Revised outcome of the Board of directors of the company at their board meeting held on today has approved inter alia: 1. un-audited Standalone financial results of the company for the ....
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Vaghani Techno-Build Limited (proposed new name: Emrock Corporation Limited) reported Q1 FY26 (quarter ended June 30, 2025) standalone revenue from operations of Rs 14.80 lakhs versus nil in Q1 FY25, with total income of Rs 19.29 lakhs. Profit after tax jumped to Rs 9.57 lakhs (EPS Rs 0.18) compared to Rs 0.64 lakhs in the year-ago quarter, driven by the Real Estate segment. The board approved changing the company's name to Emrock Corporation Limited, subject to Central Government and shareholder approval. Two independent directors, Mr. Rohan Mansukh Shah and Mr. Bharat Laljee Shah, resigned citing personal reasons, effective August 12, 2025. The board also appointed M/s Krishna Bhavsar & Associates as Secretarial Auditor for FY 2025-26 to FY 2029-30 and M/s Niyati S Loladia & Associates as Internal Auditor for FY 2024-25. The statutory auditor (Purushottam Khandelwal & Co.) issued an unmodified review report but flagged three emphasis-of-matter items: inventory valuation, 2.35 crore convertible warrants allotted on a preferential basis, and a Rs 201.84 lakh related-party loan without a formal written agreement.
Sharp profit growth and the Real Estate segment coming online are positives for shareholders, but the simultaneous exit of both independent directors and the rebrand to Emrock Corporation suggest a major business restructuring. Investors should watch for shareholder approval of the name change, conversion of the large warrant issue (which will dilute equity), and clarity on the unsecured related-party loan.