Modern Engineering & Projects Limited has formally announced the resignation of Director Mr. Jashandeep Singh, marking a significant change in the company's board composition. The resignation, submitted on March 13, 2026, takes effect from the closure of business hours on the same date.

Director Resignation Details

The company disclosed the resignation in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. Jashandeep Singh, holding Director Identification Number (DIN) 02357390, cited personal reasons for his departure from the board.

Committee Membership Impact

Following his resignation as Director, Singh will simultaneously cease to be a Member of the Stakeholders Relationship Committee of the Company. This dual departure affects both the board structure and committee composition of Modern Engineering and Projects Limited.

Regulatory Compliance and Documentation

The company has fulfilled all regulatory requirements by providing detailed disclosures as mandated under Schedule III – Para A(7B) of Part A of the Listing Regulations. The announcement references compliance with SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, and SEBI Circular SEBI/HO/CFD/CFD-PoD-2/CIR/P/2024/185 dated December 31, 2024.

Confirmation of Circumstances

In his formal resignation letter addressed to the Board of Directors, Singh confirmed that there are no material reasons for his resignation beyond the personal circumstances mentioned. The resignation letter, included as an annexure to the company's disclosure, states his intention to step down due to "certain emerging unavoidable personal situations."

Additional Directorships

The regulatory disclosure reveals that Singh does not hold directorships in any other listed entities, indicating his sole board commitment was with Modern Engineering and Projects Limited. Managing Director Fattehsingh Krishnrao Patil (DIN: 10738344) signed the official communication to BSE Limited, confirming the board change and ensuring proper documentation of the transition.

Modern engineering & projects Limited has announced its Q3FY26 financial results, marking a significant turnaround with a net profit of ₹337.13 lakhs compared to a loss of ₹360.63 lakhs in the corresponding quarter of the previous year. The Board of Directors approved these unaudited financial results during their meeting held on February 12, 2026, as previously scheduled.

Financial Performance Overview

The company demonstrated robust operational performance during the third quarter ended December 31, 2025. Revenue from operations increased to ₹2,480.13 lakhs from ₹2,267.74 lakhs in Q3FY25, representing steady growth in the infrastructure sector.

Nine-Month Performance Analysis

The company's nine-month performance showed remarkable improvement with net profit of ₹812.15 lakhs compared to a loss of ₹207.83 lakhs in the corresponding period of the previous year. Revenue from operations reached ₹7,216.26 lakhs against ₹5,341.59 lakhs, indicating strong business momentum.

Joint Venture Operations

The company's financial results include contributions from multiple joint venture operations. MEPIDL-MCL-JV contributed total revenue of ₹5,546.85 lakhs and profit before tax of ₹364.87 lakhs for the nine-month period. Additionally, Aquatech-MEPL-JV for the Khopoli Underground Sewerage Scheme generated revenue of ₹434.86 lakhs with profit before tax of ₹32.64 lakhs.

Corporate Governance and Compliance

The financial results were reviewed by the Audit Committee and approved by the Board of Directors during their meeting held from 3:00 PM to 3:30 PM on February 12, 2026. Managing Director Fattehsingh Krishnrao Patil (DIN: 10738344) signed the official communication, ensuring proper regulatory compliance under SEBI (LODR) Regulations, 2015.

The company noted that its Company Secretary resigned on December 12, 2025, and is taking necessary steps to fill this vacancy within the statutory timeframe of six months as required under the Companies Act, 2013. The statutory auditors S.K. Patodia & Associates LLP have reviewed the financial results in accordance with Regulation 33 requirements.