Change in Directors.
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String Metaverse Limited reported strong consolidated Q1 FY26 results with revenue from operations of ₹19,886.11 lakhs, up nearly 4x from ₹5,001.51 lakhs in Q1 FY25. Net profit surged to ₹1,829.75 lakhs (vs ₹538.12 lakhs), with EPS of ₹1.60. The Gaming segment contributed ₹17,519.58 lakhs while a new HFT (High-Frequency Trading) segment added ₹2,366.53 lakhs. On the board front, Independent Director Mrs. Naga Anusha Vegi resigned, and Mr. Hemant Prabhudas Vastani (former CFO of MCX) was appointed as an Independent Director for 5 years. Mr. Raghavendra Hunasgi, a globally recognized marketing leader and co-founder of Web3 neo-bank Zeebu, was appointed as CMO and CEO – Global Operations. The board also approved a new ESOP 2025 scheme covering 25 lakh shares, ratified the 2023 ESOP covering 99 lakh shares, re-appointed the internal auditor, and fixed September 26, 2025 as the date for the 31st AGM.
Strong revenue and profit growth, the addition of the HFT segment, and the appointment of a high-profile CEO for global operations signal aggressive expansion into Web3, AI, and fintech. Shareholders should watch for shareholder approval of new ESOPs and material related-party transactions at the upcoming AGM, which could have a mild dilution effect.