Based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors of the Company has approved appointment of Mr. Pulkit Chowdhary (DIN:11198535) as an Additional ....
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Globalspace Technologies' Board met on August 12, 2025 and approved the unaudited financial results for Q1 FY26 (quarter ended June 30, 2025) on both standalone and consolidated basis. Standalone revenue came in at Rs 475.87 lakhs, down from Rs 692.75 lakhs in the same quarter last year (a ~31% decline), but the company swung to a net profit of Rs 12.07 lakhs versus a Rs 262.71 lakh loss in Q1 FY25; consolidated revenue was Rs 877.86 lakhs with a net profit of Rs 15.96 lakhs. The Board recommended re-appointing Bansi Lal Shah & Co as statutory auditor for a second 2-year term (FY26–FY28) and AJP & Associates as secretarial auditor for 5 years (FY26–FY30), pending shareholder approval. It also appointed Mr. Pulkit Chowdhary as an Additional Non-executive Independent Director for a 3-year term, and fixed the 15th AGM for September 29, 2025 via video conference. Note: Revenue is net of a Rs 3.75 crore sales return adjustment related to Q4 FY24.
A return to profit is a positive signal, but the year-on-year revenue drop and auditor observations about an outdated inventory register are minor concerns. The new independent director adds financial expertise to the board; routine matters are unlikely to move the stock materially.