Indbank Merchant Banking Services Limited has informed the Exchange regarding Resignation of Mr Tausif Inamdar as Chief Financial Officer of the company w.e.f. July 18, 2025.
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Indbank Merchant Banking Services (a subsidiary of Indian Bank) informed the exchanges about multiple board decisions from its July 18, 2025 meeting. Mr. Tausif Inamdar resigned as Chief Financial Officer effective July 18, 2025, citing his repatriation to parent Indian Bank. The board simultaneously appointed Shri Balaji M.S as the new CFO effective July 19, 2025; he is an Indian Bank career officer (previously in the Indian Air Force) with an MBA in Finance. The company also reported weak Q1 FY26 results with profit after tax falling to Rs. 105.86 lakhs from Rs. 281.77 lakhs a year earlier (~62% drop), and total revenue from operations declining to Rs. 531.01 lakhs from Rs. 770.08 lakhs. EPS dropped to Rs. 0.26 from Rs. 0.64. The 36th AGM has been scheduled for September 18, 2025 via video conferencing.
The CFO change is a routine internal transfer since Indbank is a subsidiary of Indian Bank, so it should not materially affect operations. However, the sharp year-on-year decline in Q1 profits and revenue is a concern and may draw investor attention.