Appointment of Mr. Rohit Prakash Bafana (DIN: 00590469), as an Additional Non-Executive Independent Director of the Company:
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Sanghvi Brands Ltd's Board meeting on May 21, 2026 approved two key items: (1) appointment of Mr. Rohit Prakash Bafana as an Additional Non-Executive Independent Director for a 5-year term, subject to shareholder approval, and (2) audited annual financial results for FY ended March 31, 2026. Bafana is the Managing Director of United Chem Energy Trading Pvt. Ltd. and a co-founder of FamilyCare Clinic Private Limited and Indian Naturals brand. The standalone net profit for FY2026 was Rs 9.47 million vs Rs 8.50 million in FY2025, while consolidated net profit improved to Rs 15.84 million from Rs 10.13 million. The auditor's report includes an Emphasis of Matter noting no provision was made on investments and loans to two subsidiaries despite significant accumulated losses and negative net worth, though management considers these temporary disruptions.
Appointment of an independent director strengthens board governance. The auditor's emphasis on subsidiary losses with negative net worth signals ongoing financial stress in group companies, though management views it as temporary. Consolidated profit improved year-on-year, indicating better operational recovery.