Avantel Limited held its Board of Directors meeting on July 11, 2026, which commenced at 12:00 PM and concluded at 1:30 PM. The Board considered and approved several key items:

Financial Results Approval

The Board approved both the un-audited Standalone and Consolidated Financial Results along with Limited Review Reports for the first quarter and three months period ended June 30, 2026. The results were recommended by the Audit Committee and reviewed by the statutory auditors, Grandhy & Co.

Standalone Financial Performance (Q1 FY27)

  • Revenue from operations: ₹7,012.34 lakhs (compared to ₹5,183.65 lakhs in Q1 FY26)
  • Total income: ₹7,023.89 lakhs (including other income of ₹11.55 lakhs)
  • Profit before tax: ₹1,092.20 lakhs
  • Current tax expense: ₹330.43 lakhs
  • Net profit for the period: ₹761.77 lakhs
  • Earnings per share (basic and diluted): ₹0.29 (face value of ₹2 each)
  • Employee benefit expenses included ₹135.59 lakhs for Avantel Employee Stock Option Plan, 2023

Consolidated Financial Performance (Q1 FY27)

  • Total income: ₹7,054.24 lakhs
  • Profit before tax: ₹869.89 lakhs
  • Current tax expense: ₹330.43 lakhs
  • Net profit for the period: ₹539.46 lakhs
  • Earnings per share (basic and diluted): ₹0.20
  • Includes results of subsidiary iMeds Global Private Limited, which reported revenue of ₹30.35 lakhs and net loss of ₹222.31 lakhs

Management Changes and Appointments

1. Remuneration Revision: Mr. Abburi Siddhartha Sagar (DIN: 02312563), Executive Director (Strategy & Business Development), had his remuneration revised from ₹48.00 lakhs per annum to ₹55 lakhs per annum, effective July 11, 2026. All other terms and conditions remain unchanged.

2. Reappointment: Mr. Abburi Siddhartha Sagar was considered for reappointment as Executive Director (Strategy & Business Development) for a five-year term from March 8, 2027, to March 7, 2032, subject to shareholder approval via Postal Ballot.

3. New Appointment: Mr. Peddi Bala Bhaskar Rao (DIN: 10338290) was appointed as Additional Director designated as Director (Operations) for a three-year term from July 11, 2026, to July 10, 2029, subject to shareholder approval via Postal Ballot.

4. Independent Director Reappointment: Mr. Vyasabhattu Ramchander (DIN: 03400005) was reappointed as Independent Director for a second five-year term from May 6, 2027, to May 5, 2032, notwithstanding that he will attain age 75 during this term, subject to special resolution approval via Postal Ballot.

Committee Reconstitution

The Board reconstituted the Audit Committee, Nomination and Remuneration Committee, and Stakeholders' Relationship Committee with immediate effect.

Postal Ballot Approval

The Board approved the Notice of Postal Ballot to seek shareholder approval for the reappointment of Mr. Abburi Siddhartha Sagar, appointment of Mr. Peddi Bala Bhaskar Rao, and reappointment of Mr. Vyasabhattu Ramchander.

Business Segments

The company operates in two segments:

1. Communications and signal processing products: Manufacturing of Wireless Front End, Satellite communication, Embedded Systems, Signal Processing, Network Management and Software development

2. Health Care Services: Manufacturing of Disposables Skin Staplers, Removers and Oxygen Concentrators

Receivables Assurance

The company noted that its principal customer is an organization controlled by the Government of India, and based on past assurance of receivables, no provision for loss allowance was made as of June 30, 2026.