IMP Powers Limited has informed the Exchange regarding Outcome of Board Meeting held on August 08, 2025.
Awaiting price reaction for this filing.
The board appointed Mr. Mahendra Prajapati as the new Chief Financial Officer (CFO) and Key Managerial Personnel, effective August 8, 2025. Mr. Naveen Kumar Singh was appointed as an Additional Director and Whole-Time Director for one year. The board also re-appointed the internal auditor (NPV & Associates LLP) and secretarial auditor (Ms. Shilpa Shah) for FY 2025-26. Q1 FY26 results were approved, showing standalone revenue from operations of Rs. 171.18 lakhs (up from Rs. 36.23 lakhs YoY) but a net loss of Rs. 198.70 lakhs versus a profit of Rs. 11.28 lakhs in Q1 FY25; the statutory auditor issued a qualified opinion flagging pending reconciliations of receivables, tax balances, and absence of impairment testing. The board also approved reclassification of authorized share capital to Rs. 34 crore (3.4 crore shares of Rs. 10 each), shifting the registered office from Silvassa to Ahmedabad, adoption of new Articles of Association, and proposals to increase borrowing limits and create charges on assets, all subject to shareholder approval. The company recently emerged from IBC liquidation after being sold as a going concern to a new bidder that paid Rs. 78 crore.
New management has assumed control post-IBC resolution and is staffing key positions, but weak Q1 results and a qualified auditor opinion on impairment and reconciliations suggest financial health and governance concerns remain. Shareholders should watch the AGM approvals for share capital restructuring, borrowing limit increases, and office shift, as these signal a fresh operating push under the new promoter.