Thakral Services (India) Limited shareholders approved the re-appointment of Nirmala Sridhar as Managing Director for a one-year term. The resolution received 100% support from valid votes cast, totaling 1,02,46,547 votes in favour and 35 against.

The approval was granted at the company’s 43rd Annual General Meeting held on September 21, 2026. The meeting was conducted through Video Conferencing or Other Audio Visual Means. Remote e-voting was open from September 18 to September 20, 2026.

Appointment Details

The Nomination and Remuneration Committee and the Board of Directors recommended the re-appointment. Mrs. Sridhar will hold office until September 30, 2027.

Other Resolutions Passed

Shareholders also approved the adoption of audited financial statements for FY26 and the re-appointment of two directors retiring by rotation. All resolutions passed with unanimous support among valid votes cast.

Profile and Disclosure

Mrs. Sridhar is 66 years old and brings approximately 39 years of experience in the banking industry. She has served as Managing Director since October 1, 2021. Her educational qualifications include a B.Sc (Hons), M.Sc (Ed) in Life Sciences, and an MBA in HR.

The filing confirms that Mrs. Sridhar is not related to any other directors of the company. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Thakral Services reported a significantly narrower net loss of ₹3.15 lakh for FY26, down from ₹25.31 lakh in the prior year. The company, which sold its electronic security business in FY24, is currently exploring new business avenues following a promoter holding restructuring.

Financial Performance

Total income for Thakral Services rose 6% year-on-year to ₹108.73 lakh, driven by a 44% increase in revenue from operations to ₹74.07 lakh. Service and installation charges contributed ₹19.07 lakh, while annual maintenance contract (AMC) income accounted for ₹55.00 lakh.

Despite the revenue growth, other income declined 32% to ₹34.66 lakh from ₹50.98 lakh in FY25. Total expenses fell 12% to ₹111.88 lakh, primarily due to lower miscellaneous income write-backs and reduced legal and consultancy fees. The company recorded no depreciation or finance costs during the period.

Balance Sheet & Auditor Qualifications

As of March 31, 2026, the company held total assets of ₹119.25 lakh, comprising cash and cash equivalents of ₹18.03 lakh and trade receivables of ₹30.71 lakh. Non-current borrowings stood at ₹811.35 lakh, representing interest-free loans from related parties. The company’s net worth remains negative at (₹920.82 lakh) due to accumulated losses of ₹1,272.87 lakh.

Statutory auditors K.S. Rao & Co. issued a qualified opinion on the financial statements. The qualification stems from two key issues:

• A recovery order of ₹60.36 lakh from the EPFO, against which the company has obtained an interim stay by depositing ₹10.00 lakh.
• Non-compliance with Ind AS 109 regarding the recognition of interest-free loans at amortised cost, affecting an outstanding amount of ₹811.35 lakh.

The auditors also highlighted a material uncertainty regarding the company’s ability to continue as a going concern, citing fully eroded net worth. However, management noted support letters from shareholders to meet liabilities as needed.

Corporate Actions

The Board recommended the reappointment of Mrs. Nirmala Sridhar as Managing Director for one year, effective October 1, 2026, with a monthly remuneration of ₹1.90 lakh. Directors Mr. Kanwaljeet Singh Bawa and Mr. Chennotha Divakara Prabhu Rajendran are also up for reappointment by rotation. The 43rd Annual General Meeting is scheduled for September 21, 2026.

What the Numbers Show

The divergence between rising operational revenue and falling other income highlights a shift in the company’s earnings mix. While core service revenues grew 44%, the decline in other income—largely driven by the absence of large provision write-backs seen in FY25—suggests that the improved bottom line is increasingly reliant on operational efficiency rather than non-recurring accounting adjustments.