Travel Food Services announced the resignation of Vikas Kapoor from his roles as Chief Financial Officer and Whole-time Director on October 7, 2026. The departure marks a significant leadership change for the company.

Leadership change at Travel Food Services

Vikas Kapoor tendered his resignation via email on October 7, 2026, citing personal career aspirations. He served as both the Whole-time Director and the Chief Financial Officer, holding the status of Key Managerial Personnel. The company has acknowledged his contributions to the business but has not yet disclosed the specific timeline for appointing a successor or his final working date.

The CFO plays a central role in overseeing financial operations, reporting, and strategic planning. The exit of a senior finance executive who also holds a directorship is a corporate development that stakeholders typically monitor closely for potential impacts on governance and financial strategy.

Disclosure details

The resignation was intimated to the stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company stated that it would make further disclosures regarding Mr. Kapoor's last working date in due course. No other details regarding the circumstances of the exit were provided in the initial filing.

Travel Food Services shareholders overwhelmingly approved all three ordinary resolutions at its 19th Annual General Meeting held on September 16, 2026. The vote confirmed the final dividend of ₹10.25 per equity share for FY26 and the re-appointment of director Mr. Vikas Vinod Kapoor.

The meeting was conducted via video conferencing. Shareholders representing 126,485,513 votes cast ballots, accounting for 96.03% of the total outstanding shares of 131,710,153. The high participation rate underscores strong shareholder engagement in the company’s governance processes.

Voting Results

All resolutions were passed with near-unanimous support. Promoter and Public Institution shareholders voted entirely in favour of every agenda item. Minimal opposition came from public non-institutional shareholders.

The dividend resolution received the highest level of support, with only 16 votes cast against it. The re-appointment of Mr. Kapoor saw slightly higher dissent, with 221 votes against, though this still represented less than 0.01% of total votes polled.

Key Resolutions

The board proposed three ordinary resolutions for shareholder approval:

• Adoption of audited standalone and consolidated financial statements for FY26
• Declaration of final dividend of ₹10.25 per equity share of face value ₹1 each
• Re-appointment of Mr. Vikas Vinod Kapoor as director upon retirement by rotation

Management Address

Mr. Varun Kapur, Managing Director and Chief Executive Officer, addressed members on the company’s operational highlights and financial performance for FY25-26. He outlined growth expectations in the Indian aviation, airport travel QSR, and lounge sectors.

Mr. Ashwani Puri, Chairman of the Board, chaired the proceedings. All directors attended via video conferencing. The statutory auditors, M/s. B S R & Co. LLP, and secretarial auditors, M/s. Krishna Rathi and Associates, were present to oversee compliance.

Voting Process

Remote e-voting was facilitated through National Securities Depository Limited (NSDL) from September 13 to September 15, 2026. Members who had not voted remotely were given an additional 15 minutes post-meeting to cast their votes electronically.

The AGM commenced at 11:00 am and concluded at 12:26 pm (IST). The scrutinizer’s report and voting results have been submitted to stock exchanges within prescribed timelines.