resorts' board approved unaudited standalone and consolidated financial results for Q2 and H1 FY26 ended September 30, 2025. Standalone revenue was ₹60.77 lakhs with a loss of ₹236.67 lakhs, widening from a loss of ₹28.40 lakhs in H1 FY25. Consolidated revenue grew to ₹134.13 lakhs (from ₹76.74 lakhs) but swung to a loss of ₹239.62 lakhs versus a profit of ₹12.80 lakhs in H1 FY25. The board accepted the resignation of statutory auditor Girish L. Shethia (appointed only on September 29, 2025) due to pre-occupation with other assignments, and proposed appointing M/s. K. M. Garg & Co. as the new statutory auditor via postal ballot. A postal ballot was also approved for appointing Vikram Kantilal Doshi as Whole-Time Director (Director - Finance) effective October 13, 2025.
Losses have widened significantly on both standalone and consolidated bases, indicating continued cash burn. The mid-year auditor change just six weeks after appointment may raise governance questions for shareholders, though no concerns were flagged by the outgoing auditor.