Board approves Q1 results, re-appoints MD Sunil Kumar Malik for 3 years

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AI summary

Board approved Q1 FY27 results: standalone revenue Rs 9,317.50 lakhs (down 5.7% YoY) but net profit rose to Rs 60.99 lakhs from Rs 10.24 lakhs. Consolidated revenue grew 22% to Rs 19,106 lakhs. Sunil Kumar Malik re-appointed as MD for 3 years till Oct 2029. New statutory auditor Akshay Singhla and Associates appointed for 5 years. AGM set for Sept 26, 2026.

Likely market impact

Routine board: MD re-appointed for continuity, new auditors onboarded. Q1 profit up sharply YoY despite revenue dip. Neutral to mildly positive.