1. Appointment of Mr. Jagannath Govale as the Chief Financial Officer and Key Managerial Personnel of the Company with effect from April 08, 2026. 2. Retirement of Mr. Atul Sadawarte, ....
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Forbes & Company Limited's board, at its meeting on January 30, 2026, approved the unaudited standalone and consolidated financial results for Q3 and nine months ended December 31, 2025. Standalone Q3 revenue from operations stood at Rs. 1,650 lakhs, down sharply from Rs. 1,813 lakhs in Q2 FY26 and Rs. 3,904 lakhs in Q3 FY25, while standalone profit after tax fell to Rs. 284 lakhs (vs Rs. 604 lakhs in Q2 FY26). On the management front, Company Secretary and Compliance Officer Pritesh Jhaveri resigned effective February 20, 2026, and Interim CFO Pavan Somani resigned effective April 7, 2026, with Jagannath Govale appointed as the new CFO and KMP effective April 8, 2026. Additionally, DGM-HR Atul Sadawarte retired from the senior management effective January 31, 2026. The Real Estate segment continues to be the major revenue contributor.
The sharp year-on-year revenue decline (nearly 58% in Q3 standalone) is a concern, though profit decline was milder. The back-to-back resignation of the Company Secretary and Interim CFO, despite an immediate replacement, may raise short-term governance questions among investors, but appears to be a planned transition rather than a distress signal.