Prabha Energy Limited has informed the Exchange about change in Management
PRABHA · price
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Awaiting price reaction for this filing.
Prabha Energy's board met on May 13, 2025 and approved audited standalone and consolidated financial results for Q4 and FY ending March 31, 2025, along with an unmodified auditor opinion from M/s Mahendra N. Shah & Co. The board re-appointed M/s Manubhai & Shah LLP as internal auditors for FY26 and M/s RPSS & Co. as secretarial auditors for a 5-year term. Mr. Narayanan Sadanandan, a former SBI Capital Markets advisor and ex-MD & CEO of SBI Pension Funds, was appointed as an Additional Non-Executive Independent Director for 5 years, subject to shareholder approval. Mr. Vishal Palkhiwala (CFO) was re-appointed as Executive Director for 3 years from August 1, 2025. The board also approved the sale of 3,50,000 equity shares (70%) in subsidiary Deep Natural Resources Limited, which will cease to be a subsidiary post-sale.
The changes are largely routine governance updates – new independent director adds banking and capital markets expertise to the board, while the subsidiary divestment will simplify the group structure and likely bring in cash. No negative governance signals; neutral to mildly positive for shareholders.