Silly Monks Entertainment Limited has informed the Exchange regarding Appointment of Mr. Itikapiti Madhusudana Reddy as Chief Financial Officer of the company w.e.f. May 30, 2026.
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The company announced the appointment of Mr. Itikapati Madhusudana Reddy as Chief Financial Officer effective May 30, 2026. Simultaneously, Ms. Mallireddy Sushma Sree resigned as Company Secretary and Compliance Officer (citing personal reasons), and Ms. Naneru Greeshma Sandhya was appointed to replace her. The Board also approved audited financial results showing significant deterioration: standalone net loss of ₹195.50L for FY2026 versus profit of ₹20.14L in FY2025, while consolidated revenue declined from ₹2,624.31L to ₹2,307.82L. The company proposed changing its name from 'Silly Monks Entertainment Limited' to 'Cresto Tech Limited' and altering its Objects clause, to be voted on at an EGM on June 29, 2026. An equity raise of ₹660.91L was completed during the year, boosting cash reserves to ₹437.53L (standalone).
The dual KMP changes (resignation and new appointments) represent a significant governance transition. The proposed name change to 'Cresto Tech' signals a strategic pivot beyond entertainment, though the substantial losses and revenue decline raise concerns about the transformation's viability. The equity raise provides runway but doesn't address operational losses.