Orient Technologies Limited has informed the Exchange regarding Cessation of Ms Meera Rawat as Non- Executive Independent Director of the company w.e.f. May 07, 2025.
ORIENTTECH · price
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Awaiting price reaction for this filing.
Orient Technologies' board met on May 15, 2025 and approved several items. FY25 revenue grew to Rs 83,953 lakhs (up ~39% from Rs 60,289 lakhs in FY24), with profit after tax rising to Rs 5,044 lakhs (up ~22% from Rs 4,145 lakhs). Q4 revenue came in at Rs 26,068 lakhs versus Rs 18,106 lakhs in Q4 FY24. The auditors issued an unmodified opinion. The board also appointed M/s Santosh Ghag as internal auditor for FY26 and M/s Alwyn Jay & Co. as secretarial auditor for five years (FY26–FY30). Independent Director Ms. Meera Rawat resigned effective May 7, 2025, citing relocation and inability to attend board meetings in person. The board also extended the timeline for utilizing unspent IPO proceeds of Rs 8,168 lakhs (out of Rs 10,793 lakhs raised) by one year to March 31, 2026.
Strong FY25 results with healthy revenue and profit growth are positive for shareholders. The director resignation is for personal reasons and is unlikely to materially affect operations. The unutilized IPO funds and timeline extension are worth monitoring, though the company has shareholder approval for the delay.