Outcome of Board Meeting including Unaudited Financial Results for the quarter ended 30th June 2025 and other matters as approved by the Board
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Relic Technologies reported Q1 FY26 (quarter ended June 30, 2025) results with a stark split between standalone and consolidated performance. Standalone numbers swung to a profit of Rs 9.84 lakhs from a loss of Rs 10.54 lakhs a year ago, though revenue from operations was nil (vs Rs 40.69 lakhs in Q1 FY25) and total income came mostly from other income of Rs 22.92 lakhs. On a consolidated basis, revenue jumped sharply to Rs 145.72 lakhs (from Rs 42.88 lakhs YoY) driven by the newly acquired Truhealthy Wellness subsidiary, but the company posted a large net loss of Rs 368.32 lakhs, mainly because of a one-time exceptional goodwill impairment of Rs 232.12 lakhs related to the Truhealthy investment. The board also accepted the resignation of statutory auditor Uday Pasad & Associates effective July 26, 2025 (citing promoter change and expansion plans making the engagement unviable) and appointed D. Kothary & Co. as the new statutory auditor from July 27, 2025, subject to shareholder approval. Additionally, Anita Gupta was appointed as Company Secretary, the 34th AGM was fixed for August 29, 2025, and the company allotted 15.5 lakh equity shares at Rs 85 (Rs 10 face + Rs 75 premium) and 4.41 lakh warrants under a preferential issue.
Mixed picture for shareholders – standalone turnaround is encouraging but small in scale, while the consolidated loss and goodwill impairment flag concerns about the Truhealthy acquisition. The mid-year auditor change, although explained as a resource/viability issue rather than a dispute, is something investors typically watch closely; the new auditor will need shareholder approval within three months.