GB Global re-appoints Paresh Jain as Independent Director

GB Global Limited has approved the re-appointment of CA Paresh Jain as an Independent Director for a second term of five years, effective from June 5, 2026. The decision, taken at the board meeting on June 4, 2026, is subject to approval by shareholders at the ensuing general meeting. This move ensures continuity in the company's governance structure by retaining an experienced director on the board.

The re-appointment was unanimously approved based on the recommendation of the Nomination and Remuneration Committee. The board meeting commenced at 5:30 p.m. and concluded at 6:20 p.m. on June 4, 2026. The disclosure was made in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Profile of the Re-appointed Director

CA Paresh Jain is a Chartered Accountant and Commerce Graduate with over 10 years of experience in taxation, regulatory compliance, and corporate advisory. He has previously worked with leading firms in the sector. The company confirmed that he is not debarred from holding the office of director pursuant to any SEBI order or any other authority.

Key Details of the Appointment

Requirement	Disclosure
Reason for Change	Re-appointment of Mr. Paresh Jain as Independent Director for a second term of five years w.e.f. 05 June 2026 upto 04 June 2031 subject to approval of shareholders.
Date of Re-appointment	The Board of Directors at its meeting held on 04 June, 2026 approved the re-appointment.
Brief Profile	CA Paresh Jain is a Chartered Accountant and Commerce Graduate with over 10 years of experience in taxation, regulatory compliance, and corporate advisory.
Disclosure of relationships	Not Applicable
Regulatory Compliance	He is not debarred from holding the office of director pursuant to any SEBI order or any other authority.

The company has enclosed the detailed disclosures as required under sub-para 7 of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. GB Global Limited, formerly known as Mandhana Industries Limited, operates from its registered office in Mumbai.

GB Global Limited reported a consolidated net profit of ₹7,827.35 lakh for the financial year ended March 31, 2026, while standalone profit stood at ₹2,904.33 lakh. The company's statutory auditors, M/s. Bhuta Shah & Co. LLP, issued an audit report with a modified opinion, citing that balances of trade payables, trade receivables, advances, and GST balances are subject to confirmation and reconciliation. Consequently, the auditors stated they are unable to comment on the resultant impact on assets, liabilities, and profit for the period.

The Board of Directors approved the audited financial statements for the quarter and year ended March 31, 2026, during a meeting held on May 29, 2026. The meeting also saw the appointment of statutory auditors and other key personnel. M/s. Pradip Mohanlal Damania was appointed as the Cost Auditor for the financial year 2026-27, while M/s. Himesh Pandya & Associates was appointed as the Secretarial Auditor from FY 2025-2026 till FY 2029-2030. Additionally, M/s. JVJ & Co. LLP was re-appointed as the Internal Auditor for FY 2026-27.

The company reported total consolidated income of ₹20,996.89 lakh for FY26, compared to ₹29,148.71 lakh in the previous year. Total expenditure for the year was ₹16,475.13 lakh. On a standalone basis, total income was ₹14,884.71 lakh, with total expenses at ₹12,956.70 lakh. The earnings per share (EPS) for the consolidated entity was ₹15.64 for the year, while standalone EPS was ₹5.80.

Financial Performance

The following table outlines the key financial metrics for GB Global Limited for the financial year ended March 31, 2026:

Particulars	Consolidated FY26 (₹ in Lakhs)	Standalone FY26 (₹ in Lakhs)
Total Income	20,996.89	14,884.71
Total Expenditure	16,475.13	12,956.70
Net Profit for the Period	7,843.65	2,920.63
Share of Profit of Associates/JV	16.30	16.30
Net Profit for the Year	7,827.35	2,904.33
Earnings Per Share (₹)	15.64	5.80

Audit Qualification Details

The management stated that the audit qualifications are qualitative in nature, and the impact is unascertainable. This is attributed to the company being acquired under the Corporate Insolvency Resolution Process (CIRP), resulting in a deficiency in manpower and limited access to past records. As a result, the adjusted figures in the financial statements remain the same as the audited figures. The auditors concurred, asserting that the qualifications are qualitative and precluded them from commenting on the financial impact.

Auditor and Board Appointments

The Board approved the re-appointment of M/s. JVJ & Co. LLP as Internal Auditors, noting the firm's experience of over five years in audit. M/s. Himesh Pandya & Associates, a sole proprietorship firm, was appointed as Secretarial Auditor for a five-year term. The Cost Auditor, M/s. Pradip Mohanlal Damania, was appointed for the financial year 2026-27, with the firm operating at arm's length relationship with the company.