SPA Capital Services Ltd has accepted the resignation of Ms. Vaishnavi Sharma as Company Secretary and Compliance Officer, effective August 27, 2026.

The company disclosed the change in a filing to BSE Limited on September 2, 2026. Ms. Sharma stepped down due to other professional commitments.

Regulatory Disclosure

The intimation was issued pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Sandeep Parwal, Chairman cum Managing Director, signed the communication confirming the cessation date and reason for the change.

SPA Capital Services Limited reported a net profit of ₹0.834 crore for the financial year ended March 31, 2026, a 69% increase from ₹0.494 crore in the previous year. Revenue from operations rose to ₹38.616 crore from ₹32.940 crore in FY25. The Board of Directors approved the audited financial results for the quarter and year ended March 31, 2026 in a meeting held on May 26, 2026.

The statutory auditors, M/s. DHANA & Associates, issued a qualified opinion on the standalone financial results. The qualification arises because the company did not provide interest expenses of ₹7,706 (in thousands) on outstanding loans and did not make a provision for loss assets amounting to ₹31,420 (in thousands). Adjusting for these qualifications, the net profit for the year would be ₹0.063 crore, and earnings per share would drop to ₹0.206.

Financial Performance

The company's total income for FY26 stood at ₹38.621 crore, up from ₹32.940 crore in the previous year. Total expenses for the year were ₹37.560 crore compared to ₹31.929 crore in FY25. For the quarter ended March 31, 2026, the company reported a net profit of ₹0.438 crore on a total income of ₹10.956 crore.

Audit Qualifications

The auditors identified two key departures from accounting standards and NBFC guidelines. First, the management did not accrue interest on loans taken, which understated expenses and liabilities. Second, the company failed to classify non-performing loans as loss assets and did not provide for them, overstating profit and loan assets. Management stated that interest was not provided due to ongoing disputes and operational issues with borrowers, expecting principal recovery.