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USG Tech Solutions' board approved its Q1 FY26 (quarter ended June 30, 2025) standalone and consolidated unaudited financial results along with several major corporate actions. Key changes include the appointment of Mr. Aadarsh Aggarwal as Chief Financial Officer and Mr. Avani Kumar Shukla as an Additional Executive Director (the latter's details were inadvertently left out of the original outcome and have now been clarified). The board approved selling two wholly-owned subsidiaries — Nishkarsh Properties Pvt Ltd and Zeal Apartment LLP — and increasing the authorized share capital to up to Rs. 80 crore, with a potential rights issue or other capital raise of up to Rs. 50 crore. Other items include signing an agreement for a green hydrogen plant, launching a new application, appointing a new secretarial auditor for 5 years (M/s Chandan J & Associates), and scheduling the 26th AGM for September 24, 2025.
Shareholders should watch for the proposed rights issue of up to Rs. 50 crore and the increase in authorized capital, both subject to shareholder approval — these could lead to dilution. The subsidiary sales and green hydrogen foray signal a strategic pivot, while the new CFO and Executive Director bring fresh leadership.