Span Divergent Limited - Revised Outcome of Board Meeting - November 10, 2025
Awaiting price reaction for this filing.
Span Divergent's board approved unaudited Q2/H1 FY26 results, showing standalone profit after tax of Rs. 53.69 lakhs (H1) on total income of Rs. 143.38 lakhs, but a consolidated loss of Rs. 35.78 lakhs on revenue of Rs. 965.47 lakhs, with consolidated net worth deep in the red at negative Rs. 919.92 lakhs. Two directors stepped down: Independent Director Mr. Nirav Jogani cited time constraints, while Non-Executive Director Dr. Pradipkumar Desai (father of MD Mr. Veeral Desai) cited advancing age and was given an honorary Chairman Emeritus role. Mr. Dharmesh Desai, CMD of Meera Industries, was appointed as new Independent Director for five years. The board also cleared the sale of its 99% stake in inoperative subsidiary Span Diagnostics LLP to promoter-group buyers for just Rs. 99,000 and authorised exploring fund-raising options including an FPO or preferential allotment, though no final structure or size has been decided.
Consolidated losses and a deeply negative net worth highlight stress at the group level, and any future fund-raising could dilute existing shareholders depending on the chosen route. The board reshuffle and revival of Aranya Agri Biotech LLP signal a restructuring push, but investors should watch for concrete details on the capital raise.