Starcom Information Technology has appointed Mr. Kalyan Kumar Vattipalli as an Independent Director following the conclusion of a postal ballot process on June 7, 2026. The resolution to appoint Mr. Vattipalli was passed as a special resolution, securing 99.14% of the total valid votes cast during the remote e-voting period. This appointment strengthens the company's governance structure as it moves forward with its strategic objectives.

The remote e-voting process commenced on May 9, 2026, at 9:00 A.M. IST and concluded on June 7, 2026, at 5:00 P.M. IST. The voting was conducted pursuant to Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the provisions of the Companies Act, 2013. National Securities Depository Limited (NSDL) was appointed as the service provider to facilitate the electronic voting facility for the shareholders.

Voting Results Summary

The scrutinizer's report, prepared by Nikunj Jain of M/s. Jain Nikunj & Co, Chartered Accountants, confirmed the outcome of the postal ballot. The report detailed the votes cast in favour and against the resolution, with no invalid votes recorded. The votes were unblocked on June 8, 2026, in the presence of witnesses not employed by the company.

Appointment Details

Mr. Kalyan Kumar Vattipalli (DIN: 08407618) has been appointed as the Independent Director of the company. The resolution received approval from 12 members voting in favour, while one member voted against it. The total number of valid votes cast during the e-voting process was 34,25,802. The scrutinizer certified that the results were based on reports generated from the e-voting systems provided by NSDL.

Starcom Information Technology Limited reported a widened net loss of ₹619.64 crore for the financial year ended March 31, 2026, compared to a loss of ₹499.65 crore in the previous year. Revenue from operations declined to ₹179.85 crore from ₹297.35 crore in FY25. The company's Board approved the audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 30, 2026.

The statutory auditors, C A S & Co., issued a qualified opinion on the financial results. Key qualifications include overdue statutory dues totaling ₹1,629.08 lakh, unpaid rent of ₹660.81 lakh for premises owned by a promoter, and uncertainty regarding the recoverability of intangible assets under development valued at ₹2,431.02 lakh. Additionally, the auditors highlighted a material uncertainty related to the company's ability to continue as a going concern due to eroded net worth and current liabilities exceeding current assets.

Financial Performance

Assets and Liabilities

The company's total assets stood at ₹2,755.70 lakh as of March 31, 2026, down from ₹2,925.18 lakh in the previous year. Total equity was reported as a negative balance of ₹3,004.43 lakh, indicating a fully eroded net worth. Current liabilities of ₹5,109.07 lakh significantly exceeded current assets of ₹248.78 lakh.

The financial results were submitted to BSE Limited pursuant to Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.