Outcome of Board Meeting held on 11th August, 2025
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The board approved unaudited Q1 FY26 results (quarter ended 30 June 2025). Total income from operations jumped to Rs 2,228.43 lakhs from Rs 438.19 lakhs in Q1 FY25, a roughly 5x year-on-year jump. Profit after tax rose to Rs 48.22 lakhs (EPS Rs 4.82) versus Rs 15.93 lakhs (EPS Rs 1.59) a year ago. However, operating expenses and financial costs scaled up sharply — financial cost alone was Rs 44.46 lakhs versus nil in Q1 FY25 — keeping the profit before tax growth modest in absolute terms. Mr. Ankit Gattani was appointed CFO, and three new directors (including two independents) were added. Three directors resigned — one non-executive non-independent (personal reasons) and two independent directors (one citing health issues, the other personal commitments). M/s. Jogi Dipak & Co. was appointed secretarial auditor for FY25-FY29, and board committees were reconstituted.
The dramatic top-line growth signals a major business ramp-up, possibly driven by the shift in operations from finance to logistics/trading, though heavy financial costs (likely from the earlier Rs 217.27 lakh warrant issuance) are eating into margins. Shareholders should watch whether the revenue surge is sustainable and whether margins improve as scale builds. The simultaneous exit of two independent directors and addition of new ones reflects a significant board reshuffle that investors may want to track.