Outcome of Board Meeting held today i.e. on Wednesday, 13th August, 2025.
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The board approved the unaudited standalone and consolidated financial results for Q1 FY26 (ended 30 June 2025). On a standalone basis, total income was ₹32.29 lakhs (vs ₹35.30 lakhs in Q1 FY25) and profit after tax fell to ₹10.06 lakhs (vs ₹15.75 lakhs). On a consolidated basis, profit after tax rose to ₹242.43 lakhs (vs ₹228.34 lakhs in Q1 FY25), driven largely by the manufacturing and trading in oils segment. The board also approved a proposal to convert a loan into equity shares under Section 62(3) of the Companies Act, subject to shareholder approval. Additionally, Mr. Kamal A Lalani was appointed as Secretarial Auditor for five years (FY 2025-26 to FY 2029-30), M/s. Ajit Tushar & Co. was appointed as the new Internal Auditor for three years, and M/s. DVG & Associates resigned as Internal Auditor citing disagreement over fees.
The loan-to-equity conversion will dilute existing shareholders' holdings once approved at the upcoming AGM, while the standalone PAT decline (~36% YoY) signals weaker core NBFC performance even as the consolidated picture improved on the back of the oil trading subsidiary. The mid-year Internal Auditor change due to a fee dispute is a minor governance flag worth noting, though the statutory auditor's review report remains clean and unmodified.