Outcome of Board Meeting held on November 13, 2025
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) Limited's Board approved unaudited financial results for Q2 and H1 FY26 (quarter and half year ended September 30, 2025), with consolidated revenue from operations at Rs. 100,639.68 lakhs and standalone revenue at Rs. 687.79 lakhs. The auditors (Shabbir & Rita Associates LLP) issued an unmodified limited review opinion but drew attention to Note 3, which explains that the Dighi Port integrated manufacturing complex project (through subsidiary Veritas Polychem) is currently funded by the company and will need further financing. The Board also appointed Mr. Sunil Sehgal as a Non-Executive Non-Independent Director, accepted resignations of Company Secretary Mr. Arun S. Agarwal and Executive Director Mr. Virat Dantwala, and appointed Mr. Amit A. Chavan as the new Company Secretary. Two Singapore-based subsidiaries (Global Comtrade PTE and Veritas Global PTE) will be wound up, the latter due to 'financial non-viability' as it has negative net worth of Rs. 38.18 lakhs.
Investors should note the auditor's emphasis on the Dighi Port manufacturing project, which remains dependent on further financing, and the closure of non-viable Singapore subsidiaries as part of business restructuring. The management reshuffle (exit of an Executive Director and Company Secretary) may be watched by the market, though compliance roles have been filled immediately.