Pagaria Energy Limited accepted the resignation of Mrs. Mamta Bhansali as Non-Executive Independent Director with immediate effect on September 3, 2026. The departure follows the completion of her second consecutive five-year tenure.

The company filed an additional disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, to address discrepancies flagged by stock exchanges. The initial filing missed attaching the resignation letter and specific details regarding the reason for exit.

Resignation Details

Mrs. Bhansali tendered her resignation citing unavoidable circumstances linked to the expiry of her second term. The company confirmed there are no other material reasons for her departure. She does not hold directorships in any other listed entities.

Compliance Clarification

Pagaria Energy stated that the omission of documents in the initial filing was inadvertent. Rekha Patni, Company Secretary and Compliance Officer, affirmed that there was no malafide intention and that the company adheres to corporate governance policies. The firm committed to greater caution in future exchange filings.

What the Numbers Show

The resignation is strictly procedural, driven by regulatory tenure limits rather than operational performance or governance disputes. The absence of any cited "material reasons" beyond tenure completion suggests a routine board rotation rather than a strategic shift or conflict.

Pagaria Energy Limited reported a net loss of ₹45.02 lakh for the financial year ended March 31, 2026, reversing the ₹6.15 lakh profit recorded in FY25. The company’s total income rose to ₹24.50 lakh from ₹18.38 lakh, but expenses surged to ₹69.52 lakh from ₹10.97 lakh.

The board approved the draft Board’s Report for FY26 and scheduled its 35th Annual General Meeting (AGM) for September 30, 2026, at 12:15 pm via video conferencing. The Register of Members and Share Transfer Books will remain closed from September 24, 2026, to September 30, 2026, for this purpose.

Financial Performance

The company’s financial results for FY26 reflect a significant shift from profitability to a loss position. While revenue from operations contributed ₹22.50 lakh, other income stood at ₹2.00 lakh. Total expenses increased sharply, driven primarily by finance costs of ₹24.06 lakh and other expenses of ₹19.52 lakh.

Key Board Resolutions

The board meeting held on September 3, 2026, transacted several key businesses:

• Approved the draft Board’s Report and annexures for FY26.
• Scheduled the 35th AGM for September 30, 2026, at 12:15 pm via video conferencing.
• Set the register closure period from September 24 to September 30, 2026.
• Appointed Agarwal Anupriya & Associates as the scrutinizer for the AGM voting process.

Director Changes

Radha Kumari was appointed as an additional non-executive independent director effective September 3, 2026. Her appointment is subject to shareholder approval at the upcoming AGM. She holds a bachelor’s degree in Commerce and has experience in management and administration.

Mrs. Mamta Bhansali tendered her resignation as a non-executive independent director with immediate effect. Her departure follows "unavoidable circumstances," according to the filing.

Borrowing and Investment Limits

The board sought shareholder approval for:

• Borrowing limits under Section 180(1)(c) of the Companies Act, 2013.
• Overall limits for loans, guarantees, securities, and investments under Section 186 of the Act.