Board Meeting Details

The Board of Directors meeting was held on May 30, 2026, commencing at 9:00 AM and concluding at 9:30 AM.

Key Approvals and Disclosures

1. Audited Financial Results

The Board approved:

  • Audited standalone financial results for the quarter and year ended March 31, 2026
  • Audited consolidated financial results for the financial year ended March 31, 2026
  • Lodha & Co LLP, Statutory Auditors, issued unmodified opinion on both standalone and consolidated financial results

2. Promoter Reclassification Request

The Board received request letters dated May 11, 2026 from certain promoters for reclassification of their shareholding to "Public" category, subject to:

  • No-objection from stock exchanges
  • Approval of shareholders of the Company

3. Registered Office Shift

Approved shifting of Registered Office from 3rd Floor, Sharda Arcade, Pune Satara Road, Bibwewadi, Pune 411037 to 4th Floor, Sharda Arcade, Pune Satara Road, Bibwewadi, Pune 411037, effective July 1, 2026.

4. Director Re-appointment

Re-appointment of Ajay Puri as Independent Director for a second term of five years commencing from September 22, 2026 to September 21, 2031, subject to shareholders' approval.

Financial Performance Summary

Standalone Results (₹ in Lakhs)

Quarter Ended March 31, 2026:

  • Total Income: ₹1,314.09
  • Total Expenses: ₹1,125.45
  • Profit before Tax: ₹188.64
  • Other Comprehensive Income/(Loss): ₹(10.92)
  • Total Comprehensive Income: ₹141.20
  • Basic and Diluted EPS: ₹1.21

Year Ended March 31, 2026:

  • Total Income: ₹6,021.80
  • Total Expenses: ₹5,276.91
  • Profit before Tax: ₹744.89
  • Other Comprehensive Income/(Loss): ₹(10.92)
  • Total Comprehensive Income: ₹551.25
  • Basic and Diluted EPS: ₹4.46
  • Paid-up equity share capital: ₹1,259.50
  • Other Equity: ₹2,471.12

Consolidated Results (₹ in Lakhs)

Quarter Ended March 31, 2026:

  • Total Income: ₹1,415.83
  • Total Expenses: ₹1,594.51
  • Loss before tax from continuing operations: ₹(178.68)
  • Loss after tax from continuing & discontinued operations: ₹(215.31)
  • Other Comprehensive Income/(Loss): ₹(10.92)
  • Total Comprehensive Loss: ₹(226.23)
  • Basic and Diluted EPS: ₹(1.71)

Year Ended March 31, 2026:

  • Total Income: ₹6,295.51
  • Total Expenses: ₹6,417.56
  • Loss before tax from continuing operations: ₹(122.05)
  • Loss after tax from continuing & discontinued operations: ₹(305.39)
  • Other Comprehensive Income/(Loss): ₹(229.65)
  • Total Comprehensive Loss: ₹(535.04)
  • Basic and Diluted EPS: ₹(2.42)
  • Paid-up equity share capital: ₹1,259.50
  • Other Equity: ₹779.37

Subsidiary Information

The consolidated results include the following entities:

  • HOVS LLC, USA (Wholly owned subsidiary)
  • Healthcare Capital Holdings LLC, USA (Wholly owned subsidiary, incorporated May 23, 2025)
  • HOVS Holdings Limited, Hongkong (Wholly owned subsidiary, dissolved effective May 16, 2025)
  • HOV Environment LLC (Subsidiary of HOVS LLC, USA)
  • HOV Environment Solutions Private Limited (Subsidiary of HOV Environment LLC)
  • Aidéo Technologies LLC, USA (Wholly owned subsidiary of Healthcare Capital Holdings LLC effective September 1, 2025)

Significant Transactions and Events

Aideo Technologies Acquisition

The Company made a strategic investment through its subsidiary Healthcare Capital Holdings LLC (HCH):

  • HCH acquired 100% stake in Aideo Technologies LLC effective September 1, 2025
  • Acquisition consideration: Issue of 890,928 "Class B Preferred Stock" of ₹545.84 lakhs and assumption of net liabilities of ₹1,151.22 lakhs
  • Goodwill recognized: ₹1,697.06 lakhs on acquisition date
  • Foreign exchange fluctuation: ₹112.04 lakhs
  • Total goodwill as of March 31, 2026: ₹1,809.10 lakhs
  • No goodwill impairment identified for year ended March 31, 2026
  • Aideo is described as "a leading provider of AI-powered autonomous coding productivity solutions to the revenue cycle management"

Additional Financing

HCH issued 1,449,275 units of "Class B Preferred Stock" for consideration of ₹887.92 lakhs to ex-members of AIDEO, classified as debt under non-current financial liabilities.

Foreign Exchange Impact

Other income includes foreign exchange fluctuation gain (net):

  • Standalone: ₹117.85 lakhs (Q4 FY26), ₹193.88 lakhs (FY26)
  • Consolidated: ₹118.58 lakhs (Q4 FY26), ₹195.58 lakhs (FY26)

Labour Code Implementation

The Government of India notified and brought into force substantial provisions of the four Labour Codes on November 21, 2025. The Company has recognized provision for an amount which is not material in accordance with Ind AS 19.

Investment in Exela Technologies, Inc.

The Group's investment in Exela Technologies, Inc. (delisted from Nasdaq) fair value considered as ₹Nil. Classified as equity instrument designated as Fair Value through Other Comprehensive Income (FVOCI).

Cash Flow Statement (Year Ended March 31, 2026)

Consolidated (₹ in Lakhs)

  • Net cash used in operating activities: ₹(447.94)
  • Net cash from investing activities: ₹1.44
  • Net cash from financing activities: ₹607.86
  • Net increase in cash and cash equivalents: ₹161.36
  • Closing cash and cash equivalents: ₹627.90

Standalone (₹ in Lakhs)

  • Net cash from operating activities: ₹149.54
  • Net cash from investing activities: ₹0.55
  • Net cash used in financing activities: ₹(280.06)
  • Net decrease in cash and cash equivalents: ₹(129.97)
  • Closing cash and cash equivalents: ₹269.46