Orient Technologies Limited has informed the Exchange regarding Resignation of Mr. Shrihari Kishor Bhat as Chief Executive Officer of the company w.e.f. April 29, 2026.
ORIENTTECH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 9.2 pts less than Nifty Microcap 250 and 8.5 pts less than its IT Enabled Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Orient Technologies' board met on February 13, 2026 and approved several items in one filing. CEO Mr. Shrihari Kishor Bhat resigned effective April 29, 2026, after serving as CEO since January 1, 2025; he cited a 90-day notice period and offered a smooth transition. The company swung to a standalone loss of ₹1,495.60 lakhs in Q3 FY26 versus a profit of ₹1,417.37 lakhs in Q2 FY26, with revenue dropping sharply to ₹19,823.03 lakhs from ₹27,280.46 lakhs quarter-on-quarter. The loss was largely driven by a ₹1,923.53 lakh exceptional charge covering the new Labour Code impact (gratuity and leave reclassification) and a write-off from the loss of a major cloud-services customer. On a positive note, the company acquired 100% of Red Hut Innovation Technology and 46% stakes each in AIT Internet Services and Athena IT & Telecom for a combined ₹751.67 lakhs, and is seeking shareholder approval via postal ballot to extend IPO proceeds utilization to March 31, 2027 (only ₹4,669 lakhs of the ₹10,792.60 lakh net IPO proceeds have been deployed so far).
The CEO departure after just over a year, combined with a steep sequential revenue fall and a quarterly loss, may weigh on the stock in the near term; investors will look for a successor announcement and evidence of a revenue rebound. The acquisitions and IPO extension are operational housekeeping and not immediately price-moving.