Suvidha Infraestate Corporation has appointed Haresh Jagdishbhai Assanani as Chief Financial Officer (CFO), effective July 24, 2026, replacing Abhijeet A. Goswami who resigned from the role due to pre-occupation and personal commitments. Goswami continues in his capacity as a Non-Executive Director. Simultaneously, the Board noted the resignation of Independent Director Hemang S. Yagnesh, effective July 24, 2026, citing pre-occupation elsewhere. The company confirmed that its independent director requirements remain fulfilled without immediate replacement, avoiding regulatory urgency for a new appointment.

The changes were approved during a Board meeting held on July 24, 2026, which also convened the 34th Annual General Meeting (AGM) for September 19, 2026. The AGM will be conducted via Video Conferencing/Other Audio Visual Means (OAVM) in compliance with the Companies Act, 2013, MCA Circular No. 03/2025 dated September 22, 2025, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Shareholders will approve the appointment of Secretarial Auditors during this meeting.

Key Appointments and Resignations

The Board acted on recommendations from the Nomination and Remuneration Committee (NRC) and the Audit Committee. Haresh J. Assanani, who holds CA Intermediate and CFA Level 1 credentials with over 15 years of experience in financial strategy, assumed the CFO role immediately. Additionally, the Board approved the engagement of M/s. Kashyap R. Mehta & Partners, Practising Company Secretaries, as Secretarial Auditors for a term of five consecutive years, spanning financial years 2026-27 to 2030-31, subject to shareholder approval at the AGM.

E-Voting Schedule for AGM

The company has enabled remote e-voting for all resolutions set forth in the notice of the 34th AGM. The voting window opens on September 16, 2026, and closes on September 18, 2026. Shareholders must hold shares on the cut-off date of September 12, 2026, to be eligible to vote. E-voting systems during the AGM itself will remain active for 15 minutes after the conclusion of the meeting.

Committee Reconstitution

Following the departures and appointments, the Board reconstituted its statutory committees effective July 24, 2026. Ms. Parul K. Gajjar serves as Chairperson for the Audit, Nomination & Remuneration, and Stakeholders Relationship Committees. Mr. Dharmendra Champaneri is a member across all three committees. Mr. Kishore K. Goswami, Managing Director, serves as a member of the Audit and Stakeholders Relationship Committees, while Mr. Abhijeet A. Goswami joins the Nomination & Remuneration Committee as a member.

What the Numbers Show

The simultaneous resignation of the CFO and an Independent Director, coupled with the immediate appointment of a new CFO, indicates a targeted leadership refresh rather than a broader governance crisis. The retention of Abhijeet A. Goswami as a Non-Executive Director suggests continuity in strategic oversight despite his exit from day-to-day financial operations. The company’s confirmation that independent director quotas remain met avoids the regulatory urgency typically associated with such vacancies, allowing for a measured approach to any future board composition adjustments.

Suvidha Infraestate Corporation Limited has announced its standalone audited financial results for the financial year ended March 31, 2026. The board of directors approved the results during a meeting held on May 25, 2026.

Financial Performance for FY26

The company reported a net loss of ₹7.85 lakh for the full year, a widening from the net loss of ₹3.04 lakh recorded in the previous fiscal year. Revenue from operations for FY26 stood at ₹7.95 lakh, a sharp decline from the ₹19.18 lakh reported in the corresponding period last year. Total income for the year was ₹7.95 lakh, down from ₹19.18 lakh in FY25.

Total expenses for the year increased to ₹15.80 lakh from ₹21.88 lakh in the prior year. The company reported negative reserves of ₹1,083.31 lakh as of March 31, 2026, compared to negative reserves of ₹1,075.46 lakh in the previous year.

Quarterly Results

For the quarter ended March 31, 2026, suvidha infraestate corporation posted a net profit of ₹1.46 lakh. This is a decrease from the net profit of ₹6.25 lakh reported in the same quarter of the previous year. Revenue from operations for the quarter was ₹7.95 lakh, down from ₹19.18 lakh in the corresponding quarter of FY25. Total expenses for the quarter stood at ₹6.49 lakh.

Key Financial Metrics

The following table summarizes the company's financial performance for the year and quarter ended March 31, 2026:

Board Decisions

In addition to the financial results, the board appointed M/s. Kashyap R. Mehta & Partners, Company Secretaries, as the Secretarial Auditors for the financial year 2025-26. This appointment fills a casual vacancy caused by the resignation of the previous auditor, M/s. Nishant Pandya & Associates. The new auditors will hold office until the conclusion of the upcoming Annual General Meeting.

The statutory auditors, M/s. J M Parikh & Associates, issued an unmodified opinion on the audited financial results for the year ended March 31, 2026.