Yash Innoventures Limited (formerly known as Redex Protech Limited) has reported a substantial increase in profit for the first quarter, driven by exceptional items and improved operational performance. The company's board meeting, held on August 14, 2025, approved several key decisions, including the quarterly financial results and new appointments.

Financial Performance

The company's unaudited financial results for the quarter ended June 30, 2025, revealed a remarkable turnaround:

Yash Innoventures reported a significant increase in revenue from operations, doubling to ₹98.00 lacs compared to ₹49.00 lacs in the same quarter last year. The company's profit after tax surged to ₹599.02 lacs, a substantial improvement from a loss of ₹57.33 lacs in the previous year's corresponding quarter.

The dramatic profit increase was primarily attributed to exceptional items amounting to ₹612.10 lacs, resulting from the sale of a non-current asset. This sale was completed during the quarter ended June 30, 2025, and the gain was recognized under "Exceptional Items" in accordance with Indian Accounting Standards.

Key Board Decisions

Appointment of Secretarial Auditor

The board appointed M/s. A. Shah & Associates as the company's secretarial auditor for five consecutive financial years starting from 2025-26, subject to shareholder approval.

New Director Appointment

Mr. Devang Bhikhubhai Parekh was appointed as an Additional Non-Executive Independent Director. Mr. Parekh, aged 54, is a legal professional with 25 years of experience in handling motor accident and consumer cases.

Annual General Meeting Preparations

The board approved the Directors' Report, AGM notice, and other preparations for the 34th Annual General Meeting.

Amalgamation Impact

The financial results reflect the impact of the amalgamation with Yash Shelters Limited, which was sanctioned by the National Company Law Tribunal (NCLT) on March 25, 2025, with an appointed date of October 1, 2022. The scheme became effective on April 15, 2025. As part of the amalgamation, Yash Innoventures issued 93,08,800 fully paid-up equity shares of ₹10 each to the shareholders of Yash Shelters Limited in the agreed swap ratio of 32:1.

Outlook

The significant improvement in financial performance, coupled with strategic appointments and the completion of the amalgamation process, positions Yash Innoventures for potential growth in the construction and infrastructure sector. The company's focus on strengthening its governance structure through new appointments and its expanded operational scope following the merger with Yash Shelters Limited may provide a foundation for sustained growth in the coming quarters.

Investors should note that the exceptional gain from asset sale significantly influenced the quarter's profitability, and future performance may vary.

Yash Innoventures Limited has announced the cancellation of its previously planned 'Elite Project', a residential apartment redevelopment initiative, citing a change in strategic priorities. The company, formerly known as Redex Protech Limited, had initially unveiled the project on March 25, 2025.

Project Cancellation

In a disclosure to the Bombay Stock Exchange (BSE) under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements (LODR), Yash Innoventures stated that the management, after careful consideration, concluded that proceeding with the Elite Project was not in the best interest of the company and its stakeholders at this time.

Strategic Realignment

The company emphasized its commitment to evaluating other strategic opportunities that align with its long-term growth objectives. Yash Innoventures assured stakeholders that it would keep the exchanges informed of any material developments in this regard.

Upcoming Board Meeting

In a separate announcement, Yash Innoventures disclosed that its Board of Directors is scheduled to meet on Wednesday, August 13, 2025. The meeting agenda includes:

1. Consideration and approval of unaudited financial results for the quarter ended June 30, 2025
2. Appointment of M/S A. Shah & Associates as the company's Secretarial Auditor for five consecutive financial years from 2025-26, subject to shareholder approval
3. Approval of the Directors' Report and Secretarial Audit Report for the financial year ended March 31, 2025
4. Approval of the notice for the 34th Annual General Meeting
5. Appointment of a scrutinizer for e-voting at the 34th AGM
6. Approval of record date and/or book closure date for the 34th AGM
7. Consideration of appointing Mr. Devang Bhikhubhai Parekh (DIN: 09814005) as an Additional Director (Non-Executive Independent Director)

Trading Window Closure

The company also noted that the trading window for dealing in its securities, which has been closed since July 1, 2025, will remain closed until August 15, 2025, in compliance with SEBI's Prohibition of Insider Trading Regulations.

As Yash Innoventures navigates this strategic shift, investors and stakeholders will be keenly watching for further updates on the company's future projects and growth strategies.