Sayaji Hotels (Indore) Limited has accepted the resignation of Aaditya Kasera as its Company Secretary and Compliance Officer, effective August 29, 2026. The company disclosed the personnel change in a filing with the Bombay Stock Exchange (BSE) on July 30, 2026, confirming that Kasera will step down to pursue other career opportunities and professional growth.

The resignation was formally tendered by Kasera via a letter dated July 29, 2026. In his notice, Kasera confirmed that there are no material reasons for his resignation beyond those stated. He expressed gratitude to the Board of Directors and colleagues for their support during his tenure. The company’s Managing Director, Raooof Razak Dhanani, signed the disclosure submitted to the exchange.

The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing also referenced SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. Pursuant to sub-para 7C of Para A of Part A of Schedule III of the SEBI Listing Regulations, the company enclosed Kasera’s resignation letter detailing the reasons for his exit.

Resignation Details

Kasera’s departure marks a change in the company’s compliance leadership. The filing did not disclose any immediate successor or interim arrangement for the role. The company is headquartered in Indore, Madhya Pradesh, and operates under the CIN L55209MP2018PLC076125.

Sayaji Hotels (Indore) published its unaudited standalone financial results for the quarter ended June 30, 2026, in Financial Express and Choutha Sansar on July 29, 2026. The company reported a net profit of ₹157.99 lakh, down from ₹178.56 lakh in the same period of the previous year. Revenue from operations rose to ₹2,652.10 lakh from ₹2,375.94 lakh, reflecting growth in core hoteliering activities despite margin pressure from rising employee benefit expenses.

The Board of Directors approved the unaudited financial results on July 28, 2026, following a review by the Audit Committee. Statutory auditors K.L. Vyas & Company issued a limited review report in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was signed by Chairman Thottapully Narayanan Unni. Company Secretary Aaditya Kasera submitted the newspaper publication notice to BSE Limited under Regulation 47 of the SEBI (LODR) Regulations, 2015.

Financial Performance

Revenue from operations increased by ₹276.16 lakh year-on-year. Other income declined slightly to ₹21.81 lakh from ₹25.91 lakh. Total income for the quarter reached ₹2,673.91 lakh, up from ₹2,401.85 lakh. Expenses rose more sharply, with total expenses hitting ₹2,472.17 lakh against ₹2,157.13 lakh in the prior year quarter. Earnings per share stood at ₹5.19, down from ₹5.86 in the prior year quarter.

Food and beverage consumed expenses rose to ₹458.15 lakh from ₹402.52 lakh. Finance costs remained relatively stable at ₹145.66 lakh. Depreciation and amortization decreased slightly to ₹150.08 lakh from ₹159.93 lakh. Equity share capital remained unchanged at ₹304.66 lakh.

What the Numbers Show

The divergence between revenue growth and profit decline highlights margin pressure from rising personnel and operational costs. While revenue grew by approximately 11.6%, employee benefit expenses surged by over 25%, indicating potential wage inflation or headcount expansion. This cost structure shift eroded the operating leverage that typically accompanies top-line growth in the hospitality sector, resulting in a lower pre-tax profit despite higher sales volumes.

Key Developments

The company continues to face litigation regarding the leasehold land of its Indore hotel. The Indore Development Authority cancelled the lease in December 2017, and while the High Court granted a stay on eviction proceedings, the matter remains under judicial review. The company has applied for compounding of alleged lease violations under rules amended in April 2021, with an order awaited from the IDA. Additionally, stamp duty related to the demerger of the Indore hotel from Sayaji Hotels Limited has not been provided for, pending mutation of property records.