Re-appointment of Mr. Kirit Chimanlal Doshi as Chairman and Managing Director for further period of 3(three) years subject to approval of members in general meeting.
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Waaree Technologies' Board approved audited financial results for H2 and full year ended March 31, 2025, with the statutory auditor (R T Jain & Co LLP) issuing an unmodified opinion. Revenue from operations fell sharply to Rs 1,023.57 lakhs in FY25 from Rs 2,854.52 lakhs in FY24, though the net loss narrowed to Rs 565.00 lakhs from Rs 750.02 lakhs (EPS at Rs -5.25 vs Rs -6.97). Reserves remain negative at Rs -1,267.77 lakhs, and short-term borrowings stood at Rs 1,765.87 lakhs. The Board also approved the re-appointment of promoter Mr. Kirit Chimanlal Doshi as Chairman and Managing Director for a further 3 years effective May 14, 2025, subject to shareholder approval. Mr. Kirit Doshi is not debarred from holding directorship by any authority.
Continuity at the top is maintained with the promoter's re-appointment, providing leadership stability. However, the sharp revenue contraction, negative reserves, and ongoing losses point to financial stress that shareholders should monitor closely.