1. Financial Results

The Board approved the unaudited standalone financial results for the quarter ended June 30, 2026 (Q1 FY27), along with the limited review report issued by the statutory auditors, B S R & Co. LLP.

Key Financial Figures (₹ in Lakhs):

  • Revenue from operations: ₹6,013.56 (Q1 FY27) vs ₹5,279.22 (Q1 FY26)
  • Other income: ₹113.67 (Q1 FY27) vs ₹61.31 (Q1 FY26)
  • Total income: ₹6,127.23 (Q1 FY27) vs ₹5,340.53 (Q1 FY26)
  • Total expenses: ₹7,645.14 (Q1 FY27) vs ₹6,747.07 (Q1 FY26)
  • Loss before tax: ₹(1,517.91) (Q1 FY27) vs ₹(1,406.54) (Q1 FY26)
  • Tax expense: ₹0.00
  • Net loss for the period: ₹(1,517.91) (Q1 FY27) vs ₹(1,406.54) (Q1 FY26)
  • Total comprehensive loss: ₹(1,523.86) (Q1 FY27) vs ₹(1,416.30) (Q1 FY26)
  • Paid-up equity share capital: ₹1,518.76 lakhs
  • Face value per equity share: ₹10.00
  • Basic & Diluted EPS: ₹(9.99) (Q1 FY27) vs ₹(10.74) (Q1 FY26)

Auditor's Note on Going Concern: The statutory auditors drew attention to Note 5 regarding the management's assessment of the going concern assumption. The Company has incurred losses in prior years, has a negative net worth, and has a negative working capital position as of June 30, 2026. The management believes the Company will meet its obligations based on financial support from the promoter group and available funds.

2. Appointment of Company Secretary and Compliance Officer

The Board approved the appointment of Mrs. Shilpa Rathi (Membership No. ACS 27457) as Company Secretary and Compliance Officer of the Company pursuant to Section 203 of the Companies Act, 2013 and Regulation 6(1) of SEBI Listing Regulations, effective August 03, 2026. She was also appointed as Nodal Officer under Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016.

Profile Details (Annexure II): Mrs. Rathi is an Associate Member of ICSI, holds an LL.B. and BBA, and has over 12 years of experience in corporate secretarial, legal, governance, and regulatory compliance functions. She previously worked with Kabra Extrusiontechnik Limited and GM Breweries Limited.

3. Appointment of Senior Management Personnel

The Board approved the appointment of Mrs. Bindiya Varmani as Vice President and HR Head (Senior Management Personnel), effective August 03, 2026.

Profile Details (Annexure III): Mrs. Varmani has over 20 years of experience in human resources across IT, consulting, retail, e-commerce, manufacturing, insurance, and financial services. She holds a PGPM in Management Studies (HR), an M.Sc. in Psychology, and a Bachelor's (Honours) in Psychology. She previously held leadership roles at Grihum Housing Finance Limited and Titan Company Limited.

4. Change in Designation of Mr. Harsh Mariwala

Mr. Harsh Mariwala (DIN: 00210342), currently Managing Director and Chairman, will be appointed as Non-Executive Director and Chairman of the Company effective November 1, 2026, upon the expiry of his current term on October 31, 2026. This is subject to shareholder approval.

Details (Annexure IV): Mr. Mariwala has been associated with the Company since 2003 and has held various positions including Chairman & Managing Director. He is considered a promoter of the Company.

5. Appointment of Managing Director

The Board approved the appointment of Mr. Rishabh Mariwala (DIN: 03072284) as Managing Director (Promoter and Executive) for a five-year term effective from November 01, 2026, to October 31, 2031. This appointment is subject to shareholder approval, and he shall be liable to retire by rotation.

Profile Details (Annexure V): Mr. Rishabh Mariwala is a graduate of the Zarb School of Business, Hofstra University, New York, USA. He is the Managing Partner of Sharrp Ventures, the Mariwala family office, and has experience in investment management, venture capital, and business strategy. He was previously associated with Kaya Life and involved in entrepreneurial ventures including Soap Opera. He is the son of Mr. Harsh Mariwala and nephew of Mr. Rajendra Mariwala.

6. Deferred Agenda Item

The Board deferred the agenda item for raising funds through the issuance of equity shares, debt securities, and/or any other eligible securities via permissible modes (including private placement, preferential issue) until further notice. The revised date for the deferred Board meeting will be intimated in due course.

Additional Notes from Financial Statements

  • Employee Stock Options: As of June 30, 2026, the company had 526,308 stock options outstanding.
  • EPFO Provision: The Company has made a provision of ₹2,379.70 lakhs (as of date) towards a liability relating to various allowances not considered part of wages, following an order from the EPFO Regional Office. The matter is under proceedings.
  • Impairment Loss: An impairment loss of ₹1,176.58 lakhs was recognized on a Cash Generating Unit (CGU) during the previous year (FY26).