Outcome of the Board Meeting held on 14th August, 2025
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Visagar Financial Services Ltd held a board meeting on 14th August 2025 where it approved Q1 FY26 (quarter ended 30 June 2025) unaudited financial results, reporting a net loss of Rs. 105.14 lakhs, narrower than the Rs. 257.97 lakh loss in the same quarter last year. Total income dropped sharply from Rs. 3,057.49 lakhs in Q1 FY25 to Rs. 254.87 lakhs in Q1 FY26, mainly due to a steep fall in investment income. The board appointed Mr. Vikasjeet Singh (graduated 2018, ~2 years experience in VFX Compositing) as an Additional Non-Executive, Non-Independent Director. Mr. Pushpraj Gupta resigned from the post of Company Secretary (Key Managerial Personnel) citing personal reasons, effective 14 August 2025. The board also adopted the company's insider trading code and fair disclosure code.
Loss narrowed year-on-year on lower expenses, but a sharp decline in income and ongoing losses are negative for shareholders. The simultaneous exit of the Company Secretary (a KMP) and appointment of a relatively inexperienced director may raise minor governance concerns, though no governance flags were disclosed.