Vashu Bhagnani Industries Limited appointed M/s Rahul Pramod & Co., Chartered Accountants, as its statutory auditor to fill a casual vacancy effective August 30, 2026. The appointment was approved by the Board of Directors during a meeting held on the same date.

The firm will hold office until the conclusion of the company’s 39th Annual General Meeting (AGM). This interim appointment follows the resignation of the previous statutory auditor, M/s D S M R & Co., Chartered Accountants, which became effective on August 13, 2026.

Five-Year Term Recommendation

Based on the Audit Committee’s recommendation, the Board has further proposed appointing M/s Rahul Pramod & Co. for a first term of five consecutive years. This term would commence from the conclusion of the 39th AGM and continue until the conclusion of the 44th AGM. This long-term appointment is subject to approval by the members at the ensuing AGM.

M/s Rahul Pramod & Co. (FRN: 100149W) was established in 1986 and offers expertise across taxation, auditing, assurance, advisory, and compliance. The firm’s registered office is located in Mumbai.

Revised Investment Structure

The board meeting also covered routine business activities and confirmed a revision to the transaction structure for a UK investment from an operational and administrative perspective. The direct investment by Vashu Bhagnani Industries in Puja Casa A Limited, UK, will not proceed as initially proposed.

Instead, the investment will be executed by M/s Modern Production FZ LLC, UAE (MPF), a wholly-owned subsidiary of the company. Upon completion, Puja Casa A Limited will become a fellow subsidiary rather than a wholly-owned subsidiary. The company previously proposed investing up to GBP 4.4 million in this entity.

Auditor and Director Changes

Mr. Vashu Lilaram Bhagnani (DIN: 00043481), who retires by rotation, was recommended for re-appointment as a director. He is eligible and has offered himself for re-appointment, subject to approval at the ensuing AGM.

AGM Details

The 39th Annual General Meeting is scheduled for Saturday, September 26, 2026, at 3:00 pm through Video Conferencing or Other Audio-Visual Means. The Register of Members and Share Transfer Books will remain closed from September 20, 2026, to September 26, 2026, inclusive.

B. K. Pradhan & Associates, Company Secretaries, has been appointed as the scrutinizer for the remote e-voting process as well as the e-voting during the AGM.

Members can cast votes electronically on all resolutions set forth in the notice.

Vashu Bhagnani Industries Limited confirmed the public dissemination of its unaudited financial results for the quarter ended June 30, 2026, by submitting extracts of newspaper advertisements to BSE Limited on August 12, 2026. This procedural step finalizes the disclosure process for the quarter, in which the company reported a standalone net profit of ₹18.64 lakh, a 583% year-on-year increase driven primarily by a one-time non-operating gain of ₹246.89 lakh from the write-back of long-standing sundry credit balances.

The advertisements, mandated under Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, were published in Business Standard (English) and Pratahkal (Marathi). The submission was signed by Shweta Ramesh Soni, Company Secretary and Compliance Officer, affirming that the financial results had been made available to the investing public through widely circulated media outlets as required by listing norms.

Financial Context and Performance

The Q1FY26 results, originally approved by the Board of Directors on August 11, 2026, showed a divergence between standalone and consolidated performance. While standalone revenue from operations declined to ₹16.72 lakh from ₹25.65 lakh in Q1FY25, consolidated revenue from operations increased significantly to ₹252.09 lakh from ₹145.88 lakh year-on-year. Consolidated net profit attributable to owners stood at ₹35.86 lakh, compared to ₹95.05 lakh in the previous year’s corresponding period.

Strategic Developments

Beyond the quarterly financials, the company highlighted strategic investments during the period. Vashu Bhagnani Industries contributed ₹10.09 crore towards the subscription of 4,419 shares of its foreign subsidiary, Modern Productions FZ LLC UAE, at a premium of AED 781 per share. This move underscores the group’s focus on expanding international production capabilities. Additionally, management noted that under the Code on Social Security, 2020, implemented nationwide on November 21, 2025, the company is not legally obliged to create a provision for gratuity as its headcount remains below the statutory limit of 10 employees.

What the Numbers Show

The publication of these results completes the regulatory cycle for Q1FY26. The significant jump in standalone net profit was not operational but rather due to the reversal of old liabilities, a non-recurring event that investors should contextualize against the modest decline in standalone operating revenue. However, the consolidated figures suggest stronger underlying business momentum at the group level, with operational revenue nearly doubling year-on-year. The absence of large bad debt provisions in the current quarter, compared to prior periods, further improved margins, indicating a cleaner balance sheet going forward.