Madhucon Projects Limited has provided detailed clarifications to stock exchanges regarding the resignation of Mr. Samba Siva Rao Jasty from his position as Director-Finance & Administration, effective February 20, 2026. The company addressed regulatory compliance delays and provided comprehensive documentation to BSE and NSE following exchange inquiries.

Director Resignation and Regulatory Timeline

Mr. Samba Siva Rao Jasty (DIN: 09526475) submitted his resignation letter dated February 20, 2026, citing health reasons and personal circumstances. In his resignation letter, he stated that on medical advice, he was unable to continue discharging his duties effectively and considered it appropriate to step down from his responsibilities.

Exchange Communication and Compliance Issues

The BSE raised concerns regarding the delay in announcing the resignation within 24 hours of the effective date. Madhucon Projects clarified that Mr. Jasty filed Form DIR-11 with MCA (SRN No. AC2646709) on March 14, 2026, without prior Board approval. The company explained that the resignation was under compliance review when the director independently filed the cessation form.

Board Approval and Documentation

The Board of Directors formally accepted the resignation through Circular Agenda No. 100/2025-26 dated March 14, 2026. The company emphasized that Mr. Jasty was not categorized as a Key Managerial Person, which affected the urgency requirements for disclosure.

The resignation was processed in accordance with SEBI (LODR) Regulations, 2015, with the company providing comprehensive documentation including:

• Original resignation letter dated February 20, 2026
• MCA filing confirmation (SRN No. AC2646709)
• Board resolution extract approving the resignation
• Updated director signatory details showing cessation date

Current Board Composition

Following Mr. Jasty's departure, the company's board includes Mohammad Shafi as Whole-time Director, Kothapalli Venkateswarlu serving dual roles as CFO and Director, and several independent directors including Ramadas Kasaraneni, Venkata Sundara Jawaharlal Nehru Turlapati, and Geeta Battula.

Regulatory Confirmations

The company confirmed that Mr. Samba Siva Rao Jasty does not hold any other directorships in listed entities and stated there are no material reasons for resignation beyond those disclosed under Regulation 30 of SEBI (LODR) Regulations, 2015. The company has authorized any director to file the requisite Form DIR-12 with MCA and complete all necessary compliance requirements.

Madhucon Projects Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, showcasing a significant operational turnaround. The company's Board of Directors approved these results during their 614th meeting held on February 7, 2026.

Strong Quarterly Performance Recovery

The company demonstrated remarkable improvement in its standalone quarterly performance. Net profit surged to ₹539.22 lakhs in Q3FY26 compared to a loss of ₹295.60 lakhs in the corresponding quarter of the previous year, marking a substantial turnaround.

Nine-Month Period Shows Positive Momentum

For the nine months ended December 31, 2025, the company achieved a net profit of ₹1,022.64 lakhs, a significant improvement from the loss of ₹1,047.85 lakhs in the corresponding period of FY25. However, revenue from operations declined to ₹36,029.96 lakhs from ₹46,266.19 lakhs in the previous year.

Operational Efficiency Improvements

The company's cost management initiatives showed positive results during the quarter. Cost of materials consumed decreased to ₹7,191.92 lakhs in Q3FY26 from ₹10,437.72 lakhs in Q3FY25. Employee benefits expense also declined to ₹297.96 lakhs from ₹365.43 lakhs year-over-year.

Other income contributed significantly to the improved performance, reaching ₹5,034.62 lakhs in Q3FY26 compared to ₹3,522.67 lakhs in the previous year quarter.

Consolidated Results Reflect Challenges

While standalone results showed improvement, consolidated performance remained challenging. The consolidated net loss for Q3FY26 was ₹11,589.26 lakhs compared to ₹44,616.01 lakhs loss in Q3FY25. For the nine-month period, consolidated loss stood at ₹37,382.43 lakhs versus ₹46,179.02 lakhs in the previous year.

Regulatory Compliance and Publication

The results were approved during the 614th Board of Directors meeting held on February 7, 2026. The meeting commenced at 11:00 AM and concluded at 4:30 PM, with the Board addressing various business agenda items alongside the financial results approval.

Pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, the company published the extract of unaudited standalone and consolidated financial results in newspapers on February 8, 2026. The publication was made in Financial Express (English newspaper) and Nava Telangana (Telugu newspaper) as required under Regulation 47 of the SEBI (LODR) Regulations.

The results were prepared in accordance with Indian Accounting Standards under Section 133 of the Companies Act, 2013, and Regulation 33 of SEBI (LODR) Regulations, 2015. The statutory auditors submitted their limited review report on the unaudited financial results. The company maintains its paid-up equity share capital at ₹737.95 lakhs with a face value of ₹1 per share.