Board approves Q1FY27 results, CFO change, subsidiary loan-to-equity swap of Rs 110.44 Cr
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Board met on Aug 10, 2026 and approved Q1FY27 results. Consolidated revenue from operations at Rs 654.19M (vs Rs 745.04M YoY), PAT at Rs 0.64M vs loss of Rs 5.72M. Standalone revenue Rs 221.32M vs Rs 281.49M, PAT Rs 25.36M vs Rs 14.62M. UAE subsidiary FZE posted loss of Rs 30.57M. Other decisions: Ashish Agarwal appointed CFO replacing Mayank Shah; Ummed Jain and Co re-appointed statutory auditor for 5 years; AGM on Sept 19, 2026; further Rs 110.44 Cr loan to FZE Dubai converted to equity; Rs 2 Cr SBLC guarantee renewed for subsidiary.
Revenue declined YoY on consolidated basis but PAT turned marginally positive. UAE subsidiary loss-making; Bagru unit operations discontinued. Mixed signals; restructuring underway.