Appointment of Interim CFO of the Company
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Stovec Industries' board met on August 12, 2025 and approved the unaudited financial results for Q1 and H1 FY26 (quarter ended June 30, 2025). Revenue from operations for Q1 came in at ₹567.54 million, down about 7% from ₹612.03 million in the same quarter last year. Net profit for the quarter was ₹29.58 million versus ₹35.91 million a year ago, with EPS at ₹14.17 (vs ₹17.20). For the six months, revenue fell to ₹1,058.10 million from ₹1,211.60 million, and net profit dropped to ₹55.37 million from ₹83.41 million. Price Waterhouse Chartered Accountants LLP issued an unmodified limited review report. Separately, the board appointed Mr. Vipul Bhavsar, currently Senior Manager-Finance, as Interim CFO effective May 26, 2025, to serve until a permanent CFO is formally appointed. An internal Chartered Accountant and Cost Accountant with over 18 years of experience, he has been with Stovec since 2010. The board also approved a revised insider trading code in line with latest SEBI amendments.
Weaker top-line and profit performance compared to last year may weigh on sentiment in the near term, though the company maintained profitability with healthy reserves of over ₹1,226 million in other equity. The internal elevation to Interim CFO suggests continuity at the finance function, but investors may watch for a permanent appointment in coming months.