Outcome of Board Meeting held today i.e. on Wednesday, 13th August, 2025.
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Maximus International's board met on August 13, 2025 and approved the unaudited Q1 FY26 results along with several corporate actions. On a standalone basis, revenue from operations fell to ₹106.34 lakhs from ₹141.54 lakhs a year ago (down ~25%), though the company swung to a net profit of ₹21.68 lakhs versus a small loss last year. On a consolidated basis, revenue from operations edged up marginally to ₹3,951.97 lakhs (from ₹3,921.54 lakhs) and net profit rose to ₹232.52 lakhs (from ₹212.59 lakhs), aided by foreign subsidiaries in lubricant and petrochemical businesses. The board also approved a proposal to convert loans into equity shares under Section 62(3), subject to shareholder approval, and appointed a new Secretarial Auditor (Kamal Lalani for 5 years) and a new Internal Auditor (M/s. Ajit Tushar & Co. for 3 years). M/s. DVG & Associates resigned as Internal Auditor citing disagreement over fees.
Standalone revenue contraction is a concern, but the turnaround to profit and steady consolidated performance are mildly positive. The mid-year internal auditor change and the loan-to-equity conversion (which could dilute existing shareholders if approved) warrant close attention from investors.