Enclosed herewith Announcement under Regulation 30 relating to Resignation of Mr. Mukund Biwalkar from post of Independent Director
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▲ 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 met on August 13, 2025 and approved Q1 FY26 results showing strong growth: total revenue from operations rose to Rs. 4,018.40 lakhs from Rs. 2,311.15 lakhs year-on-year, and net profit jumped to Rs. 94.21 lakhs from Rs. 5.19 lakhs. The board accepted the resignation of Independent Director Mr. Mukund Biwalkar (citing other professional commitments) and appointed Mr. Ashok Thorat as a new Independent Director for a 5-year term. The board also approved a material related party transaction of up to Rs. 50 crores with Haresh Agencies, subject to shareholder approval, and cleared the 25th AGM notice for September 25, 2025.
Strong quarterly earnings growth and a routine, like-for-like Independent Director replacement are likely neutral to mildly positive for the stock. Shareholders should watch the proposed Rs. 50 crore related party transaction with Haresh Agencies, which needs their approval at the upcoming AGM.