Appointment of Mr. Dilip Jagdish Pendse (DIN: 11348152) as an Additional Independent Director on the Board of the Company
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Swadeshi Industries & Leasing Ltd held its Board meeting on May 28, 2026, approving two key items: (1) Audited standalone and consolidated financial results for Q4 and FY ended March 31, 2026, and (2) appointment of Mr. Dilip Jagdish Pendse as an Additional Independent Director with effect from the same date. Financially, standalone total income surged to Rs. 6,811.90 Lakhs (vs Rs. 1,676.35 Lakhs prior year), while standalone PAT grew to Rs. 170.36 Lakhs (vs Rs. 102.85 Lakhs). Consolidated PAT stood at Rs. 173.08 Lakhs. Equity share capital doubled to Rs. 2,312.80 Lakhs, likely from a bonus/share issue. The company also acquired Swadeshi Agrotech Industries Pvt Ltd during the year under a common control transaction, accounted per Ind AS 103 Appendix C. The auditor G C A S and Associates LLP issued an unmodified opinion on both standalone and consolidated results.
The appointment of a seasoned banking and finance professional as an Independent Director strengthens board governance, particularly given the company's expanding financial services activities. The strong financial performance and acquisition signal growth, though the significant jump in trade receivables (Rs. 2,086.69 Lakhs vs Rs. 527.67 Lakhs) warrants monitoring.