Reappointment of Managing Director and Appointment of Additional Director (Independent category)
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.3 pts more than Nifty Microcap 250 and 0.9 pts more than its Other Financial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Prithvi Exchange, a forex and remittance company, declared its Q1 FY26 (quarter ended June 30, 2025) results showing standalone revenue from operations at about ₹45.63 crore versus ₹109.81 crore in the same quarter last year, a sharp year-on-year decline. Standalone profit after tax fell to roughly ₹1.13 crore from ₹4.35 crore, with basic EPS at ₹1.34 versus ₹5.28 earlier. The board reappointed Mr. Pavan Kumar Kavad as Managing Director for another 5-year term (Sept 29, 2025 to Sept 28, 2030); he is the son of promoter Usha Kavad and brother of Whole-time Director Kalpesh Kumar Kavad. Ms. Rashmi Surana was appointed as an Independent Director for 5 years, and Company Secretary Ms. Nithyasree P G resigned for personal reasons effective September 13, 2025. The board also approved a new ESOP-2025 scheme with a pool of 4,34,200 stock options and fixed the 30th AGM for September 9, 2025, with September 2, 2025 as the record date for the FY25 dividend.
The steep drop in quarterly revenue and profits is a negative signal for short-term investor sentiment, while continuity in the promoter-family MD and addition of an Independent Director provide board stability. Shareholders should watch the dividend declaration at the September 9 AGM and note the upcoming leadership transition at the Company Secretary level.