Key Business Transactions Approved

1. Unaudited Financial Results for Q1 FY27: The Board approved the unaudited financial results for the quarter ended June 30, 2026.

2. Resignation of Company Secretary: The Board took note of the resignation of Ms. Nisha Nagaraj Rao as Company Secretary and Compliance Officer, effective July 31, 2026.

3. Resignation of Statutory Auditors: The Board accepted the resignation of M/s. Narasimha Rao & Associates, Chartered Accountants (FRN: 002336S), as Statutory Auditors, effective August 13, 2026.

4. Appointment of New Statutory Auditors: Based on Audit Committee recommendations, the Board approved the appointment of M/s. G. Nagendra Sundaram & Co., Chartered Accountants (FRN: 005355S) as Statutory Auditors until the conclusion of the next Annual General Meeting, subject to shareholder approval.

5. Promoter Re-classification: The Board approved the withdrawal of the re-classification application for Mrs. Shantha Prasad Challa and decided to proceed with re-classification of the remaining outgoing promoters.

Financial Results for Quarter Ended June 30, 2026 (₹ in Crores)

  • Total Income: ₹1.035 crore
  • Total Expenses: ₹0.386 crore
  • Profit Before Tax: ₹0.649 crore
  • Tax Expense: ₹0.192 crore (Current tax: ₹0.228 crore, Deferred tax: ₹-0.036 crore)
  • Net Profit for Period: ₹0.457 crore
  • Other Comprehensive Income: ₹17.175 crore
  • Total Comprehensive Income: ₹17.631 crore
  • Paid-up Equity Share Capital: ₹2.45 crore (Face value ₹10 each)
  • Earnings Per Share: Basic and Diluted ₹1.86

Auditor Resignation Details

M/s. Narasimha Rao & Associates resigned citing significant manpower constraints and resource limitations affecting their ability to deploy adequate professional resources within required timelines. The resignation is not due to any disagreement with management or matters relating to financial statements or accounting policies. The auditor completed the statutory audit for FY26 (ended March 31, 2026) and submitted the report on May 22, 2026, and also submitted the Limited Review Report for Q1 FY27.

New Auditor Profile

M/s. G. Nagendra Sundaram & Co. is a Hyderabad-based firm established in 1991 with experience in audit, assurance, taxation, advisory and compliance services. The firm holds valid Peer Review Certificate from ICAI.

Meeting Details

The Board meeting commenced at 5:00 PM and concluded at 5:15 PM on August 13, 2026.

Limited Review Report

The Statutory Auditors conducted a limited review of the unaudited financial results for Q1 FY27 and issued a report stating nothing came to their attention suggesting material misstatement or non-compliance with disclosure requirements.