Kamat Hotels (I) Limited has informed the Exchange regarding Change in Director(s) of the company.
KAMATHOTEL · price
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Awaiting price reaction for this filing.
Kamat Hotels reported a strong Q1 FY26 with standalone revenue from operations rising to ₹5,615.98 lakhs (vs ₹5,031.08 lakhs in Q1 FY25) and net profit jumping to ₹849.82 lakhs (vs ₹40.55 lakhs). EPS for the quarter was ₹2.80 versus ₹0.15 last year. The board approved the reappointment of Mr. Vilas Koranne as an independent director for a second 5-year term starting June 29, 2026, and approved remuneration for Executive Chairman Dr. Vithal V. Kamat and Executive Director Mr. Vishal V. Kamat for the remaining periods of their terms. The board also appointed DM & Associates as Secretarial Auditors for 5 years and reappointed Kirtane & Pandit LLP as Internal Auditor for FY26. ILEX Developers & Resorts was reclassified from a joint venture to a subsidiary from April 1, 2025, expanding the consolidation scope. The 38th AGM is scheduled for September 26, 2025.
Strong quarterly earnings growth signals improving hospitality business performance, though ongoing ED investigation, lease uncertainty at Lotus Resort Konark, and going-concern issues at subsidiaries OHPPL and MPPL remain key risk overhangs for shareholders. The director changes are routine reappointments and do not alter board control.