S.V. Trading & Agencies Reports Quarterly Loss, Announces Major Leadership Changes
SV Trading & Agencies Limited reported a net loss of Rs 5.11 lakhs for the quarter, compared to a profit of Rs 92.05 lakhs in the same period last year. The company announced significant leadership changes, including the resignation of CFO and Director Mrs. Neelu Kumawat, appointment of Mrs. Urvashi Tilkesh Sharma as new Executive Director and CFO, resignation of Independent Director Mr. Chirag Ghadoliya, appointment of Mr. Kapil Paliwal as new Independent Director, and Ms. Isheeta Sharma as Company Secretary. The company also approved relocation of its registered office and reconstituted its board committees.
*this image is generated using AI for illustrative purposes only.
SV Trading & Agencies Limited, a Mumbai-based company, has reported a significant financial downturn and announced a series of major leadership changes, as disclosed in their latest quarterly results and board meeting outcomes.
Financial Performance
The company reported a net loss of Rs 5.11 lakhs for the quarter, marking a stark contrast to the net profit of Rs 92.05 lakhs recorded in the same period last year. This represents a substantial decline in the company's financial performance.
| Particulars | Q1 (Unaudited) | Q1 (Unaudited) |
|---|---|---|
| Revenue from operations | 0.42 | 2.43 |
| Total income | 0.42 | 2.43 |
| Total expenses | 5.53 | 5.56 |
| Net profit/(loss) | (5.11) | 92.05 |
| EPS (Basic & Diluted) | (0.03) | (0.03) |
*All figures in Rs. lakhs, except EPS
Leadership Changes
The company has undergone significant management restructuring:
CFO and Director Resignation: Mrs. Neelu Kumawat has stepped down from her positions as Director (Women-Executive) and Chief Financial Officer, citing personal circumstances.
New Executive Director and CFO: Mrs. Urvashi Tilkesh Sharma has been appointed as the new Executive Director and Chief Financial Officer. She brings over 15 years of experience in management and administration to her new role.
Independent Director Changes: Mr. Chirag Ghadoliya has resigned as an Independent Director due to personal reasons. Mr. Kapil Paliwal, with over 10 years of experience in accounts and finance, has been appointed as a new Additional Non-Executive Independent Director for a five-year term, subject to shareholder approval.
Company Secretary Appointment: Ms. Isheeta Sharma, an Associate Member of the Institute of Company Secretaries of India, has been appointed as the new Company Secretary and Compliance Officer.
Other Key Developments
Registered Office Relocation: The company has approved a change in its registered office location to Unit No. 45, Lower Ground, The Tenth Central Co Op Premises Soc Ltd, Near D Mart, Mahavir Nagar, Kandivali, Mumbai.
Board Committee Reconstitution: Following the leadership changes, the company has reconstituted its board committees, including the Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee.
The board meeting, which approved these changes and the quarterly results, was held on July 21, commencing at 1:00 PM and concluding at 3:30 PM.
These developments come at a crucial time for SV Trading & Agencies Limited as it navigates through financial challenges and implements significant organizational changes. The impact of these leadership transitions on the company's future performance remains to be seen.
Historical Stock Returns for SV Trading & Agencies
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| 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
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