The Investment Trust Of India Limited has informed the Exchange regarding Resignation of AlokKumar as Independent of the company w.e.f. May 09, 2025.
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On May 9, 2025, The Investment Trust of India announced the resignation of Independent Director Mr. Alok Kumar Misra (DIN: 00163959) citing pre-occupation and personal commitments, effective the same day. The board approved the appointment of Mr. Sidharth Rath and Mr. Banavar Anantharamaiah Prabhakar as Additional Independent Directors in his place, with shareholder approval to be sought via postal ballot. Alongside, the company posted its FY25 audited results: consolidated total income grew to ₹36,499 lakhs from ₹30,567 lakhs in FY24, while net profit after tax more than doubled to ₹4,592 lakhs from ₹1,997 lakhs. Basic EPS climbed to ₹8.14 from ₹3.56. The board also cleared the transfer of its fund and asset management business to ITI Asset Management Limited, its wholly owned subsidiary, continuing an earlier February 2025 plan.
Strong FY25 performance, with PAT more than doubling and EPS over 2x, is a positive signal for shareholders. The director exit looks orderly since two replacements are being inducted, easing any governance worries. Investors should track the postal ballot outcome and the progress of the asset management business handoff to the subsidiary.