SRM Energy Limited has filed its audited standalone financial results for the quarter and year ended March 31, 2026. The company reported a net profit of Rs 44.25 lakh for the fiscal year, a significant turnaround from the net loss of Rs 37.58 lakh recorded in the previous year. The results were approved by the Board of Directors on May 20, 2026, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

For the quarter ended March 31, 2026, the company reported a net profit of Rs 205.79 lakh, compared to a net loss of Rs 8.70 lakh in the same period last year. Total income for the quarter stood at Rs 223.35 lakh, driven entirely by other income as revenue from operations remained nil. For the full year, total income was Rs 227.12 lakh, while total expenses were Rs 173.99 lakh.

Audit Qualifications and Going Concern

Rajat Associates, Chartered Accountants, issued a qualified opinion on the financial statements. The auditors highlighted that the company has a negative net worth of Rs 366.47 lakh as of March 31, 2026, and its current liabilities exceed its current assets. Consequently, there is material uncertainty regarding the company's ability to continue as a going concern without financial support from the new management.

The auditors also noted the disposal of a wholly-owned subsidiary during the year, resulting in the recognition of a substantial loss of Rs 131 lakh. The company had not previously assessed impairment on this investment under Ind AS 36 and Ind AS 109.

Operational Status

The company stated that it has no active business operations and continues to incur cash losses. However, based on assurances of financial support from the new management following a change in control, the financial statements have been prepared on a going concern basis. The board also approved the notice for a postal ballot to determine shareholder eligibility for voting.

SRM Energy Limited has announced significant leadership appointments following its board meeting held on 26th March, 2026. The board, based on recommendations from the Nomination & Remuneration Committee, approved the appointment of a new Chief Financial Officer and Secretarial Auditors to strengthen the company's governance structure.

Key Management Appointment

The board appointed Mr. Umesh Narpatchand Sanghvi as Chief Financial Officer (KMP) of the company, effective 26th March, 2026. The appointment details are outlined below:

Mr. Sanghvi brings extensive professional exposure in banking and finance, debt and equity fund raising, and wealth management. His dual role as both Managing Director and CFO reflects the company's strategic approach to financial leadership.

Secretarial Auditor Appointment

The board also approved the appointment of M/s HSPN & Associates LLP, Company Secretaries, as the Secretarial Auditors of the company for an extended term:

M/s HSPN & Associates LLP is a corporate law service firm with specialized expertise in multiple areas including Corporate Laws & Procedures, Secretarial Compliance Audit, SEBI Regulations and Listing Regulations, FEMA Compliances, Takeover Regulations, Prohibition of Insider Trading Regulation, and Corporate Restructuring and Mergers/Amalgamations.

Board Meeting Details

The board meeting was conducted on 26th March, 2026 at Motiwala Mansion Ground Floor Forjett Street Mumbai, commencing at 4:00 p.m. and concluding at 5:00 p.m. Both appointments were made in compliance with Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance

The company has submitted the board meeting outcome to the Bombay Stock Exchange Limited, confirming full regulatory compliance. The appointments were made pursuant to SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/015 dated 11th November, 2024. The company confirmed that Mr. Umesh Narpatchand Sanghvi is not debarred from holding the office of Director by any SEBI order or other authority, ensuring full compliance with regulatory requirements.

The appointments strengthen SRM Energy Limited's management structure and governance framework as the company continues its operations in the energy sector.