Sunkari Venkateswara Rao has ceased to be an Additional Director of accel limited with effect from the close of business hours on July 24, 2026. The departure stems from the fact that his appointment, which began on April 27, 2026, was not ratified by the company’s members within the statutory three-month window required under corporate governance regulations. Consequently, Rao tendered his resignation to the Board, citing the inability to continue in the position without shareholder approval.

The company notified BSE Limited of the cessation on July 24, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This disclosure was made in compliance with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. Vishnu S, Company Secretary of Accel Limited, signed the intimation letter addressed to the Department of Corporate Services at Phiroze Jeejeebhoy Towers, Mumbai.

Rao was initially appointed as an Additional Director on April 27, 2026. Under Indian corporate law, such appointments are interim measures that require formal ratification by shareholders at a general meeting within three months of the initial appointment. As this ratification did not occur, the position became untenable, leading to his voluntary resignation. There were no other reasons cited for the change in directorship, such as removal, death, or conflict of interest.

Key Details of Cessation

In his resignation letter dated July 24, 2026, addressed to the Board of Directors at Accel Limited’s Chennai office, Rao expressed gratitude for the support received from the management and stakeholders during his tenure. He requested the Board to file the necessary intimations with regulatory authorities regarding his exit.

The Board accepted the resignation and proceeded with the mandatory disclosures. No new director was named to replace Rao in this filing. The cessation is purely procedural, resulting from the lapse in the ratification timeline rather than any operational or strategic disagreement. Accel Limited’s stock code on the BSE is 526237.

Accel Limited reported a consolidated net profit of ₹533.23 lakh for the financial year ended March 31, 2026, a significant increase from ₹183.76 lakh in the previous year. Revenue from operations for the year stood at ₹16,432.88 lakh, compared to ₹16,304.53 lakh in FY25. The board of directors approved the audited standalone and consolidated financial results at its meeting held on May 27, 2026, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015.

The standalone net profit for the year was ₹543.66 lakh, up from ₹178.77 lakh in the prior year. The company recognized an exceptional item of ₹122.25 lakh during the year, attributed to the incremental financial impact of past service costs for gratuity and compensated absences due to the New Labour Codes notified by the Government of India. This liability arose from the change in the definition of "wages" under the new framework.

Financial Performance

The company's earnings per share (EPS) on a consolidated basis for FY26 was ₹0.93, compared to ₹0.32 in the previous year. Total comprehensive income for the year increased to ₹586.25 lakh from ₹203.44 lakh in FY25. The board also noted the merger of Accel Media Ventures Limited with the company, effective from April 1, 2024, following an NCLT order dated March 10, 2026.

Auditor's Report

The statutory auditors, K.S. Aiyar & Co., issued a qualified opinion on the standalone and consolidated financial results. The qualification relates to the carrying value of an investment in Secureinteli Technologies Private Limited, an associate company. The investment is carried at ₹487.79 lakh, while an independent valuation report dated February 28, 2025, assessed the fair value at ₹172.82 lakh. The management believes no impairment is necessary based on the associate's growth prospects, a view the auditors could not verify due to insufficient evidence.

The company's total assets as per the consolidated balance sheet stood at ₹17,667.10 lakh as of March 31, 2026, while total liabilities were ₹10,837.36 lakh. The trading window for insiders, which was closed from April 1, 2026, will reopen on June 1, 2026.