Explicit Finance has accepted the resignation of Ms. Vandana Kalokhe as an Independent Director, effective August 31, 2026. The company cited her pre-occupation as the reason for stepping down from the board.

The Board of Directors received the resignation letter dated August 31, 2026, and confirmed the immediate cessation of her duties. Ms. Kalokhe had been appointed as an Additional Director in the Non-Executive Independent category on June 16, 2026, subject to shareholder approval.

Resignation Details

Ms. Kalokhe tendered her resignation due to pre-occupation with work commitments. The company stated there were no other reasons for the departure. She holds a B.Com degree from the University of Mumbai and possesses expertise in accounting and finance.

Her professional background includes one year as an accountant at Oil and Natural Gas Corporation and a role as an operation executive at Revopedia Hospitality. She currently works as a freelance accountant and consultant for NBFCs and other entities.

Regulatory Compliance

The company notified the BSE Limited pursuant to Regulation 30 of the SEBI (LODR), 2015. The disclosure was made in compliance with SEBI circular no. CIR/CFD/CMD/4/2015 dated September 9, 2015.

Ms. Kalokhe’s DIN is 11757001. She is not related to any other director or Key Managerial Personnel of the company. The company confirmed she is not debarred from holding office by any order from SEBI or any other authority.

Explicit Finance Limited reported a contraction in both revenue and profitability for the first quarter of FY27. The company posted a standalone net profit of ₹6.38 lakh for the quarter ended June 30, 2026, compared to ₹9.93 lakh in the same period last year. This represents a decline of approximately 36% in bottom-line earnings.

Total income from operations fell sharply to ₹45.61 lakh, down from ₹89.27 lakh recorded in Q1FY26. The nearly 50% drop in top-line figures suggests reduced operational activity or lower transaction volumes during the period. Despite the revenue decline, the company maintained positive earnings, avoiding a loss position.

Financial Highlights

The Board of Directors approved the unaudited financial results at their meeting held on August 12, 2026. The figures were reviewed by the Audit Committee and subjected to limited review by statutory auditors.

Earnings per share (EPS) decreased to ₹0.07 from ₹0.11 in the prior year quarter. The equity share capital remained unchanged at ₹926.76 lakh. There were no exceptional or extraordinary items reported for the period, meaning the profit decline was driven entirely by operational performance.

What the Numbers Show

The divergence between the magnitude of revenue decline and the relatively smaller drop in net profit indicates some level of cost discipline or fixed cost absorption during the quarter. While revenue halved, profits did not fall proportionately, suggesting that operating expenses may have been managed effectively despite the lower income base. However, the absolute scale of operations remains small, with total income under ₹50 lakh.