Re-appointment of Mr. Shachindra Nath (DIN: 00510618) as the Vice Chairman and Managing Director of the Company
UGROCAP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Ugro Capital reported FY2026 standalone total income of Rs. 1,84,040 lakh, up 27.6% from Rs. 1,44,185 lakh in FY2025. However, profit after tax declined to Rs. 11,337 lakh from Rs. 14,393 lakh, impacted by higher finance costs (Rs. 90,254 lakh vs Rs. 62,777 lakh) and increased impairment on financial instruments (Rs. 20,861 lakh vs Rs. 17,308 lakh). The Board approved re-appointment of Mr. Shachindra Nath as Vice Chairman and Managing Director for 5 years from June 22, 2026, subject to shareholder approval. Additionally, the company announced a change in statutory auditors from Sharp & Tannan Associates to G.P. Kapadia & Co. and authorized issuance of NCDs up to Rs. 3,000 crore. Asset quality weakened with Gross Stage 3 rising to 3.66% from 2.35% YoY. Capital adequacy remained healthy at 21.17%.
The re-appointment of the Managing Director provides continuity in leadership. However, the decline in profitability and rise in NPA levels may concern investors. The large NCD issuance program indicates aggressive borrowing plans to fund growth.