ENCLOSED HERWITH REG 30 DISCLOSURE FOR APPOINTMENT
Awaiting price reaction for this filing.
Board meeting on May 30, 2025 approved audited results for Q4 and FY ended March 31, 2025. FY25 total income surged to Rs 3,195.13 lakhs (vs Rs 38 lakhs in FY24), with net profit of Rs 846.37 lakhs compared to a loss of Rs 1.70 lakhs earlier. Q4 FY25 standalone however posted a net loss of Rs 159.49 lakhs after a Rs 300 lakh full-year tax provision was booked. CFO Mr. George Abraham Vithayathil resigned effective May 21, 2025 citing personal reasons, and Managing Director Mrs. Sumita Mishra stepped down as MD (effective May 30, 2025) to continue as Non-Executive Director — she is a relative of Director Mr. Ramesh Chandra Mishra. New Secretarial Auditor (Amarendra Mohapatra & Associates, 5-year term) and Internal Auditor (Kalpesh Khatri & Associates, 2-year term) were appointed.
Back-to-back exits of the CFO and Managing Director raise governance and continuity concerns for shareholders, even though the MD remains on the board. The auditor's report also flags an ongoing SAT appeal against a BSE order on listing of 1.35 crore preferential shares, which is still unresolved — this is a key overhang to track.