Darshan Orna Limited has accepted the resignation of Mrs. Shivani Joshi as its Company Secretary and Compliance Officer, effective July 23, 2026. The company disclosed the change in key managerial personnel to the Bombay Stock Exchange on July 24, 2026, stating that the departure was due to personal reasons. This exit creates a vacancy in a critical compliance role responsible for ensuring adherence to securities regulations.

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. Mrs. Joshi submitted her resignation letter on July 23, 2026, which was formally acknowledged by the Board of Directors. Managing Director Ritesh Sheth signed the intimation letter sent to the exchange.

Mrs. Joshi, holding membership number A49742 with the Institute of Company Secretaries of India, served as both the Company Secretary and Compliance Officer for Darshan Orna Limited. Her resignation becomes effective from the close of business hours on July 23, 2026. In her resignation letter, she expressed gratitude to the Board for their guidance and support during her tenure.

Key Details of Resignation

The filing includes Annexure-A, which outlines the regulatory disclosures required for changes in key managerial personnel. The document confirms that the reason for the change is resignation due to personal reasons and attaches the original resignation letter for record-keeping purposes. No details regarding a replacement candidate or interim arrangements were provided in this specific disclosure.

Darshan Orna Limited is headquartered in Ahmedabad, Gujarat, with its registered office located at Shekh Sariya Chambers, Manek Chowk. The company continues to operate under the leadership of Managing Director Ritesh Sheth (DIN: 07100840). Investors are advised to monitor future filings for any announcements regarding the appointment of a new Company Secretary and Compliance Officer.

Darshan Orna Limited returned to profitability in the financial year ended March 31, 2026, reporting a net profit of ₹11.44 lakh compared to a net loss of ₹28.41 lakh in the previous year. The board approved the standalone audited financial results on May 28, 2026, confirming a turnaround driven by a substantial increase in equity share capital and improved financial management. The statutory auditors, Shah Karia & Associates, issued an unmodified opinion on the financial statements, though they noted that miscellaneous expenditure not to be written off was not disclosed as per IND AS.

The company's revenue from operations for the year stood at ₹849.45 lakh, a sharp decline from ₹7,149.51 lakh in FY25. Despite the drop in revenue, the firm managed to reduce total expenses to ₹864.55 lakh from ₹8,098.51 lakh in the prior year. For the quarter ended March 31, 2026, the company reported a net loss of ₹4.38 lakh on revenue of ₹2,531.49 lakh.

Financial Performance

The balance sheet as of March 31, 2026, reflects a significant strengthening of the equity base. Total equity rose to ₹3,528.22 lakh from ₹1,962.21 lakh in the previous year, primarily due to the issuance of shares. Total assets increased to ₹4,062.41 lakh from ₹2,711.66 lakh, supported by a rise in inventories and trade receivables.

Capital Structure and Cash Flows

Equity share capital doubled to ₹2,001.17 lakh during the year, with proceeds from share issuance contributing ₹1,000.59 lakh and securities premium adding ₹500.29 lakh to the cash flows. This capital infusion was critical in supporting operations. Borrowings decreased significantly to ₹92.20 lakh from ₹630.99 lakh, indicating a deleveraging of the balance sheet.

Cash flow from operating activities remained negative at ₹1,433.69 lakh, largely due to a substantial increase in trade receivables which stood at ₹1,396.89 lakh. However, financing activities provided a net cash inflow of ₹1,494.43 lakh, ensuring the company ended the year with cash and cash equivalents of ₹90.93 lakh, up from ₹48.52 lakh at the end of FY25.