Outcome of Board Meeting
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Veritas (India) Ltd's board approved unaudited financial results for Q1 FY26 (quarter ended June 30, 2025). Consolidated revenue from operations fell to Rs 58,666 lakhs from Rs 75,552 lakhs in the same quarter last year, a drop of about 22%. Consolidated profit after tax nearly halved to Rs 2,415 lakhs (from Rs 4,807 lakhs), pushing EPS down to Rs 9.01 from Rs 17.93. On a standalone basis, the company swung to a loss of Rs 54 lakhs against a profit of Rs 68 lakhs last year, with revenue plunging 83% to Rs 1,020 lakhs. The board appointed Mrs. Bhagyashri Parag Dixit as Independent Women Director and Mr. Rakesh Bharucha (a Chartered Accountant with 30+ years of finance experience) as the new CFO. Independent Director Mr. Deepak Mane resigned citing time constraints. The 40th AGM is set for September 26, 2025.
The sharp decline in both consolidated and standalone numbers, combined with a standalone loss, signals weak operational performance in Q1 FY26 and may weigh on the stock. Leadership changes (new CFO and Independent Director) are routine but worth tracking, while the auditor's emphasis on the Dighi Port manufacturing project highlights it as a key area to watch.