Parle Industries Limited , a company operating in the Infrastructure & Real Estate and Paper waste recycling segments, has released its unaudited financial results for the first quarter. The company also announced significant changes in its key personnel.

Financial Performance

For Q1, Parle Industries reported:

The company's standalone revenue from operations decreased to Rs 20.00 lakhs from Rs 35.33 lakhs in the same quarter of the previous year. Despite the revenue decline, the company managed to report a profit after tax of Rs 8.79 lakhs on a standalone basis.

Segment-wise Performance

Parle Industries operates in two main segments:

1. Infrastructure & Real Estate
2. Paper waste recycling

The Infrastructure & Real Estate segment contributed Rs 20.00 lakhs to the revenue, while the Paper waste recycling segment did not report any revenue for the quarter.

Key Management Changes

The company announced two significant changes in its management and audit structure:

1. Resignation of Company Secretary: Ms. Deepika Tater has resigned from her position as Company Secretary and Compliance Officer.

2. Resignation of Statutory Auditor: M/s. Ajmera & Ajmera, Chartered Accountants, have resigned as the Statutory Auditor of the company after completing the limited review for Q1. The auditors cited other occupancy and commitments as the reason for their resignation.

Ongoing Legal Dispute

Parle Industries is currently involved in a legal dispute with Weldone Integrated Services Private Ltd (WISPL) and Marvelous Vickyfoods Private Limited (MVPL) regarding share purchase agreements. The matter is sub-judice with the Bombay High Court under a Commercial Arbitration Petition.

Due to non-payment of consideration payable on the share swap mechanism, Parle Industries terminated the Share Purchase Agreements with WISPL and MVPL. Consequently, these entities could not become wholly-owned subsidiaries of Parle Industries. The company has also forfeited the equity shares issued to the shareholders of WISPL and MVPL.

Auditor's Review

The limited review report by M/s. Ajmera & Ajmera highlighted certain qualifications regarding the ongoing legal dispute and its potential impact on the financial statements. The auditors were unable to determine the potential impact of non-inclusion of WISPL and MVPL in the consolidated financial results due to the legal dispute.

Parle Industries' management and board will need to address these challenges and changes in the coming months to ensure stability and growth for the company.

The unaudited financial results are available on the company's website www.parleindustries.com and on the BSE website www.bseindia.com .

Parle Industries Limited has announced a crucial board meeting scheduled for August 14, 2025, to address key financial and organizational matters. The meeting, set to take place at the company's registered office in Mumbai, will focus on approving financial results and addressing recent changes in key personnel.

Financial Results Review

The board of directors will convene to consider and approve the standalone and consolidated unaudited financial results for the quarter ended June 30, 2025. This review of the company's financial performance for the first quarter of the fiscal year is a standard practice for publicly traded companies and provides investors and stakeholders with insights into the company's financial health and operational performance.

Organizational Changes

A significant item on the agenda is the formal acknowledgment of Ms. Deepika Tater's resignation from her position as Company Secretary and Compliance Officer. The resignation, effective July 23, 2025, marks a change in the company's key management personnel. The board will take note of this development during the meeting.

Meeting Details

The board meeting is scheduled to be held at Parle Industries Limited's registered office, located at 310-311, The Avenue, Marol, Andheri East, Mumbai-400059. As per the company's LODR (Listing Obligations and Disclosure Requirements) filing, the meeting will also be open to any other business with the permission of the chair.

Sheena Karkera, the CEO of Parle Industries Limited, signed off on the LODR notification, which was filed with the BSE Limited on August 9, 2025. This advance notice of the board meeting complies with Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Investors and market analysts will likely be keen to review the Q1 results once they are approved and released following the board meeting. The financial results, along with any strategic decisions made during the meeting, may provide valuable insights into Parle Industries' performance and future outlook.