Vapi Enterprise Ltd appointed Sanket Goyal as an Additional Non-Executive Independent Director on July 30, 2026, strengthening its governance structure following the resignation of Himanshu Ruia. The Board approved a five-year term for Mr. Goyal, subject to shareholder approval at the ensuing Annual General Meeting (AGM), while simultaneously reconstituting its key statutory committees to reflect the new composition. This move ensures compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The appointment coincides with the company’s disclosure of Q1FY27 financial results, which showed a net profit decline to ₹35.59 lakh from ₹41.54 lakh in the previous quarter. While operational income remained at ₹0.00 lakh, other operating income fell to ₹57.57 lakh. The Board meeting held on July 30, 2026, addressed both these financial outcomes and critical governance transitions, including the exit of Mr. Ruia due to term completion.

Governance Changes

Mr. Sanket Goyal (DIN: 08716587) was appointed effective July 30, 2026. He holds a Bachelor of Engineering degree in Electronics & Telecommunication and a Master of Management Studies in Finance. The Board confirmed that he meets all independence criteria under the Companies Act, 2013 and SEBI Listing Regulations. His term runs until July 29, 2031, pending AGM ratification scheduled for September 10, 2026.

Concurrently, Mr. Himanshu Ruia resigned as Independent Director, ceasing membership in the Audit Committee, Nomination & Remuneration Committee, and Stakeholders Relationship Committee. His departure was attributed solely to the completion of his tenure, with no other material reasons cited.

Committee Reconstitution

The Board reconstituted its committees effective immediately after the meeting:

Mr. Rajeev Patel serves as a Non-Independent Director, while Mrs. Mamta Gupta and Mr. Sanket Goyal are Independent Directors. Mr. Manoj Patel, who was also re-appointed as Managing Director for a five-year term, serves as an Executive Director.

Financial Context

The governance updates were announced alongside Q1FY27 results reviewed by the Audit Committee. Statutory auditor M I Shah And Co. issued a limited review report highlighting non-compliance with Ind AS 19 regarding employee benefits provisioning. Additionally, the auditor noted the absence of an audit trail feature in the company’s accounting software, violating Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014. Total expenses remained stable at ₹10.08 lakh, with employee benefit expenses rising slightly to ₹6.70 lakh.

Vapi Enterprise Ltd. has closed its trading window for designated insiders from July 1, 2026, until 48 hours after the declaration of its unaudited standalone financial results for the quarter ending June 30, 2026. The restriction is part of the company's compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015, and its internal Code of Conduct to regulate, monitor, and report trading by insiders.

The closure prohibits dealing in the equity shares of the company by directors, promoters, key managerial personnel (KMP), designated employees, and specified connected persons. The trading window will remain shut until the expiry of the 48-hour period following the announcement of the Q1FY26 results.

Compliance and Regulatory Framework

The decision aligns with BSE circular no. LIST/COMP/01/2019-20. The company has stated that the designated persons will be informed of the closure in accordance with the referred Code of Conduct.

The intimation was submitted to BSE Limited on June 23, 2026, by Riddhi Harsh Desai, Company Secretary of Vapi Enterprise Ltd.