Announcement under Regulation 30 of SEBI (LODR) - Change in Designation
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The board, at its 29th May 2025 meeting, approved audited financials for FY25 with revenue from operations rising to Rs 334.37 lakhs (vs Rs 153.48 lakhs in FY24) and net profit of Rs 173.82 lakhs (vs Rs 67.26 lakhs), giving EPS of Rs 6.72. Statutory auditors Samir M. Shah & Associates issued an unmodified opinion. The board also redesignated Mr. Indrajeet Mitra (associated with the company since inception, 20+ years in IT) as Non-Executive Non-Independent Director and Chairperson, replacing Mr. Niraj Gemawat who continues as a director. Ms. Zalak Chokshi was appointed Internal Auditor for FY 25-26, and M/s Shalini Pandey & Associates was appointed Secretarial Auditor for five years (FY 25-26 to FY 29-30), subject to shareholder approval. The company confirmed there is no deviation in the use of Rs 6.39 crore raised via its May 2024 IPO, though only Rs 186.01 lakhs of the Rs 639.47 lakhs allocated has been utilized so far.
Strong earnings growth roughly doubled year-on-year on a higher base, but IPO fund utilization is slow with about 71% yet to be deployed across stated objects, which investors may watch for execution updates. The board reshuffle is an internal designation swap with no change in board composition, and the new auditor appointments are routine.