Thakral Services (India) Limited , a company facing significant financial hurdles, has released its unaudited financial results for the quarter and half-year ended September 30, 2025. The report reveals a concerning financial position, with accumulated losses and a negative net worth, raising questions about the company's future operations.

Financial Performance

The company's financial results paint a challenging picture:

Operational Challenges

Thakral Services is grappling with several operational issues:

1. EPFO Recovery Order: The company faces an EPFO recovery order of Rs. 60.36 lakhs. It has obtained an interim stay from the Karnataka High Court by depositing Rs. 10 lakhs in October 2023.

2. Business Transfer: The company's current business operations were transferred to Thakral Innovation Private Limited effective from October 1, 2023.

3. Going Concern Issues: Despite the negative net worth and accumulated losses, management maintains a going concern assumption based on expected future business prospects.

Auditor's Observations

The company's auditors, K.S. Rao & Co., have issued a qualified review report, highlighting several concerns:

1. EPFO Liability: The auditors are unable to comment on potential adjustments required due to the EPFO recovery order.

2. Interest-free Loans: The company has not accounted for any Ind AS 109 adjustments related to the interest-free loans, as required by accounting standards.

3. Material Uncertainty: The auditors note that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern.

Management's Stance

Despite these challenges, the company's management remains optimistic:

1. They believe that future new business prospects will improve the company's operations.
2. Support letters have been obtained from shareholders and lenders to support operations and meet liabilities as needed.

Regulatory Compliance

The company has informed the BSE that it is not required to submit disclosures for related party transactions for the half-year ended September 30, 2025, as it does not meet the applicability criteria under SEBI regulations.

While Thakral Services faces significant financial and operational challenges, the management's efforts to secure support and explore new business opportunities will be crucial in determining the company's future trajectory. Investors and stakeholders should closely monitor the company's progress in addressing these issues and implementing its turnaround strategy.

Thakral Services (India) Limited , a company listed on the Bombay Stock Exchange, has announced significant management changes following its 42nd Annual General Meeting (AGM) held on September 26, 2025. The shareholders approved two key appointments that are set to shape the company's leadership and compliance structure in the coming years.

Re-appointment of Managing Director

Mrs. Nirmala Sridhar has been re-appointed as the Managing Director of Thakral Services (India) Limited for a one-year term, effective from October 1, 2025, to September 30, 2026. This decision comes as a vote of confidence in Mrs. Sridhar's leadership, who has been serving as the Managing Director since October 1, 2021.

Mrs. Sridhar, aged 66, brings a wealth of experience to her role:

• 39 years of experience in the banking industry
• Educational qualifications include B.Sc (Hons), M.Sc (Ed) Life Sciences, and MBA (HR)
• Ex-banker with extensive industry knowledge

The company's board noted that Mrs. Sridhar is not related to any of the directors, emphasizing the professional nature of her appointment.

New Secretarial Auditor Appointed

In another significant move, the shareholders approved the appointment of M/s. Somy Jacob & Associates as the company's Secretarial Auditor. The firm has been engaged for a period of five consecutive years, starting from the financial year 2025-2026.

Key points about M/s. Somy Jacob & Associates:

• Practicing Company Secretary with Certificate of Practice No. 6728
• Over 18 years of experience in Company Law, SEBI Laws, and FEMA Laws
• ICSI-Peer Reviewed firm comprising well-educated professionals

AGM Details

The appointments were approved during Thakral Services' 42nd Annual General Meeting, which was held virtually on September 26, 2025, at 11:30 A.M. through Video Conferencing (VC) and Other Audio Visual Means (OAVM).

These appointments reflect Thakral Services' commitment to maintaining strong leadership and ensuring compliance with regulatory requirements. The re-appointment of Mrs. Sridhar suggests a continuity in management strategy, while the new Secretarial Auditor appointment aims to strengthen the company's corporate governance practices.

Thakral Services (India) Limited continues to adapt and evolve its management structure to meet the challenges of the dynamic business environment while adhering to regulatory standards set by SEBI and other governing bodies.