UVS Hospitality and Services Limited appointed David Machado as its new Chief Financial Officer on October 9, 2026. The move follows the resignation of Deepak Kumbhar from the role due to other professional commitments.

The board also approved the appointment of two new non-executive independent directors: Rupal Pandey and Siddharth Salunke. Both appointments are for a five-year term commencing October 9, 2026, subject to shareholder approval.

Leadership Changes

The company’s board meeting, held on Friday, October 9, 2026, formalized these key governance changes. The appointments were made based on recommendations from the Nomination and Remuneration Committee.

Profile of New Appointees

David Machado brings experience from leading global organizations including ISS and CBRE. He previously served as a Business Controller managing finance functions for blue-chip banking clients such as Standard Chartered Bank and IDFC FIRST Bank. His expertise covers financial controls, compliance, profitability analysis, cost management, cash flow, and budgeting.

Rupal Pandey is a qualified Company Secretary and law professional with extensive experience in secretarial, legal, compliance, and regulatory matters. Her background includes corporate governance, statutory filings, due diligence, and liaising with statutory authorities.

Siddharth Salunke is a legal professional specializing in corporate and commercial laws, regulatory compliance, and legal advisory matters. He possesses knowledge of corporate governance, contractual documentation, and statutory compliances.

Governance Updates

The board took note of declarations of independence from both Pandey and Salunke, confirming they meet the criteria prescribed under the Companies Act, 2013 and SEBI Listing Regulations. Both directors affirmed they are not debarred from holding office by any order of SEBI or other authorities.

Deepak Kumbhar resigned as CFO and Key Managerial Personnel (KMP) effective the same day, citing other professional commitments. The company has completed necessary statutory formalities regarding his cessation.

UVS Hospitality and Services Limited concluded its 36th Annual General Meeting (AGM) on September 30, 2026, with members adopting the audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026. The meeting also addressed the proposed acquisition of Calcio Restaurants Private Limited through a share swap mechanism.

The AGM was conducted via Video Conferencing and Other Audio-Visual Means due to the absence of Chairperson and Managing Director Prathima Madineni, who was unable to attend for health reasons. Executive Director Utkarsh Vartak chaired the proceedings, welcoming members and introducing the directors, statutory auditors, and secretarial auditors present at the virtual meeting.

Key agenda items and resolutions

The members considered and adopted the reports of the Board of Directors and Auditors for FY26. The Statutory Auditor’s report was unmodified, while observations from the Secretarial Auditor were disclosed and addressed in the Annual Report. Both reports were taken as read following member permission.

Two primary items of ordinary business were placed before the shareholders:

1. Adoption of audited standalone and consolidated financial statements for the year ended March 31, 2026.
2. Appointment of Prathima Madineni as a director in place of herself, who retired by rotation and offered herself for re-appointment.

Voting outcomes and shareholder participation

The scrutinizer’s report confirmed that both resolutions were passed with requisite majority. For the adoption of financial statements (Item No. 1), 99.99% of the total votes cast were in favour, with only 0.01% against. Similarly, the re-appointment of Prathima Madineni (Item No. 2) received 99.96% support, with 0.04% opposition.

Voting was conducted through remote e-voting via CDSL from September 27, 2026, to September 29, 2026, and through e-voting during the AGM. The cut-off date for determining voting eligibility was September 23, 2026. Hemang Satra, Proprietor of M/s Hemang Satra & Associates, served as the Scrutinizer.

Strategic developments and future outlook

During the address, the Chairman highlighted key business developments, specifically focusing on the proposed acquisition of Calcio Restaurants Private Limited. This transaction is structured as a share swap involving the preferential allotment of equity shares, signaling a strategic pivot or expansion in the company's operational scope.

The high approval margins indicate strong shareholder confidence in both the historical financial performance and the proposed strategic direction involving the Calcio acquisition.