Polo Queen accepts Aspi Katgara resignation as director

Polo Queen Industrial and Fintech Limited has accepted the resignation of Aspi Nariman Katgara from the position of Non-Executive Non-Independent Director. The departure is effective from the close of business hours on August 19, 2026.

Katgara cited advancing age and his desire to retire from active responsibilities as the reasons for stepping down. In his resignation letter, he thanked the directors and management team for their cooperation during his tenure.

Regulatory Disclosure

The company made the disclosure pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was sent to the listing departments of BSE Limited and Metropolitan Stock Exchange of India Limited.

Prabhas Jiwanram Sanghai, Executive Director and CFO of Polo Queen, signed the communication. The filing included Annexure A detailing the particulars of the resignation.

Key Details

Particulars	Details
Director Name	Aspi Nariman Katgara
DIN	06946494
Position	Non-Executive Non-Independent Director
Effective Date	August 19, 2026
Reason	Advancing age and retirement

The company confirmed that no further details regarding relationships or brief profiles were applicable for this cessation event.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.88%	+0.97%	+61.77%	-48.85%	-70.73%	+991.23%

Polo Queen Industrial and Fintech Limited reported a significant contraction in both revenue and profit for the quarter ended June 30, 2026, reflecting broader operational headwinds. The Mumbai-based company’s standalone net profit after tax dropped 60.8% year-on-year to ₹21.87 lakh, down from ₹56.04 lakh in Q1FY26. Total income from operations also declined 31.6% to ₹1,177.54 lakh, compared to ₹1,721.99 lakh in the same period last year.

The results were approved by the Board of Directors in a meeting held on August 10, 2026, and reviewed by the Audit Committee. The financial statements were prepared in accordance with Indian Accounting Standards (IndAS) and filed with stock exchanges under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Statutory Auditors of the company carried out a limited review of the unaudited results.

Financial Performance Overview

The decline in profitability was mirrored across both standalone and consolidated figures. Consolidated net profit after tax fell 39.8% to ₹43.14 lakh from ₹71.66 lakh in Q1FY25. Consolidated total income from operations decreased 30.4% to ₹1,206.78 lakh.

Particulars	Standalone Q1FY27	Standalone Q1FY26	Consolidated Q1FY27	Consolidated Q1FY26
Total Income from Operations (₹ Lakh)	1,177.54	1,721.99	1,206.78	1,742.94
Net Profit Before Tax (₹ Lakh)	30.30	75.73	59.04	95.69
Net Profit After Tax (₹ Lakh)	21.87	56.04	43.14	71.66
Basic EPS (₹)	0.01	0.02	0.01	0.02

Earnings per share (EPS) on a standalone basis stood at ₹0.01 per share, down from ₹0.02 in the previous year. The diluted EPS remained unchanged at ₹0.01. Equity share capital remained stable at ₹6,715.00 lakh for both standalone and consolidated entities.

What the Numbers Show

The simultaneous decline in revenue and profit margins indicates that the cost savings or operational efficiencies were insufficient to offset the drop in top-line growth. With net profit before tax falling from ₹75.73 lakh to ₹30.30 lakh standalone, the effective tax rate appears to have increased proportionally, suggesting no significant tax benefits were utilized to cushion the blow. The contraction in consolidated income suggests that subsidiaries or associate companies also faced similar demand-side pressures during the quarter.