Board Meeting Details
The Board Meeting commenced at 5:00 PM and concluded at 5:11 PM on Wednesday, 12th August, 2026.
Key Decisions and Approvals
1. Financial Results Approval
The Board, based on the recommendation of the Audit Committee, approved the unaudited standalone financial results for the quarter ended 30th June, 2026.
2. Management Appointment
The Board approved the appointment of Ms. Pooja Hemang Khakhi (Membership No. A-36184) as Company Secretary and Compliance Officer, Senior Management Personnel designated as Key Managerial Personnel and Nodal Officer of the Company with effect from August 12, 2026. This appointment was based on the recommendation of the Nomination and Remuneration Committee.
Key Managerial Personnel Update
The updated list of Key Managerial Personnel as of August 12, 2026:
- Jaimin Gupta - Managing Director (Email: jaimin@varveeglobal.com)
- Pooja Hemang Khakhi - Company Secretary and Compliance Officer (Email: cs@varveeglobal.com)
Financial Results Summary (Standalone, Unaudited)
Period: Quarter ended 30th June, 2026
Currency: ₹ in Lakhs
Income Statement Highlights:
- Revenue from Operations: ₹825.67
- Purchase of Traded Goods: ₹62.96
- Total Income: ₹820.22
- Total Expenses: ₹1,575.64
- Profit Before Tax: (₹687.01) [Loss]
- Tax Expenses: (₹31.28) [Credit]
- Net Profit for the period: (₹655.73) [Loss]
- Other Comprehensive Income: ₹103.98
- Total Comprehensive Income: (₹551.75) [Loss]
Capital Structure:
- Paid-up equity share capital: ₹2,576.43
- Face value of equity share: ₹5.00
- Basic & Diluted EPS: (₹8.32) [Loss per share]
Comparative Figures:
Previous Quarter (31-03-2026, Audited):
- Total Income: ₹8,257.24
- Net Profit: ₹1,038.95
- EPS: ₹4.94
Same Quarter Previous Year (30-06-2025, Unaudited):
- Total Income: ₹627.28
- Net Profit: (₹3,064.86) [Loss]
- EPS: (₹8.32)
Limited Review Report Details
Auditor: M/s. Pankaj R Shah & Associates, Chartered Accountants
Report Date: 12th August, 2026
Opinion: Unmodified opinion - Nothing has come to their attention that causes them to believe the financial results contain any material misstatement.
Emphasis of Matters:
The auditors drew attention to the following notes in the financial results:
1. Note 3: Continuity in recognition of MAT credit of approximately ₹6.01 Crores as at June 30, 2026
2. Note 7: Factory owned by the Company given on lease
3. Note 11: Property Plant and Equipment sold during the quarter which were previously held as "Other than asset held for sale"
Additional Financial Information
MAT Credit Position:
- MAT credit balance recognized: ₹6.01 Crores (approximately) as of June 30, 2026
- MAT credit of ₹2.02 crores (approximately) lapsed and written off during FY 2025-26
- Management believes sufficient future taxable profits will allow utilization of remaining MAT credit
Asset Information:
- Non-current Assets Held for Sale: ₹1,442.03 Lakhs as of 31st March, 2026
- Assets reduced during quarter: Net Block of ₹33.16 Lakhs
Operational Update:
- During the quarter ended 30-06-2026, the company had no production of finished goods
- Company engaged in job work, trading of goods, and leasing arrangements
- Recognized lease rental income from three parties during the quarter
Fixed Assets:
- Company updated Fixed Asset Register based on physical verification
- Cost of sold assets derived using certain assumptions due to age of assets
Website Information
Unaudited standalone financial results available on:
- Company website: www.varveeglobal.com
- BSE website: www.bseindia.com
- NSE website: www.nseindia.com