Ashima Limited Redesignates Director Due to Professional Service Engagement

Ashima Limited's Board of Directors has approved the redesignation of Mr. Sanjay Shaileshbhai Majmudar from Non-Executive Independent Director to Non-Executive Non-Independent Director, effective January 6, 2026. The decision was communicated to stock exchanges under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Reason for Redesignation

The redesignation stems from the company's intention to engage professional services from M/s. Parikh & Majmudar, Chartered Accountants, where Mr. Majmudar serves as a partner. The firm provides professional services relating to accounting, auditing, taxation, financial advisory and allied matters. This engagement may affect Mr. Majmudar's independence criteria as specified under section 149(6) of the Companies Act, 2013, and Regulation 16(1)(b) of SEBI Listing Regulations.

Parameter	Details
Director Name	Mr. Sanjay Shaileshbhai Majmudar
DIN	00091305
Current Position	Non-Executive Independent Director
New Position	Non-Executive Non-Independent Director
Effective Date	January 6, 2026
Professional Firm	M/s. Parikh & Majmudar, Chartered Accountants

Director Profile and Experience

Mr. Sanjay Majmudar, born on March 21, 1963, is a qualified B.Com, FCA, and LLB with approximately 40 years of experience as a practicing Chartered Accountant. He possesses rich experience in Corporate Laws, Direct Tax Laws, Mergers and Acquisitions, Transfer Pricing, Capital Markets and Securities Laws, Banking and Finance, Insolvency and Bankruptcy Laws, and Corporate Governance matters.

Board Engagement and Directorships

Mr. Majmudar was initially appointed to Ashima Limited's board on November 3, 2018, and served his second term as Independent Director from November 3, 2023, until January 6, 2026. He attended all four board meetings during the year and holds zero shares in the company.

Current Directorships	Committee Positions
Ashima Limited	Audit Committee (Chairman), Stakeholders Relationship Committee (Member)
AIA Engineering Limited	Audit Committee, CSR Committee, Risk Management Committee, Nomination & Remuneration Committee (Member)
M & B Engineering Limited	Audit Committee, Nomination & Remuneration Committee, Risk Management Committee (Member)
Welcast Steels Limited	Audit Committee, CSR Committee (Member)
Senores Pharmaceuticals Limited	Stakeholder Relationship Committee (Chairman), Nomination & Remuneration Committee, Risk Management Committee (Member)

Approval Process and Compliance

The redesignation was approved based on the recommendation of the Nomination & Remuneration Committee and requires shareholder approval through postal ballot. As a Non-Executive Non-Independent Director, Mr. Majmudar will be liable to retire by rotation and remain eligible for sitting fees and expense reimbursement for board meeting attendance as per company policy. The company has fulfilled its regulatory disclosure obligations by informing both BSE Limited and National Stock Exchange of India Limited about this governance change.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.51%	-8.18%	-3.19%	-39.52%	-48.15%	+35.62%

Ashima Limited , a diversified company operating in real estate, investment, and advisory services, has released its unaudited financial results for the quarter and half-year ended September 30, 2025, alongside significant corporate updates.

Financial Performance

The company reported a challenging quarter with declining revenues and widening losses:

Particulars (in Rs. lacs)	Q2 FY2026	Q1 FY2026	Q2 FY2025
Revenue from Operations	277.00	370.00	528.00
Net Loss	808.00	283.00	1,192.00

For the half-year ended September 30, 2025, Ashima Limited posted:

Revenue: Rs. 805.00 lacs
Net Loss: Rs. 4,062.00 lacs

Segment Performance

The company's performance across its operating segments showed mixed results:

Segment (in Rs. lacs)	Q2 FY2026 Revenue	Q2 FY2026 Results
Real Estate	366.00	(21.00)
Investment	35.00	(19.00)
Others	0.00	32.00

Balance Sheet Highlights

As of September 30, 2025:

Total Assets: Rs. 56,898.00 lacs
Total Equity: Rs. 28,794.00 lacs
Non-Current Liabilities: Rs. 16,750.00 lacs
Current Liabilities: Rs. 11,353.00 lacs

Corporate Updates

Registered Office Relocation

The Board of Directors has approved the relocation of the company's registered office, effective November 30, 2025:

Current Address: Texcellence Complex, Khokhra, Ahmedabad
New Address: 1st Floor, Aditya, Near Khadayata Colony, Ellisbridge, Ahmedabad - 380006

Management Changes

In a separate announcement dated November 12, 2025, Ashima Limited disclosed the resignation of Mr. Dhaval Thakkar, Senior Manager (Human Resources), who was designated as Senior Management Personnel. Mr. Thakkar's resignation is effective from November 12, 2025, citing personal reasons.

Cash Flow and Liquidity

The company's cash position has seen a significant decrease:

Cash and cash equivalents as of September 30, 2025: Rs. 747.00 lacs
Cash and cash equivalents as of March 31, 2025: Rs. 5,868.00 lacs

Conclusion

Ashima Limited faces challenges in its financial performance, with declining revenues and increasing losses. The relocation of its registered office may be part of the company's efforts to optimize operations. The company's management will need to address these financial challenges in the coming quarters.