Date: 11th August 2026

KMP / Board / Auditor Changes

Appointment of Chief Financial Officer:

  • Mr. Shleshank Laheri was appointed as Chief Financial Officer and Key Managerial Personnel of the Company, effective August 11, 2026.
  • He is a Chartered Accountant with nearly 22 years of experience across Investment Banking, Healthcare, and FMCG sectors.

Re-appointment of Managing Director:

  • Mr. Prayas Goel (DIN: 003485219) was re-appointed as Managing Director for a further term of three years, commencing from 1st April 2027 and ending on 31st March 2030, subject to shareholder approval.
  • He has over 25 years of experience in organizational strategy, business process re-engineering, and technology innovation.
  • Relationship disclosure: Spouse of Ms. Namrata Goel and Brother of Mr. Prerak Goel.

Re-appointment of Independent Directors (all subject to shareholder approval):

  • Mr. Prakash Shah (DIN: 00286277) as Non-Executive Independent Director for a second term of five years from 25th May 2027 to 24th May 2032.
  • Distinguished solicitor and advocate with 43 years of legal experience, associated with the Company since 25th May 2022.
  • Ms. Kamal Shanbhag (DIN: 09578441) as Non-Executive Independent Director for a second term of five years from 25th May 2027 to 24th May 2032.
  • Accomplished finance professional with over 27 years of experience, associated with the Company since 25th May 2022.
  • Mr. Shiraz Bugwadia (DIN: 01213884) as Non-Executive Independent Director for a second term of five years from 20th June 2027 to 19th June 2032.
  • Seasoned business leader with over 17 years of experience in corporate finance and M&A, associated with the Company since 20th June 2022.

Authorized Personnel for Materiality Determination:

The Board authorized the following to determine materiality of events and make disclosures to Stock Exchanges:

1. Prayas Goel - Managing Director

2. Prerak Goel - Executive Director

3. Shleshank Laheri - Chief Financial Officer

Board Meeting Outcomes

The Board meeting held on 11th August 2026 (17:45 to 18:12 IST) approved:

1. Un-audited Standalone and Consolidated Financial Results for Q1 FY27 ended 30th June 2026

2. Statement of Deviation/Variation in IPO proceeds utilization for quarter ended 30th June 2026

3. Appointment of Mr. Shleshank Laheri as CFO

4. Re-appointment of Mr. Prayas Goel as Managing Director

5. Re-appointment of three Independent Directors

6. Authorization of personnel for materiality determination

Financial Results (Standalone)

For Quarter Ended June 30, 2026 (₹ in millions):

  • Revenue from operations: 125.11
  • Other income: 12.25
  • Total income: 137.36
  • Total expenses: 134.21
  • Profit before exceptional item & tax: 2.15
  • Exceptional Item: Impact of Labour Codes reversal: (3.90)
  • Profit before tax: 59.98
  • Tax expense: (0.90)
  • Profit after tax: 3.05
  • Other comprehensive income: (0.10)
  • Total comprehensive income: 2.95
  • Basic/Diluted EPS: ₹0.15

Comparative Figures (₹ in millions):

  • March 31, 2026: Revenue 176.35, PAT 42.55, EPS ₹2.06
  • June 30, 2025: Revenue 112.18, PAT 39.52, EPS ₹1.90
  • March 31, 2026 (Audited): Revenue 558.71, PAT 95.91, EPS ₹4.63

Financial Results (Consolidated)

For Quarter Ended June 30, 2026 (₹ in millions):

  • Revenue from operations: 2,042.58
  • Other income: 64.23
  • Total income: 2,106.81
  • Total expenses: 2,292.55
  • Loss before exceptional item & tax: (186.74)
  • Exceptional Item: Impact of Labour Codes: (51.75)
  • Share of loss of joint ventures: (10.36)
  • Loss before tax from continuing operations: (197.10)
  • Tax expense: (25.74)
  • Loss after tax from continuing operations: (171.36)
  • Loss from discontinued operations: (4.33)
  • Net loss for the period: (175.69)
  • Other comprehensive income: (0.73)
  • Total comprehensive loss: (174.55)
  • Basic/Diluted EPS from continuing operations: (₹8.28)
  • Basic/Diluted EPS from discontinued operations: (₹0.21)

Comparative Figures (₹ in millions):

  • March 31, 2026: Revenue 1,960.24, PAT 141.55, EPS ₹7.10
  • June 30, 2025: Revenue 1,706.13, PAT 41.19, EPS ₹2.48
  • March 31, 2026 (Audited): Revenue 5,578.56, PAT 197.57, EPS ₹11.02

IPO Proceeds Utilization

Fund Raising Details:

  • Mode: Public Issues
  • Date: 27-12-2024
  • Amount Raised: ₹175.00 Crores
  • Monitoring Agency: ICRA Limited
  • No deviation/variation in use of funds

Utilization as at June 30, 2026 (₹ in millions):

  • Investment in subsidiary CEF for capex: Allocated 250.00, Utilized 75.35, Unutilized 174.65
  • Investment in RSSPL for capex: Allocated 105.05, Utilized 0, Unutilized 105.05
  • Company capex for plant & machinery: Allocated 32.07, Utilized 0, Unutilized 32.07
  • Investment in CEF for debt repayment: Allocated 500.00, Utilized 500.00, Unutilized 0
  • Investment in CEF for working capital: Allocated 200.00, Utilized 0, Unutilized 200.00
  • Investment in joint venture Roserve Enviro: Allocated 100.00, Utilized 0, Unutilized 100.00
  • General Corporate Purposes: Allocated 235.00, Utilized 198.64, Unutilized 36.36
  • Total unutilized amount: ₹432.58 million, of which ₹431.80 million temporarily invested in commercial bank

Other Operational Disclosures

Labour Codes Impact:

  • Government notified four Labour Codes on November 24, 2025
  • Company recognized incremental liability of ₹3.90 million in Q3 FY26 as Exceptional Item
  • During Q4 FY26, restructured salary framework resulted in reversal of this provision

Business Segments:

  • Company primarily engaged in single business segment of water treatment products and technologies
  • No other reportable segments as per Ind AS 108

Discontinued Operations:

  • Blue Water Trading & Treatment FZE (step-down subsidiary) classified as discontinued operation
  • Management resolution passed on February 13, 2025 to discontinue operations
  • Q1 FY26 results: Total income ₹5.30 million, Loss before tax ₹(4.33) million