Mrs. Ketki Mahendra Save has resigned as Non-Executive Non-Independent Director of confidence petroleum effective June 4, 2026, due to preoccupation with other activities. The resignation was intimated to the stock exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Save confirmed there are no material reasons for her departure beyond the stated reason and that she has no claims against the company or its affiliates.

Following her resignation, Save ceased to be a member of several key committees of the company. These include the Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, Risk Management Committee, CSR Committee, and Management Committee. The disclosures regarding the cessation were made in accordance with SEBI master circular no SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Save requested the Board to acknowledge the resignation and undertake necessary formalities. These include filing the required forms with the jurisdictional Registrar of Companies and the Ministry of Corporate Affairs. The company will also file necessary intimations with other statutory authorities to give effect to the resignation.

The details of the director's cessation are summarized below:

Confidence Petroleum India Limited reported a consolidated net profit of ₹9,653 lakh for the financial year ended March 31, 2026, an increase from ₹9,084 lakh in the previous year. Revenue from operations for the year stood at ₹4,70,457 lakh, compared to ₹3,14,576 lakh in FY25. The board has recommended a final dividend of ₹0.10 per equity share, subject to shareholder approval at the ensuing Annual General Meeting. The statutory auditors issued a modified opinion on the financial results due to discrepancies in Goods and Services Tax (GST) input tax credit reconciliations.

Financial Performance

The company's standalone net profit for FY26 was ₹8,633 lakh, up from ₹7,740 lakh in the previous year, with revenue from operations rising to ₹4,52,967 lakh from ₹3,02,739 lakh. For the quarter ended March 31, 2026, the consolidated net profit was ₹3,439 lakh, while the standalone net profit was ₹2,670 lakh. The board approved the audited financial results for both standalone and consolidated entities during a meeting held on May 30, 2026.

Audit Qualifications

The statutory auditors, Singhi & Co. and Katariya and Munot, issued a qualified opinion on the standalone and consolidated financial results. The qualification arises from a difference of ₹1,288 lakh in the holding company's input tax credit between the balance reflected on the GST Network portal and the amount recorded in the books of account. The auditors stated they were unable to ascertain the impact of this discrepancy on the profit for the year and earlier periods, or its consequential effect on retained earnings and assets. The management is currently reconciling these differences and does not expect a material impact on the financial position.

Dividend and Borrowings

The board recommended a final dividend of 10%, or ₹0.10 per share, on a face value of ₹1 each for FY26. Additionally, the company confirmed it is not a Large Corporate as per SEBI circular dated October 19, 2023. Outstanding qualified borrowings at the end of the financial year were ₹174 crore, a decrease from ₹305.21 crore at the start of the year. The highest credit rating for the company's unsupported bank borrowings is A (Single A) by Acuite Rating and Research.