Modern Engineering & Projects Limited has formally announced the resignation of Whole Time 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.

Board Meeting Outcome and Official Confirmation

The company's Board of Directors convened on March 18, 2026, to formally acknowledge and document the resignation. The meeting, which commenced at 4:30 p.m. and concluded at 5:00 p.m., officially recorded Singh's departure from his position as Whole Time Director.

Director Resignation Details and Documentation

The company disclosed the resignation in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. In his formal resignation letter addressed to the Board of Directors, Singh cited "certain emerging unavoidable personal situations" as the reason for his departure. The resignation letter confirms his intention to step down from all directorship duties and committee memberships with immediate effect.

Regulatory Compliance and Stock Exchange Communication

Managing Director Fattehsingh Krishnrao Patil (DIN: 10738344) signed the official communication to BSE Limited, confirming the board change under the company's scrip code 539762 and symbol MEAPL. The company has fulfilled all regulatory requirements by providing detailed disclosures as mandated under the SEBI regulations, ensuring proper documentation of the transition.

Confirmation of Circumstances

In his resignation letter, Singh explicitly confirmed that there are no material reasons for his resignation beyond the personal circumstances mentioned. He expressed gratitude to the Board of Directors for his association during his tenure and requested the company to submit necessary forms with the Registrar of Companies and Stock Exchange. The resignation affects both his directorship role and any associated committee memberships within the organization.

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.