Mr. Deepak Kumar has resigned from the post of Non-Executive Independent Director of the Company w.e.f 30th May, 2025.
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Sidh Automobiles Ltd informed the stock exchanges about changes on its board following a meeting held on 30th May 2025. Mr. Deepak Kumar, a Non-Executive Independent Director, resigned citing personal and unavoidable circumstances, with effect from 30th May 2025. To fill the vacancy, the board appointed Ms. Dhanashree Bhaskar Patade as a Non-Executive Independent Woman Director on the same date. The same board meeting approved the audited standalone financial results for the quarter and year ended 31st March 2025, which were given an unmodified opinion by statutory auditors Sumit Ranka & Associates. For FY25, total income rose sharply to about Rs. 332.70 lakhs from Rs. 206.38 lakhs in FY24, but total expenses also jumped to Rs. 342.70 lakhs, pushing the company into a loss before tax of about Rs. 10.00 lakhs versus a Rs. 15.14 lakh profit a year earlier. The loss after tax stood at around Rs. 12.54 lakhs, with EPS at roughly negative Rs. 0.004 per share, while net worth remained at Rs. 296.23 lakhs.
A single Independent Director exit for personal reasons is routine and is already offset by the immediate appointment of a new Independent Woman Director, so governance composition stays broadly intact. However, the swing from profit to loss in FY25, on higher expenses outpacing revenue growth, is a mild negative signal for shareholders and may weigh on the stock in the short term.