Western Ministil Ltd has appointed Satish Ramsevak Pandey as its Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective June 22, 2026. The appointment ensures compliance with Section 203 of the Companies Act, 2013, which mandates the designation of specific managerial roles.

The Board of Directors approved the appointment during its meeting held on June 22, 2026, based on the recommendation of the company's Nomination and Remuneration Committee. The meeting commenced at 11:00 A.M. and concluded at 11:25 A.M.

Mr. Pandey brings over two decades of experience to the role. He holds an MBA in Finance and is a graduate in Commerce, having applied his qualifications across diverse roles in the finance industry.

The disclosure regarding the appointment was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the relevant SEBI circular dated November 11, 2024.

Appointment Details

Western Ministil Limited has reported its audited standalone financial results for the fourth quarter and financial year ended March 31, 2026. The company narrowed its net loss for the full year to ₹27.67 lakh, an improvement from the loss of ₹32.23 lakh recorded in the previous year. The Board of Directors approved the results during a meeting held on May 21, 2026.

Financial Performance Overview

For the quarter ended March 31, 2026, the company reported a net loss of ₹10.56 lakh, widening from a loss of ₹8.62 lakh in the corresponding period of the previous year. Total income from operations for the full year stood at ₹0.08 lakh, while total expenses for the year were ₹27.67 lakh compared to ₹32.31 lakh in FY25.

Auditor's Observations

The Statutory Auditors, Maark & Associates, issued an unmodified opinion on the financial results. However, the report included an emphasis of matter regarding loans availed from related parties. The auditors noted that the company has not made provision for interest on such borrowings since April 1, 2001. Consequently, the loss for the quarter and year is understated by ₹2.87 lakh and ₹11.48 lakh respectively, with the aggregate interest not provided amounting to ₹286.68 lakh as of March 31, 2026.

The auditors also highlighted material uncertainty regarding the company's ability to continue as a going concern, citing that accumulated losses exceed paid-up share capital and free reserves, and current liabilities exceed current assets.