Appointment of Mr. Hitesh Pradeep Rijwani (DIN: 11030634) as Additional Director (Non- Executive, Independent Director)
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Vivanza Biosciences' board, meeting on May 12, 2025, approved several items: (1) Audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025; (2) Appointment of Mr. Hitesh Pradeep Rijwani (DIN: 11030634) as an Additional Non-Executive Independent Director for a first term of 5 years; (3) Appointment of M/s. Rahul Doshi & Co. as Internal Auditor for FY 2025-26; (4) Appointment of Mr. Chintan K. Patel as Secretarial Auditor for FY 2024-25; and (5) Reconstitution of board committees. FY25 financials show a sharp deterioration, with standalone total income plunging to Rs. 297.74 lacs (from Rs. 1,446.73 lacs in FY24) and a standalone loss of Rs. 69.51 lacs (vs profit of Rs. 31.74 lacs). Consolidated loss was Rs. 67.41 lacs (vs profit of Rs. 54.73 lacs), and consolidated other equity has slipped to negative Rs. 3.59 lacs. The new independent director is confirmed as not debarred by SEBI and not related to the promoter group.
Shareholders should note the significant revenue decline and swing to losses in FY25, with consolidated reserves now in negative territory, which is a concerning financial signal. On the positive side, the appointment of a new independent director and reconstitution of committees with independent directors chairing key panels should strengthen governance. The stock price may remain weak given the weak operating performance, though the company has appointed qualified professionals (auditors) to oversee compliance.