Futuristic Solutions Ltd has appointed Parmjit Singh as a Non-Executive-Independent Director effective July 20, 2026, subject to the approval of shareholders. The appointment was approved by the Board of Directors through a circular resolution on the same date. The new director will serve a term of five years from the date of appointment.

Parmjit Singh brings extensive experience as an entrepreneur, agriculturist, and contractor. His expertise spans business operations, agriculture, and infrastructure-related activities. He currently owns and manages a bricks and tiles manufacturing business and has significant experience in farming, land development, orchard development, and minor irrigation projects.

The company disclosed that Parmjit Singh is not related to any of the directors, key managerial personnel, or promoters of the company. He is also not debarred from holding the office of director by any SEBI order or other authority. The appointment complies with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Parmjit Singh has provided his consent to act as director pursuant to section 152(5) of the Companies Act, 2013. He certified that he is not disqualified to become a director under the Companies Act, 2013. He is not holding any positions such as Managing Director, Chief Executive Officer, or Whole-time Director in any company and is not currently a director in any other company.

Key Details of Appointment

Futuristic Solutions Limited reported a net profit of ₹78.41 lakh for the financial year ended March 31, 2026, marking a turnaround from a net loss of ₹6.09 lakh in the previous year. The company's revenue from operations surged to ₹652.42 lakh compared to ₹19.86 lakh in FY25, driven largely by the realization of claims amounting to ₹640.91 lakh. Total income for the year stood at ₹702.33 lakh, while profit before tax was recorded at ₹108.59 lakh.

The Board of Directors has recommended the re-appointment of Mrs. Sangeeta Sandhu, who retires by rotation at the upcoming Annual General Meeting (AGM), subject to shareholder approval. Additionally, the Board has approved the revision of remuneration for Mr. Mandeep Sandhu, Managing Director, increasing it from ₹21,00,000 per annum to ₹27,00,000 per annum effective from April 1, 2026. Shareholders will also vote on the re-appointment of M/s Kumar Rajesh & Associates as Secretarial Auditor for a term of five years and the appointment of Mr. Parmjit Singh as an Independent Director.

Financial Performance

The company's financial results for the year ended March 31, 2026, reflect a significant improvement in operational performance. The profit before interest, depreciation, and tax (PBDIT) stood at ₹111.84 lakh, compared to a loss of ₹4.33 lakh in the previous year. Earnings per share (EPS) for the year improved to ₹0.75 from a negative ₹0.06 in FY25. The company maintained a strong liquidity position with cash and cash equivalents increasing to ₹878.57 lakh as of March 31, 2026, from ₹674.82 lakh in the prior year.

Governance and Compliance

The statutory auditors, M/s Mahesh Yadav & Co., confirmed that the company has adequate internal financial controls over financial reporting which were operating effectively during the year. The Secretarial Audit Report indicated compliance with the provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, except for a penalty imposed by SEBI for non-filing of returns within the prescribed time. The company's paid-up share capital remained unchanged at ₹1,047.34 lakh, divided into 1,04,73,447 equity shares of ₹10 each.