Ghanshyam Dass has resigned as Chairman and Non-Executive Non-Independent Director of String Metaverse Limited effective May 28, 2026, due to personal reasons. The resignation, communicated via email on the same date, marks a significant change in the company's board leadership. String Metaverse Limited, formerly known as Bio Green Papers Limited, disclosed this development to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company confirmed that the resignation was tendered by Mr. Dass (DIN: 01807011) and is effective immediately. The disclosure was filed by M. Chowda Reddy, Company Secretary & Compliance Officer of String Metaverse Limited. The regulatory filing outlined the specific details of the cessation of the director's role, adhering to Part A of Para A of Schedule III of the SEBI regulations.

In his resignation email, Mr. Dass expressed regret over the decision, citing serious personal grounds. He thanked the board members and colleagues for their support during his tenure as Chairman. He also expressed confidence in the management team's ability to build String Metaverse into a promising entity in the Blockchain, AI, and Web 3 sectors.

The following table summarizes the key details of the director's cessation:

String Metaverse Limited has requested the exchange to take the resignation on record. The company is headquartered in Hyderabad, Telangana, and operates in the emerging technology space. The board will now need to consider the appointment of a new chairman to fill the vacancy created by Mr. Dass's departure.

String Metaverse Limited reported a 163.7% year-on-year surge in revenue to ₹1,076.55 crore for the financial year ended March 31, 2026, driven by operational leverage and ecosystem expansion. The company's profit after tax (PAT) jumped 190.8% to ₹102.53 crore, while EBITDA rose 189.5% to ₹122.88 crore. The Board of Directors approved the audited standalone and consolidated financial results on May 25, 2026, and a revised investor presentation was filed on May 26, 2026, under Regulation 30 of the SEBI (LODR) Regulations, 2015.

The standalone financial results for the quarter ended March 31, 2026, showed a net profit of ₹210.20 lakh on total income from operations of ₹999.16 lakh. For the full financial year, standalone net profit stood at ₹305.62 lakh on a total income of ₹2007.10 lakh. The paid-up equity share capital of the company, with a face value of ₹10 each, was reported at ₹11643.23 lakh for the period ended March 31, 2026.

Consolidated Financial Performance

The company's consolidated earnings per share (EPS) on a basic and diluted basis was ₹0.30 for the quarter ended March 31, 2026. For the financial year, the basic EPS was reported at ₹0.89, while the diluted EPS stood at ₹0.88. The total comprehensive income for the period increased to ₹12098.87 lakh for the year ended March 31, 2026, up from ₹3710.27 lakh in the prior year.

Strategic Milestones

String Metaverse achieved several key operational milestones in FY26, including crossing 5 million users across its ecosystem. The company reported that DeFi and tokenized asset volumes surpassed $220 million, while derivatives trading volume reached $4 billion on centralized exchanges. Strategic initiatives included the launch of Phase 1 of the Bills on Chain partnership with Hedera Blockchain and the introduction of the String Pay X virtual crypto-backed debit card in partnership with Visa. The company is also planning a 100 MW AI Data Center to support agentic AI infrastructure.

The financial results were reviewed by the Audit Committee and subsequently approved by the Board. The detailed results and the revised investor presentation are available on the Bombay Stock Exchange website and the company's official website.