California Software has reappointed Vijayakumar Madhavan and B. Duraisamy to its Board of Directors, effective August 1, 2026. The company announced the appointments on July 30, 2026, confirming that both directors will serve five-year terms. The reappointments require final approval from shareholders at the ensuing Annual General Meeting.

The Board passed circular resolutions to formalize the appointments. Vijayakumar Madhavan (DIN: 07892448) is reappointed as a Whole-time Director. B. Duraisamy (DIN: 09258691) is reappointed as an Independent Non-executive Director. These roles are critical for the company’s operational leadership and governance oversight.

Key Appointment Details

The appointments were communicated to the National Stock Exchange of India Limited and BSE Limited. Krishnamoorthy Venkatesan, Company Secretary & Compliance Officer, signed the intimation letter.

Governance Implications

The reappointment of an Independent Non-executive Director like B. Duraisamy reinforces the company’s commitment to independent oversight. Meanwhile, retaining Vijayakumar Madhavan as Whole-time Director ensures continuity in executive management. Shareholders will vote on these resolutions during the upcoming Annual General Meeting, providing a final check on the Board’s composition decisions.

California Software Company Limited reported a net profit of ₹411.64 lakh for the quarter ended June 30, 2026, marking a sharp increase from ₹19.32 lakh in the corresponding period of the previous year. Revenue from operations surged to ₹662.88 lakh for the quarter, compared to ₹154.59 lakh in Q1FY26, driven by its IT and software development business. The board of directors approved the unaudited standalone and consolidated financial results for the period on July 20, 2026.

The company’s total income for Q1FY27 stood at ₹662.88 lakh, while total expenses were recorded at ₹110.89 lakh. Profit before tax for the quarter was ₹551.99 lakh, a substantial rise from ₹26.10 lakh in the prior year. Earnings per equity share (basic and diluted) increased to ₹0.67 from ₹0.03 in the same quarter last year. The financial results were reviewed by the Audit Committee and approved by the Board.

Financial Performance

The standalone and consolidated financial results for the quarter and year ended June 30, 2026, are detailed below:

Auditor's Observations

K. Gopal Rao & Co., Chartered Accountants, issued a Limited Review Report with a qualified conclusion. The auditors noted that trade receivables amounting to ₹2,336.55 lakh contain long-pending items for which no provision for expected credit loss has been created. Additionally, the current tax asset (net) of ₹380.02 lakh reported in the standalone financial results is subject to reconciliation, the effect of which is not quantifiable.

The auditors also highlighted that an investment in an equity instrument of a subsidiary amounting to ₹311.38 lakh is subject to impairment testing, and the effect of any potential impairment loss is not quantifiable. In respect of input tax credit for the three months ended June 2026, reconciliation matching with 2A/2B is pending. Compliance regarding TDS liability is also pending for payment and is expected to be made with interest.

The consolidated unaudited financial results include the interim financial information of subsidiary M/s. Aspire Communications Private Limited, which has not been reviewed by its auditors. The subsidiary reported nil revenue, nil profit after tax, and nil comprehensive income for the quarter ended June 30, 2026.