Enclosed herewith Announcement under Reg 30 relating to Appointment of Mr. Ashok Thorat as an Additional Director w.e.f. 13/08/2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Sanmit Infra's board, meeting on 13 August 2025, approved several items. Q1 FY26 standalone results show total income of Rs. 4,029.72 lakhs, up from Rs. 2,311.39 lakhs in Q1 FY25, with net profit rising to Rs. 94.21 lakhs from Rs. 5.19 lakhs (EPS Rs. 0.06). Mr. Mukund Shivaram Biwalkar resigned as Non-Executive Independent Director citing other professional commitments, and Mr. Ashok Madhavrao Thorat was appointed as a new Non-Executive Independent Director for a 5-year term. The board also approved a material related party transaction with Haresh Agencies of up to Rs. 50 crores and increased remuneration for the Managing Director and Whole-Time Directors, both pending shareholder approval. The 25th AGM is scheduled for 25 September 2025.
Strong YoY revenue and profit growth in Q1 is a positive sign for shareholders, while the ID changeover is routine. The Rs. 50 crore RPT and MD/WTD remuneration hike need shareholder approval at the upcoming AGM and should be watched closely for related-party governance.