Everlon Financials announced that Nitin Ishwarlal Parekh will cease to serve as an independent director on September 16, 2026. The departure follows the completion of his second consecutive five-year term on the board.

Parekh’s exit is effective from the close of business hours on the date of the company’s annual general meeting. Consequently, he will also step down from all respective committees of the board where he served as a member.

The board expressed gratitude for Parekh’s guidance and contributions during his tenure. The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Details

Everlon Financials has scheduled its 37th Annual General Meeting (AGM) for Wednesday, September 16, 2026, at 12:00 noon. The meeting will be conducted through Video Conferencing or Other Audio Visual Means (OAVM). Shareholders on record as of September 9, 2026, are eligible to vote. Remote e-voting opens on September 13 and closes on September 15, 2026.

The company’s financial results for FY26 reflect a significant turnaround in profitability compared to the previous year. While revenue from operations increased to ₹1,647.67 lakh from ₹1,311.42 lakh in FY25, the firm posted a net loss of ₹665.67 lakh, contrasting with a net profit of ₹118.87 lakh in the prior period.

Financial Performance

The decline in profitability was primarily driven by a sharp contraction in other income and substantial mark-to-market losses on investments. Other income fell drastically to ₹4.02 lakh in FY26, down from ₹244.31 lakh in FY25. Additionally, total expenses surged to ₹2,304.47 lakh from ₹1,136.88 lakh, largely due to an increase in the cost of purchased traded goods and changes in inventory levels.

What the Numbers Show

A critical driver of the net loss was the volatility in the company's investment portfolio. Non-current investments, measured at Fair Value Through Other Comprehensive Income (FVTOCI), dropped significantly in value. The carrying amount of these investments fell to ₹636.16 lakh as of March 31, 2026, from ₹1,478.41 lakh at the end of FY25. This decline resulted in a mark-to-market loss of ₹786.40 lakh recognized in other comprehensive income, heavily impacting the total comprehensive loss for the year, which stood at ₹1,384.29 lakh.

Balance Sheet and Governance

Total assets decreased to ₹1,764.87 lakh from ₹3,431.92 lakh in the previous year, reflecting the reduction in investment values. The company remains debt-free, with no short-term or long-term borrowings disclosed. Total equity stood at ₹1,740.26 lakh.

Mr. Sanjay Rasiklal Dholakia was appointed as an Additional Independent Director on July 28, 2026. The Board of Directors includes Mr. Jitendra K. Vakharia as Managing Director and Mrs. Varsha J. Vakharia as Non-Executive Director. The statutory auditor for FY26 was M/s. B.L. Dasharda & Associates.

Shareholder Communication

In compliance with Regulation 36(1)(b) of the SEBI Listing Regulations, letters are being sent to members whose email addresses are not registered with the company or Registrar & Share Transfer Agent. These letters provide the web-link to access the Annual Report for FY26 and the AGM notice. Shareholders holding physical securities are reminded to update their KYC details, including PAN, address, mobile number, bank account details, specimen signature, and nomination choice, pursuant to SEBI Master Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2024/37 dated May 7, 2024. Payments for folios without updated details will be made only through electronic mode effective April 1, 2024.