Austere Systems Limited has accepted the resignation of Ms. Richa Singh from the position of Company Secretary and Compliance Officer. The resignation, effective from the closing business hours of June 16, 2026, was submitted due to personal reasons. This development impacts the company's key managerial personnel structure and regulatory compliance oversight.

The company informed BSE Limited regarding the change in its compliance leadership pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was also made in accordance with Para A, Part A of Schedule III of the regulations and a related SEBI circular dated November 11, 2024. Piyush Gupta, Director & CFO, signed the regulatory filing on behalf of Austere Systems Limited.

Resignation Details

The resignation letter submitted by Ms. Richa Singh cited personal reasons for her departure. She requested the Board to accept her resignation and file the necessary forms with the Registrar of Companies to formalize the change. The effective date of cessation was confirmed as the close of business on June 16, 2026.

Key Event Information

Ms. Richa Singh expressed her gratitude to the Board for the support and cooperation extended during her tenure. The company has updated its records to reflect the vacancy in the position of Company Secretary and Compliance Officer.

Austere Systems Limited reported a 76.3% increase in net profit for the financial year ended March 31, 2026, reaching ₹503.94 lakh, compared to ₹285.86 lakh in the previous year. Revenue from operations rose 19.7% to ₹2,228.87 lakh from ₹1,862.05 lakh in FY25, driven by growth in the company's Information Technology services segment. The board approved the audited standalone financial results on May 26, 2026, following a recommendation by the Audit Committee.

The company’s total income for FY26 stood at ₹2,335.07 lakh, up from ₹1,886.17 lakh in the prior year. Earnings per share (EPS) increased to ₹5.47 from ₹3.81 in the previous year. For the half year ended March 31, 2026, the company recorded a profit of ₹286.84 lakh, with revenue of ₹1,194.87 lakh. The statutory auditors, Mukesh A Mittal & Co., issued an unmodified opinion on the financial results.

Financial Performance

The company’s expenses for the full year totaled ₹1,653.69 lakh, an increase from ₹1,498.43 lakh in FY25. Employee benefits expense rose to ₹682.56 lakh from ₹539.79 lakh, while other expenses increased to ₹917.73 lakh from ₹744.44 lakh. Finance costs decreased significantly to ₹2.92 lakh from ₹12.26 lakh in the previous year. The balance sheet reflects a strengthening of the financial position, with total assets growing to ₹3,955.04 lakh as of March 31, 2026, from ₹1,955.64 lakh a year earlier.

Regulatory and Legal Matters

The auditors drew attention to a penalty of ₹44.26 lakh imposed by the Competition Commission of India (CCI) regarding alleged contraventions of the Competition Act, 2002. An appeal filed by the company before the National Company Law Appellate Tribunal (NCLAT) was dismissed on September 25, 2025. The company has since filed an appeal before the Supreme Court of India. Based on legal advice and management assessment, the company expects a favourable outcome and has not made any provision for the penalty in the financial statements.

Fund Utilisation

Austere Systems, which listed on the BSE SME Platform on September 12, 2025, raised ₹15.56 crore through an initial public offering. The company confirmed that there has been no deviation or variation in the utilization of the proceeds. As of March 31, 2026, ₹174.04 lakh had been utilized, primarily for issue-related expenses and general corporate purposes, while the balance of ₹1,382.46 lakh was deposited in fixed deposit accounts. The company also declared an interim dividend of ₹0.20 per share on February 11, 2026.