OUTCOME UNDER REGULATION 30 AND REGULATION 33 OF SEBI (LODR) REGULATIONS, 2015 FOR THE MEETING OF THE BOARD OF DIRECTORS OF THE COMPANY HELD TODAY ON 11 TH AUGUST 2025
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The board approved unaudited standalone results for Q1 FY26 (quarter ended June 30, 2025). Total income jumped sharply to Rs. 33.16 lakhs from Rs. 2.16 lakhs in the same quarter last year, driven by a big rise in revenue from operations. However, the company swung to a loss of Rs. 18.26 lakhs before and after tax, compared to a small profit of Rs. 0.47 lakhs in Q1 FY25, mainly due to higher employee and other expenses. The statutory auditor (DBS & Associates) issued a limited review report with an emphasis of matter noting that investments of Rs. 18.73 lakhs in shares and securities could not be verified as management did not provide demat statements. The board also approved increasing authorised share capital from Rs. 9 crore to Rs. 14 crore (adding more equity shares), adopted new MOA/AOA, and appointed Rajesh Raj Gupta & Associates LLP as the new statutory auditor for five years from the 33rd AGM, replacing DBS & Associates whose term expires at the AGM.
Mixed signal for shareholders – strong top-line growth but profitability has reversed into a loss, and the auditor's inability to verify investments is a governance red flag. On the positive side, the BSE penalty of Rs. 81.42 lakhs was partially waived, and the planned capital increase may support future growth, though it could lead to dilution later.