String Metaverse Limited has appointed Dr. Sethurathnam Ravi as the Non-Executive, Non-Independent Director and Chairman of the Company effective June 2, 2026, subject to shareholder approval. The Board of Directors also accepted the resignations of Mr. Ghanshyam Das and Mr. Arvind Jadhav from their respective positions. The company communicated these changes to BSE Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Mr. Ghanshyam Das resigned as Chairman & Director (Non-Executive & Non-Independent) effective May 28, 2026, due to personal reasons. Mr. Arvind Jadhav resigned as Independent Director effective June 2, 2026, citing personal and professional reasons. The disclosures regarding these cessations were enclosed as Annexure 1 and Annexure 2 respectively.

Dr. Sethurathnam Ravi (DIN: 00009790) brings over 37 years of experience across banking, NBFCs, and capital markets. He is a Fellow Chartered Accountant with a Doctorate in finance and commerce. His profile indicates he is not related to any other director of the company and is not debarred from holding the office of director by SEBI or any other authority.

The Board also approved the reconstitution of the Nomination and Remuneration Committee effective June 2, 2026. The committee comprises Mr. Sarat Kumar Malik as Chairperson, and Mr. Deenadayal Tripurasetty and Mr. Prathipati Parthasarathi as members.

The following table summarizes the changes in the Board of Directors:

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.