Saptarishi Agro Industries Limited has re-appointed Rushabh Ravjibhai Patel as its Managing Director for a term of three years, effective from August 11, 2026. The Board of Directors approved the re-appointment on August 7, 2026, citing the expiration of his current tenure on August 10, 2026. This governance move comes as the company navigates operational challenges following a widened net loss in Q1FY26.

The re-appointment is subject to shareholder approval at the ensuing Annual General Meeting. Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company disclosed the details of the appointment to the stock exchanges. Mr. Patel brings 10 years of experience in operations to the role. His re-appointment ensures continuity in leadership during a period where the company is addressing margin pressures in its manufacturing segment.

Governance and Disclosures

The Board’s decision aligns with standard corporate governance practices for director re-appointments. Under the disclosure requirements of SEBI’s Master Circular No. SEBI/ HO/CFD/ PoD2/CIR/P/0155 dated November 11, 2024, the company provided specific details regarding Mr. Patel’s profile and relationships.

The disclosure also highlighted familial relationships within the promoter group. Mr. Rushabh R Patel is related to Shri Ravjibhai N Patel (Father) and Shri Krunal R Patel (Brother). Additionally, he is related to promoter Smt. Indiraben R Patel. The company confirmed that Mr. Patel is not debarred from holding the office of director by any SEBI order or other authority, as per BSE Circular LIST/COMP/14/201819 and NSE Circular NSE/CML/2018/24 dated June 20, 2018.

Operational Context

This leadership continuity follows the announcement of Q1FY26 results, where Saptarishi Agro Industries reported a net loss of ₹128.65 lakh, a significant deterioration from the ₹6.22 lakh loss in Q1FY25. While revenue from operations grew by 67.8% year-on-year to ₹3,023.30 lakh, driven by new trading revenues in Gujarat, total expenses rose more sharply to ₹3,182.02 lakh. The Manufacturing - Gujarat segment incurred a loss of ₹137.96 lakh, highlighting cost structure challenges that the management will need to address under Mr. Patel’s continued leadership.

Saptarishi Agro Industries has appointed M/s. Jayanta & Associates, Chartered Accountants, as its internal auditor for the financial year 2026-2027. The Board of Directors approved the engagement during a meeting held on August 7, 2026, marking a routine compliance step to ensure robust internal financial controls for the upcoming fiscal period.

The appointment aligns with the company’s obligations under Indian securities regulations. Saptarishi Agro Industries disclosed the move pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Additionally, the disclosure adheres to Regulation 30 Para A Part A of Schedule III of the same regulations and SEBI’s Master Circular No. SEBI/ HO/CFD/ PoD2/CIR/P/0155 dated November 11, 2024.

Auditor Profile and Scope

M/s. Jayanta & Associates brings comprehensive experience in accounting, auditing, taxation, and financial management to the role. The firm is proficient in statutory and internal audits, direct and indirect tax compliance, Goods and Services Tax (GST), and financial reporting. Beyond compliance, the firm specializes in advisory services, offering strategic financial solutions to support business growth through effective planning and control.

The firm emphasizes maintaining high standards of ethics and professionalism, aiming to add value through insightful analysis and practical, business-focused advice. This appointment ensures that Saptarishi Agro Industries continues to adhere to rigorous internal audit standards required for listed entities.

Regulatory Disclosures

The company provided specific details regarding the appointment in its filing with the Bombay Stock Exchange (BSE). There are no disclosed relationships between the appointed auditors and the directors of the company, ensuring independence in the audit process.

Khushboo Negi, Company Secretary and Compliance Officer of Saptarishi Agro Industries, signed the intimation letter sent to the General Manager of the Corporate Relationship Department at BSE Ltd. The filing confirms that the appointment is effective for the stated term and complies with all necessary regulatory frameworks.