Outcome of Board Meeting
Price
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Awaiting price reaction for this filing.
Stovec Industries' board approved unaudited financial results for Q1 FY26 (quarter ended June 30, 2025) along with a clean limited review report from Price Waterhouse Chartered Accountants. Revenue from operations came in at ₹567.5 million, down about 7% from ₹612 million in the same quarter last year, though up roughly 16% sequentially from the March quarter. Profit after tax fell to ₹29.6 million (vs ₹35.9 million YoY), and H1 FY26 PAT dropped to ₹55.4 million from ₹83.4 million a year ago. A notable red flag is the negative operating cash flow of ₹(122.7) million for the half-year, driven by a sharp rise in trade receivables and inventory build-up. The board also appointed Mr. Vipul Bhavsar as Interim CFO (effective May 26, 2025) pending a permanent hire, and updated the insider trading code.
Investors should note the YoY decline in both revenue and profit, plus the negative operating cash flow, which may put short-term pressure on sentiment despite the sequential improvement. The interim CFO arrangement adds a layer of leadership uncertainty until a permanent appointment is made.