Outcome of the Board Meeting dated August 14, 2025 under Regulation 30 and 33 read with Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) ....
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The Board of Spice Islands Industries approved its unaudited standalone and consolidated financial results for Q1 FY26 (quarter ended June 30, 2025), reporting revenue from operations of Rs. 192.57 lakhs and total income of Rs. 201.20 lakhs, against Rs. 24.37 lakhs in the same quarter last year. Profit after tax jumped to Rs. 33.28 lakhs (EPS of Rs. 0.77) versus Rs. 6.13 lakhs (EPS Rs. 0.14) in Q1 FY25, marking a sharp jump in profitability. Revenue came from three new segments — EV rental, food & beverages, and hospitality, with hospitality contributing the largest share at Rs. 151.74 lakhs. The statutory auditor Giriraj Bang & Co. issued an unmodified (clean) limited review report. Separately, Independent Director Kalpesh Thakorbhai Mistry resigned effective August 14, 2025, citing increased professional commitments, and stepped down from all board committees.
Q1 FY26 shows a strong turnaround with revenue ramping up across new business segments and profit after tax growing roughly 5x year-on-year, which is positive for shareholders. However, the previous year base was very small, so sustainability of this growth in coming quarters remains to be seen. The auditor change (from Sachin Phadke & Associates to Giriraj Bang & Co.) and independent director exit are routine but worth tracking for governance continuity ahead of the September 24, 2025 AGM.