Appointment of Mr. Kiran Vasantrao Kurundkar (DIN: 02332568) as Additional Independent Director
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Hazoor Multi Projects' board approved unaudited standalone and consolidated financial results for Q3 and 9 months ended December 31, 2025. On a standalone basis, 9M FY26 revenue grew to ₹25,920 lakhs (up from ₹16,740 lakhs a year ago) and profit after tax rose to ₹1,243 lakhs (vs ₹786 lakhs). However, on a consolidated basis, 9M FY26 profit fell sharply to ₹1,031 lakhs from ₹2,319 lakhs last year, and basic EPS dropped to ₹0.36 from ₹1.17. The company also disclosed the loss of control over subsidiary Vyom Hydrocarbon Private Limited (and its step-down subsidiary Quippo Oil and Gas Infrastructure) after conversion of compulsorily convertible debentures diluted its stake below majority level. Additionally, Mr. Kiran Vasantrao Kurundkar (retired IAS officer) was appointed as Additional Independent Director for 5 years, and Mrs. Anushree Tekriwal joined as Company Secretary and Compliance Officer.
Mixed signals for shareholders: standalone business is growing, but the consolidated bottom line has weakened sharply, partly due to the deconsolidation of VHPL. The board refresh with a new Independent Director and Company Secretary strengthens governance, but the loss of a subsidiary could raise questions about the long-term group structure and revenue base.