Clarification Letter regarding appointment of Mrs. Supriya Shete, Additional Non-Executive Independent Director.
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Virat Industries has sent a clarification to BSE correcting a typographical error in its earlier board meeting outcome from 13th August 2025. Smt. Supriya Anil Shete (DIN: 08719731) was appointed as an Additional Non-Executive Independent Director, not Non-Independent as originally stated. Her term runs from 13th August 2025 to 12th August 2030, subject to shareholder approval. The same board meeting also approved Q1 FY26 results (revenue of Rs. 860.60 lakh vs Rs. 773.35 lakh in Q1 FY25; profit after tax of Rs. 86.48 lakh vs Rs. 19.46 lakh) and a preferential allotment of 95,99,999 equity shares at Rs. 104 each, nearly tripling the paid-up capital from Rs. 4.92 crore to Rs. 14.52 crore. Statutory auditors B.K. Khare & Co. issued an unmodified opinion on the results. The newly appointed director is not related to any existing board member.
The correction itself has no material impact — it only fixes a classification typo. However, the underlying moves are significant: the company added an independent woman director (improving board composition) and raised fresh equity at a premium, which will dilute existing shareholders but strengthen the balance sheet.