D.S. Kulkarni Developers Limited accepts resignation of Company Secretary

D.S. Kulkarni Developers Limited has accepted the resignation of Ms. Sanjana Katlana from the positions of Company Secretary and Compliance Officer, effective June 9, 2026. The company disclosed that the resignation was submitted due to personal reasons, and confirmation has been received that no other material reasons prompted the decision. Consequently, Ms. Katlana has ceased to act as the Compliance Officer for the company.

The resignation was intimated to the stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Ms. Katlana had been associated with the company as Company Secretary and Compliance Officer since July 4, 2024. The company confirmed that she does not hold directorships or board committee memberships in any other listed entities.

Resignation Details

The company provided the following specific details regarding the cessation of the officer's tenure:

Particulars	Details
Reason for change	Resignation due to personal reasons
Date of Resignation	June 9, 2026
Directorships in other listed entities	Nil
Board committee memberships in other listed entities	Nil

The resignation letter from Ms. Sanjana Katlana was received by the Board of Directors. In her communication, she tendered her resignation from the post of Company Secretary and Compliance Officer with immediate effect. The filing was signed by Sumit Ramesh Diwane, Director of D.S. Kulkarni Developers Limited.

D S Kulkarni Developers Limited reported a net loss of ₹36.45 lakh for the financial year ended March 31, 2026, a significant decline from the net profit of ₹1,311.69 lakh recorded in the previous year. The company's revenue from operations fell to nil for FY26, down from ₹7,550 lakh in FY25, primarily due to the cessation of operational activities during the Corporate Insolvency Resolution Process (CIRP). Total income for the year stood at ₹5,617.32 lakh, driven entirely by other income, which decreased from ₹13,315.25 lakh in the prior year. The financial results for the quarter and year ended March 31, 2026, were subsequently published in Business Standard (all editions) and Navrashtra (all editions) dated June 1, 2026, pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

The company's financial results for the quarter and year ended March 31, 2026, were approved by the Board of Directors on May 30, 2026. M/s A R T H A and Associates, Chartered Accountants, issued an audit report with an unmodified opinion on the standalone financial results. The statement of profit and loss revealed a total expense of ₹5,653.77 lakh for FY26, slightly lower than the ₹12,003.56 lakh incurred in FY25. Finance costs for the year amounted to ₹5,613.14 lakh, a marginal increase from the previous year's ₹4,986.81 lakh.

Key Financial Metrics

Metric:	FY26 (₹ in Lacs)	FY25 (₹ in Lacs)
Revenue from operations:	-	7,550.00
Other income:	5,617.32	5,765.25
Total Income:	5,617.32	13,315.25
Total Expenses:	5,653.77	12,003.56
Net Profit/(Loss) for the period:	(36.45)	1,311.69
Basic Earnings Per Share (₹):	(0.36)	13.12

Quarterly Performance

For the quarter ended March 31, 2026, the company reported total income from operations of ₹1,388.37 lakh, compared to ₹8,945.46 lakh in the corresponding quarter of the previous year. The net loss for Q4 FY26 stood at ₹72.91 lakh, against a net profit of ₹859.58 lakh in Q4 FY25. Basic and diluted earnings per share for the quarter were ₹(0.73), compared to ₹8.60 in the year-ago period.

Quarterly Financial Summary (₹ in Lacs)

Metric:	Q4 FY26 (Audited)	Q3 FY26 (Unaudited)	Q4 FY25 (Audited)
Total Income from Operations:	1,388.37	1,416.13	8,945.46
Net Profit/(Loss):	(72.91)	(14.65)	859.58
Basic EPS (₹):	(0.73)	(0.15)	8.60
Equity Share Capital:	1,000.00	1,000.00	1,000.00

Balance Sheet and Cash Flows

The audited standalone balance sheet as of March 31, 2026, showed total assets of ₹92,596.44 lakh, a decrease from ₹95,546.76 lakh in the previous year. The company's equity remained in deficit, with total equity recorded at negative ₹12,879.12 lakh. Total liabilities stood at ₹1,05,475.56 lakh, comprising non-current liabilities of ₹62,134.72 lakh and current liabilities of ₹43,340.84 lakh.

The cash flow statement indicated a net cash outflow from financing activities of ₹3,273.44 lakh, mainly due to the repayment of long-term borrowings. Cash and cash equivalents at the end of the year were ₹160.70 lakh, down from ₹163.82 lakh at the beginning of the year.

Related Party Transactions

The Board disclosed related party transactions for the six months ended March 31, 2026, involving inter-corporate deposits with group companies. Transactions included deposits with Classic Promoters and Builders Private Limited and Ashdan Properties Private Limited. The company noted that prior approval of the Audit Committee could not be obtained as the Board is in the process of appointing Independent Directors to complete the composition of the Board and form the Audit Committee. The transactions were approved by the Board in its meeting held on May 30, 2026.