Caspian Corporate Services Limited (BSE: 534732) has announced the appointment of Naresh Reddy Vattipally as an Executive Director, effective September 20, 2025. The appointment was approved by shareholders at the company's 14th Annual General Meeting (AGM) held on the same date.

New Executive Director Profile

Naresh Reddy Vattipally, 42, brings a wealth of experience to his new role:

• Educational Background: Holds a postgraduate degree in MSc Computer and an MBA in Management
• Professional Experience: Over 6 years of business experience in integrated services
• Areas of Expertise: Housekeeping, security, property management, business support services, and human resource outsourcing

Appointment Details

• Designation: Executive Director
• Date of Appointment: September 20, 2025
• Term: Liable to retire by rotation
• Director Identification Number (DIN): 11169531

Corporate Governance

The company has confirmed that Mr. Vattipally is not related to any existing directors of Caspian Corporate Services Limited. Additionally, he is not debarred from holding directorial positions by any SEBI order or other regulatory authority.

Shareholder Approval

The appointment of Naresh Reddy Vattipally was put to vote at the AGM, with the following results:

The overwhelming support from shareholders indicates strong confidence in Mr. Vattipally's appointment to the board.

Other AGM Highlights

In addition to Mr. Vattipally's appointment, the AGM addressed several other important matters:

1. Adoption of Financial Statements: The audited standalone and consolidated financial statements for the year ended March 31, 2025, were approved.

2. Dividend Declaration: A final dividend of Rs. 0.05 per equity share (5% of face value) was declared for the financial year ended March 31, 2025.

3. Director Reappointment: Mr. Sampath Rao Nemmani (DIN: 07999868) was reappointed as a director, retiring by rotation.

4. Secretarial Auditor Appointment: M/s. Shalini Pandey & Associates was appointed as the Secretarial Auditor of the company for a term of five consecutive years from FY 2025-26 to FY 2029-30.

5. Related Party Transactions: Shareholders approved related party transactions for the company.

The appointment of Naresh Reddy Vattipally as Executive Director is expected to bring fresh perspectives and valuable expertise to Caspian Corporate Services Limited's leadership team.

Caspian Corporate Services Limited , a manpower services company, has reported mixed financial results for the first quarter ended June 30. The company saw significant revenue growth in its standalone operations but experienced a sharp decline in profitability across both standalone and consolidated figures.

Standalone Performance

On a standalone basis, Caspian Corporate Services reported a robust 58.8% year-over-year increase in revenue from operations, reaching Rs 79.21 lakhs compared to Rs 49.87 lakhs in the same quarter last year. However, this growth was accompanied by a substantial increase in expenses, particularly in employee benefit expenses, which rose to Rs 73.45 lakhs from Rs 25.97 lakhs in the previous year.

The surge in costs led to a significant drop in profitability:

• Net profit plummeted by 98.5% to Rs 0.25 lakhs, down from Rs 17.14 lakhs in the corresponding quarter of the previous year
• Earnings per share (EPS) declined to Rs 0.0002 from Rs 0.0406 a year ago

Consolidated Results

The consolidated financial picture showed a different trend in revenue but similar pressure on profitability:

• Revenue from operations saw a marginal increase of 0.6%, reaching Rs 2,478.47 lakhs compared to Rs 2,464.91 lakhs in the same quarter last year
• Net profit witnessed a steep decline of 98.3%, falling to Rs 5.36 lakhs from Rs 309.31 lakhs in the previous year's quarter
• Consolidated EPS dropped to Rs 0.0042 from Rs 0.7330 year-over-year

Segment Performance and Operational Highlights

Caspian Corporate Services operates solely in the manpower services segment. The company's board meeting, held on August 11, approved these unaudited financial results for the quarter ended June 30.

Sequential Performance

Compared to the previous quarter (Q4 of the previous fiscal year), the company showed some signs of improvement:

Key Observations

• The company is experiencing growth in its operations, particularly on a standalone basis
• Sharp increase in expenses, especially employee benefit costs, has significantly impacted profitability
• The company's ability to manage its cost structure while maintaining revenue growth will be crucial for improving profitability in the coming quarters
• Caspian Corporate Services continues to focus on its core business of manpower services
• Future performance may depend on the company's ability to optimize its operations and improve profit margins in this segment