Martin Burn appoints Kailash Kumar Kedia as independent director

Martin Burn Limited has appointed Kailash Kumar Kedia as an Independent Director of the company effective May 28, 2026. The appointment, made during a board meeting on the same day, is for a term of five years ending May 27, 2031. Simultaneously, the board noted the cessation of Mahesh Kumar Tibrewal as director effective May 29, 2026, following the completion of his tenure.

The board acknowledged Mr. Tibrewal's contributions over the past ten years. Mr. Kedia brings extensive experience from the real estate sector and is based in Kolkata. He is not related to any other director of the company.

Director Profile

Particulars	Details
Name	Mr. Kailash Kumar Kedia
Designation	Non-Executive Independent Director
DIN	02629502
Date of Birth	12 December 1959
Date of Appointment	28-05-2026
Term	5 Years (28-05-2026 to 27-05-2031)
Qualification	Graduate, University of Calcutta
Experience	Real estate business
Relationship with Directors	Not related to any director

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+5.95%	-0.25%	-12.49%	-12.00%	-28.77%	+9.05%

Martin Burn Limited reported a 68.3% decline in net profit to ₹189.92 crore for the financial year ended March 31, 2026, compared to ₹599.24 crore in the previous year. Revenue from operations dropped to ₹1.82 crore from ₹32.14 crore in FY25, while total income decreased to ₹659.83 crore from ₹1,670.11 crore. The company’s board approved the audited standalone financial results for FY26 and the financial results for the quarter ended March 31, 2026, in a meeting held on May 28, 2026.

Financial Performance

The decline in profitability was driven by a substantial reduction in other income, which fell to ₹658.01 crore in FY26 from ₹1,637.97 crore in the prior year. For the quarter ended March 31, 2026, the company reported a net profit of ₹17.40 crore, a sharp decrease from ₹403.49 crore in the corresponding quarter of the previous year. Revenue from operations for the quarter stood at ₹0.46 crore. Basic earnings per share (EPS) for the year stood at ₹3.68, down from ₹11.63 in FY25.

Auditor’s Report and Key Matters

Statutory auditors M/s. SD and Associates issued an unmodified opinion on the audited financial results. The auditors identified Capital Work In Progress, amounting to ₹1,098.85 lakhs, as a key audit matter due to the materiality and judgments involved. They also highlighted the write-off of bad and doubtful loans amounting to ₹445 lakhs against provisions created in the previous year as a key audit matter.

Regulatory Emphasis

The auditors drew attention to the company's lending and financing activities. Based on the "50-50 test" for financial assets and income, the company falls within the regulatory framework applicable to Non-Banking Financial Companies (NBFCs) and may be required to obtain a Certificate of Registration from the Reserve Bank of India. Management has acknowledged the matter and is undertaking a detailed evaluation with legal and professional advisors to initiate the registration process.