STL Networks Limited has accepted the resignation of Meenal Bansal, who served as its Company Secretary and Compliance Officer. Bansal tendered her resignation on July 30, 2026, effective from the close of business hours on September 08, 2026. The company disclosed the change in key managerial personnel to the Bombay Stock Exchange and National Stock Exchange of India Limited, noting that the departure is due to personal reasons.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with the SEBI Master Circular HO/49/14/14(7)2025- CFD-POD2/I/3762/2026 dated January 30, 2026. Gopal Rastogi, Chief Financial Officer of STL Networks Limited, signed the intimation submitted to the exchanges.

Resignation Details

Bansal held the designation of Key Managerial Personnel at the company. Her resignation letter, addressed to Chandrasekhara Battula, stated that she was stepping down to pursue career opportunities outside the organization. She expressed gratitude to the Board of Directors, senior management, and colleagues for their support during her tenure.

The company confirmed that the disclosure would also be hosted on its website. No immediate replacement has been announced in the filing.

STL Networks reported a consolidated net loss of ₹21.88 crore for the quarter ended June 30, 2026, narrowing from the ₹22.42 crore loss recorded in the corresponding quarter of the previous year. Standalone results showed a net loss of ₹12.32 crore, compared to a net profit of ₹2.06 crore in Q1FY26. The divergence between standalone profitability trends and the prior year is attributed to increased finance costs and lower other income, while consolidated figures benefited from foreign exchange translation gains. The Board of Directors approved these unaudited financial results on July 28, 2026, alongside key administrative changes including senior management re-designations and capital raising activities.

The financial filing was conducted pursuant to Regulations 30, 33, 52, and 54 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Price Waterhouse Chartered Accountants LLP served as the statutory auditor, issuing an unmodified limited review conclusion on both standalone and consolidated statements. The Company confirmed no deviation in the utilization of proceeds from its preferential issue of warrants, with CARE Ratings Limited acting as the monitoring agency. Additionally, the Board appointed Mr. Kiran Naik as Cost Auditor for the financial year 2026-27.

Financial Performance Overview

Consolidated revenue from operations declined to ₹176.15 crore in Q1FY27 from ₹189.95 crore in Q1FY26. Standalone revenue also contracted to ₹147.27 crore from ₹167.54 crore. Despite the revenue decline, consolidated EBITDA improved to ₹9.47 crore from ₹8.25 crore, driven by cost efficiencies. However, finance costs remained elevated at ₹35.69 crore (consolidated) and ₹34.34 crore (standalone), significantly impacting the bottom line. Other income saw a sharp decline, particularly in standalone results where it fell to ₹14.47 crore from ₹27.11 crore, largely due to reduced foreign currency exchange gains.

What the Numbers Show

A critical observation from the filing is the significant reliance on non-operating items to mitigate losses. In the standalone segment, foreign currency exchange gains contributed ₹8.91 crore to other income, whereas this figure was ₹19.80 crore in the prior year. This volatility in forex gains highlights exposure to currency fluctuations which currently acts as a buffer against operational deficits. Furthermore, the consolidated net worth turned negative at ₹(42.38) crore, down from ₹54.27 crore in the prior year, signaling continued balance sheet pressure despite the narrowing operational loss. The debt equity ratio at the consolidated level stood at 1.03, up from 0.94 in Q1FY26, indicating increased leverage relative to equity.

Corporate Actions and Disclosures

The Board approved the change in designation for two Senior Management Personnel effective July 28, 2026. Mr. Arun Goyal was redesignated from Fiber BU- Head to Head Strategy & Business Development. Mr. B Lakshmiraman moved from Interim Head Technology to Head Technology. These changes aim to streamline strategic oversight and technology leadership within the organization.

In terms of capital structure, the Company issued 45,000,000 convertible share warrants to its promoter shareholder, Twinstar Overseas Limited, at ₹24 each. The Company received ₹27 crore towards this allotment during the quarter, with the balance receivable upon exercise. Each warrant is convertible into one equity share of ₹2 face value. The paid-up equity share capital increased marginally to ₹97.62 crore following the exercise of 44,996 employee stock options.

Regulatory and Compliance Updates

The Company disclosed that contract assets and trade receivables include ₹155.74 crore and ₹151.41 crore respectively, related to disputed projects under arbitration. Management maintains confidence in their recoverability based on legal opinions and project status. Additionally, ₹708.04 crore of receivables pertain to slow-moving projects where billing depends on regulatory approvals held by customers. The Company has maintained a minimum security cover of 1.20x for its Non-Convertible Debentures as required by the debenture trust deed. The 5th Annual General Meeting is scheduled for September 8, 2026.