Mr. Sagar Kumar Mertiya has been appointed as Additional Independent Director of the company with effect from August 07, 2025. The details of the director has been attached herewith.
Awaiting price reaction for this filing.
Alka India Limited held a board meeting on August 7, 2025, covering multiple items. The company reported zero revenue and a net loss of Rs 41.69 lakhs for Q1 FY26 (quarter ended June 30, 2025) on a standalone basis, with the auditor issuing a Disclaimer of Opinion. Mr. Sagar Kumar Mertiya (DIN: 11225507) was appointed as Additional Independent Director, also taking over as Chairman of the Audit Committee. The Audit Committee and Nomination & Remuneration Committee were reconstituted with new independent directors. PSG and Associates was appointed as Internal Auditor for five years, and J M Patel & Bros as Tax Auditor for FY25-26. The company recently emerged from an NCLT insolvency resolution process, with control handed to new promoter Mr. Jatin Patel in February 2025 and share capital restructured to 50 lakh shares.
Shareholders should note the company has zero operating revenue and is bleeding cash (Rs 41.69 lakh quarterly loss), with the auditor declining to give an opinion on internal financial controls — a serious governance red flag. However, the company has just emerged from insolvency resolution under a new promoter, so these results largely reflect a company in transition rather than steady-state operations.