Intimation under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015
Awaiting price reaction for this filing.
Mahaveer Infoway's board, which met on 29 July 2025, approved the unaudited Q1 FY26 results (quarter ended 30 June 2025). Revenue from operations stood at Rs. 75.41 lakhs, down from Rs. 82.61 lakhs in Q1 FY25, but profit after tax improved sharply to Rs. 10.05 lakhs from Rs. 1.75 lakhs a year ago. The board appointed Mr. Sachin Jain as an Additional (Executive) Director for five years and Mr. Ashitosh Kothari as the new Chief Financial Officer. Independent Director Mr. Vijay Jain resigned citing personal and professional reasons, with no material concerns flagged. The board also approved the sale of its partnership interest in Mahaveer Skyscrapers LLP, an increase in borrowing powers up to Rs. 100 crores, and a hike in remuneration for Managing Director Ashok Kumar Jain, subject to shareholder approval. The AGM is scheduled for 29 August 2025.
Profit recovery is a positive signal despite a revenue dip, but the company has signalled a strategic pivot toward import and distribution of electronic items from its current IT & Consultancy segment. Shareholders should watch the AGM for approval of new director induction, MD remuneration hike, and the expanded Rs. 100 crore borrowing limit, which significantly increases the company's debt-raising capacity.