Arihant Institute Limited appointed Jitendrakumar Nagjibhai Dobariya as an Additional Executive Director following the death of board member Vinodray Keshavlal Kamdar.

The company’s Board of Directors approved the appointment on September 21, 2026, based on the recommendation of the Nomination and Remuneration Committee. Mr. Dobariya will hold office until the next Annual General Meeting, subject to shareholder approval.

Mr. Kamdar ceased to be a director on August 28, 2026, due to his demise. He had served on the board since June 28, 2023. The company described his passing as an irreparable loss and conveyed condolences to his family.

Board Changes

Mr. Dobariya is not related to any existing directors of Arihant Institute. The company confirmed he is not debarred from holding office by SEBI or any other authority.

New Director Profile

Mr. Dobariya brings experience in stationery trading and exports. He established business operations in this sector in 2018 and has exported products to markets including Russia, Iran, and Kyrgyzstan.

His background includes:

• Strong sourcing network with reputed Indian stationery manufacturers
• Experience in bulk procurement, wholesale trading, and export dispatch
• Handling of writing instruments and general consumer goods

The intimation was filed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Arihant Institute Limited reported a 23% year-on-year increase in net profit to ₹1.89 lakh for FY26. The education services provider saw its revenue from operations grow 43% to ₹6.14 lakh, driven by improved cost management and lower finance expenses.

The Ahmedabad-based company’s 19th Annual General Meeting is scheduled for September 30, 2026. While operational metrics improved, the filing highlights significant regulatory compliance gaps, including delayed statutory filings and substantial unpaid tax liabilities.

Financial Performance

Revenue from operations rose to ₹6.14 lakh in FY26 from ₹4.30 lakh in the previous year. This growth occurred despite a sharp decline in other income, which fell to ₹1.21 lakh from ₹5.19 lakh in FY25.

Total expenses contracted significantly to ₹5.91 lakh from ₹8.25 lakh in FY25. This reduction was primarily driven by a drop in employee benefit expenses, which fell to zero from ₹1.55 lakh in the prior year, and lower finance costs.

Profit before tax increased to ₹1.44 lakh from ₹1.23 lakh. The net profit improvement was further aided by a higher deferred tax benefit of ₹45,130 compared to ₹31,122 in the previous year.

Compliance and Regulatory Issues

Despite the operational turnaround, the statutory auditor, M/s Devadiya & Associates, flagged serious compliance failures. The company has not regularly deposited undisputed statutory dues, including GST, TDS, and income tax.

As of March 31, 2026, outstanding undisputed dues included:

• Income Tax: ₹24.62 lakh
• GST Payable: ₹3.54 lakh
• TDS Payable: ₹3.27 lakh
• Provident Fund: ₹64,164

The secretarial audit report noted multiple delays in SEBI LODR filings, including shareholding patterns, financial results, and voting results. The company also failed to appoint a qualified Company Secretary within the stipulated timeline following a vacancy.

Corporate Governance Updates

Mr. Vinodray Keshavlal Kamdar, a Non-Executive Director, ceased to hold office upon his demise on August 28, 2026. The Board recommended his replacement during the upcoming AGM.

The Board also proposed the reappointment of Mr. Sandip Manna as a director retiring by rotation. Additionally, M/s Devadiya & Associates was recommended for reappointment as Statutory Auditors for a second five-year term ending March 2031.

What the Numbers Show

The divergence between operating revenue growth and total revenue decline reveals a shift in income composition. While core coaching revenue grew 43%, the collapse in other income (down 77%) indicates that non-operating gains no longer sustain top-line figures. The simultaneous drop in employee costs to zero suggests a potential restructuring or reliance on non-salaried faculty, warranting closer scrutiny of future sustainability.