We wish to inform you that the meeting of the Board of Directors of Toyam Sports Limited held on Friday, 05th September, 2025 at 04:00 P.M. and concluded on 06:15 P.M. at the Registered ....
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Board met on 5th September 2025 and approved unaudited standalone and consolidated financial results for Q1 FY26 (quarter ended 30 June 2025). Standalone revenue from operations was nil with a net loss of ₹14.44 lakhs; consolidated revenue was ₹25.13 lakhs (down sharply from ₹287.35 lakhs in Q4 FY25) with a net loss of ₹70.87 lakhs. The board appointed Shahnawaz Sayed as CFO (he was already Executive Director) and Nayan Sablok as Company Secretary & Compliance Officer, and recommended ASGR & Co. as new Statutory Auditor for shareholder approval. Mr. Rohit Purohit was regularised as Independent Director for 5 years, and the 40th AGM was scheduled for 30 September 2025 via video conferencing. The auditor issued a qualified conclusion flagging repetitive issues: no ECL-based impairment on loans/advances, possible NBFC registration non-compliance, ongoing SEBI investigation with Enforcement Directorate having frozen some shares, and non-payment of TDS and professional tax.
Several red flags for shareholders: revenue has dried up to near zero on a standalone basis, losses continue, and the company faces serious governance concerns including SEBI notices, ED share freezes, and unresolved audit qualifications. The CFO and CS appointments, along with a new statutory auditor, suggest management is trying to strengthen controls, but investors should watch the 30 September AGM closely for clarity on SEBI matters and the company's financial position.