Industrial Investment Trust

Sagar Jaiswal, Group CFO and Key Managerial Personnel of Industrial Investment Trust Limited, has resigned from his position effective August 31, 2025. Jaiswal submitted his resignation letter on August 6, 2025, citing his intention to start his own Chartered Accountancy practice as the reason for leaving. The company's management has accepted his resignation. In his resignation letter, Jaiswal expressed gratitude for the learning opportunities during his tenure, particularly gaining experience in corporate accounting under Ind AS, financial statement preparation, and coordinating with auditors during statutory audits. He confirmed there are no other material reasons for his departure beyond his stated intention to pursue his long-standing aspiration of establishing his own CA practice.

Industrial Investment Trust Limited announced its unaudited financial results for the quarter ended June 30, 2025, showing significant improvement in performance. The company reported standalone profit after tax of ₹1,014.87 lakhs compared to ₹635.83 lakhs in the same quarter last year, with earnings per share increasing to ₹4.50 from ₹2.82. On a consolidated basis, profit after tax reached ₹1,032.89 lakhs versus ₹704.38 lakhs in the previous year. The company's total income on standalone basis was ₹1,505.78 lakhs, driven primarily by net gain on fair value changes of ₹1,081.57 lakhs and interest income of ₹423.39 lakhs. Alongside the financial results, the company announced the resignation of Group CFO Sagar Jaiswal effective August 31, 2025, who is leaving to start his own chartered accountancy practice. The board also approved the appointment of CS Payal Vyas as Secretarial Auditor for a five-year term from 2025-2026 to 2029-2030, subject to shareholder approval. The company noted concerns regarding its subsidiary IITL Projects Limited, which has accumulated losses of ₹630.80 lakhs and is no longer considered a going concern.

The National Company Law Tribunal (NCLT) has approved the amalgamation of subsidiaries of Industrial Investment Trust Limited (IITL). This corporate action involves the consolidation of IITL's subsidiary companies, which is likely aimed at streamlining operations and improving efficiency within the corporate structure.