Resignation and Appointment of CFO of the Company
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Indrayani Biotech's board, at its February 26, 2026 meeting, approved the unaudited Q3 FY26 financial results (standalone and consolidated) with an unmodified auditor opinion. The board accepted the resignation of CFO Mr. Dhinakaran Rajagopal due to personal reasons and appointed Mr. Kunisetty Venkateswara Rao, a Chartered Accountant with 30+ years of experience, as the new CFO effective February 27, 2026. Standalone Q3 revenue was Rs. 520.10 lakhs (down from Rs. 818.82 lakhs in Q3 FY25), with a small net profit of Rs. 2.70 lakhs. Consolidated results showed a net loss of Rs. 574.35 lakhs in Q3, driven by an exceptional item of Rs. 574.35 lakhs. The board also approved a Rs. 5 crore credit facility from Indus Finance and resolved to expedite its proposed partly paid-up Rights Issue, which already has BSE in-principle approval from September 2025.
The CFO change appears routine with an experienced replacement, but investors should note declining standalone revenues, a consolidated quarterly loss largely from an exceptional charge, and past SEBI compliance lapses (late filing of Q2 results and board meeting intimation) that drew BSE fines — though the company has paid the fines and states full compliance has been restored. The forthcoming Rights Issue and new Rs. 5 crore credit line could be near-term watchpoints.