REAPPOINTMENT OF MR. KUNAL R SHAH(DIN 00125448) AS INDEPENDENT DIRECTOR (NON EXECUTIVE AND INDEPENDENT ) FOR SECOND TERM OF FIVE YEARS
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Warren Tea's board, at its May 20, 2025 meeting, approved the reappointment of Mr. Kunal R Shah as Non-Executive Independent Director for a second 5-year term starting June 29, 2026, and appointed M/s MKB & Associates as Secretarial Auditor for FY2025-26 to FY2029-30. The company also announced audited FY25 results: standalone net profit of Rs 64 lakhs (vs a Rs 85 lakh loss in FY24) on zero operating revenue, with total income of Rs 446 lakhs coming entirely from interest on deposits and investments. Consolidated net profit was Rs 176 lakhs (vs Rs 29 lakhs) aided by Rs 112 lakhs share of profit from associate Maple Hotels. The company noted it has fully exited the tea plantation business and that its merchant export plans remain on hold due to the Russia-Ukraine conflict. A voluntary delisting application is pending with the Calcutta Stock Exchange.
Routine governance items (director reappointment, new secretarial auditor) with no material impact on shareholders. The FY25 turnaround to profit is driven only by investment income, not core operations, and the ongoing delisting process at Calcutta Stock Exchange could eventually affect liquidity for some retail holders.