Kritika Wires Limited has informed the Exchange regarding Resignation of Mr Shiv Kumar Saraff as Non- Executive Independent Director of the company w.e.f. July 30, 2025.
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Kritika Wires informed the exchange about the resignation of two Non-Executive Independent Directors — Mr. Shiv Kumar Saraff and Mr. Niraj Jindal — both effective July 30, 2025. Mr. Saraff cited personal commitments and health reasons, while Mr. Jindal cited other preoccupations and time-bound responsibilities. The board also approved Q1 FY26 unaudited results, with revenue from operations at ₹20,685.62 lakh and profit after tax at ₹137.61 lakh, down from ₹339.76 lakh in Q4 FY25. The company re-appointed Sohan Lal Jalan & Associates as Cost Auditor for FY 2025-26 and authorized opening a special current account at Kotak Mahindra Bank for London Metal Exchange transactions.
The simultaneous exit of two independent directors raises governance concerns, as the company will need to appoint new independent directors promptly to meet SEBI's board composition requirements. Q1 FY26 profits also declined sharply compared to the previous quarter, though revenue grew year-on-year.