LEEL Electricals Limited has informed the Exchange regarding Board meeting held on May 10, 2025.
Awaiting price reaction for this filing.
LEEL Electricals' board, meeting on May 10, 2025, accepted the resignations of Company Secretary Komal Phulwani and Executive Director & CFO Ankit Sharma, and appointed Bhoopendra Gaur as Additional Executive Director and CFO effective the same day. The board also appointed G Aakash & Associates as Secretarial Auditor for a 5-year term and Deepak Ingle as Internal Auditor, and approved new borrowings, inter-corporate loans, and investment of company funds. The board approved commencement of factory operations from May 10, 2025, with a planned investment of around Rs. 20 crore and an expected turnover of about Rs. 75 crore for FY 2025-26. The audited standalone financial results for FY ended March 31, 2025 were also approved, showing a loss of about Rs. 86.86 lakh for the year, against which the auditor flagged material concerns including the company's history of NCLT liquidation proceedings and ongoing takeover by Krishna Ventures Limited (KVL), making the results subject to final adjustments.
The simultaneous exit of the Company Secretary and CFO, combined with a new management-controlled factory restart targeting Rs. 75 crore turnover, signals a fresh operational chapter under the acquirer KVL, though the FY25 results remain weak and qualified by the auditor, so shareholders should expect continued uncertainty until the takeover and restructuring are fully completed.