Enclosed herewith Disclosure under Reg 30 of SEBI (LODR) Reg, 2015 for Resignation of CFO along with Resignation Letter
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Sanmit Infra Ltd's board, at its meeting on November 13, 2025, accepted the resignation of Mr. Dinesh Kanayalal Makhija as Chief Financial Officer, citing other professional engagements. In the same meeting, Mr. Kamal Kanayalal Makhija (the Managing Director's brother and an existing Whole-Time Director with 25+ years of banking and finance experience) was appointed as the new CFO, and Mr. Shlok Sanjay Makhija (son of Managing Director Mr. Sanjay Makhija, currently heading the Bitumen Division since 2018) was appointed as CEO. The board also approved unaudited Q2 FY26 results, reporting revenue from operations of Rs 706.55 lakhs (sharp drop from Rs 3,900.61 lakhs in Q1 FY26) and a net loss of Rs 116.66 lakhs for the quarter, versus a profit of Rs 94.21 lakhs in the preceding quarter. For the half-year ended September 2025, the company posted a net loss of Rs 36.54 lakhs against a loss of Rs 22.45 lakhs in the prior-year period. Operating cash flow turned sharply negative at Rs (559) lakhs for H1 FY26.
The Q2 results show a steep sequential decline in revenue and a return to losses, which could pressure the stock in the near term. The leadership changes consolidate promoter-family control of key executive roles (CFO and CEO both held by Makhija family members), which may raise governance concerns for minority shareholders but brings in-house continuity to operations.