Goyal Associates Limited has formally announced the resignation of Mr. Hasmukh Prajapati from his position as Independent Director, effective February 25, 2026. The company has submitted the required intimation to BSE Limited and the Reserve Bank of India under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Director Details and Resignation

Mr. Hasmukh Prajapati, holding Director Identification Number (DIN) 08393981, submitted his resignation from the Independent Director position with immediate effect from February 25, 2026. The resignation was communicated through a formal letter addressed to the Board of Directors.

Reason for Resignation

In his resignation letter, Mr. Prajapati cited his pursuit of entrepreneurial aspirations as the primary reason for stepping down. He explained that these new ventures will require his full-time dedication and attention, making it difficult for him to effectively discharge his responsibilities as an Independent Director of the company. The director emphasized that he would be unable to devote sufficient time to his directorial duties due to these commitments.

Company's Confirmation

Goyal Associates Limited has confirmed that there are no material reasons for Mr. Prajapati's resignation other than those mentioned in his resignation letter. The company has stated that the resignation is purely due to personal reasons as outlined by the departing director. This confirmation was provided as part of the regulatory disclosure requirements.

Regulatory Compliance

The company has fulfilled its regulatory obligations by submitting the necessary intimation under Regulation 30 of the SEBI regulations. The disclosure includes all required details as per SEBI Circular No. SEBI/HO/CFD/CFDPoD-1/CIR/2023/123 dated July 13, 2023. The resignation letter and supporting documentation have been enclosed with the regulatory filing for reference.

Acknowledgment and Transition

In his resignation letter, Mr. Prajapati expressed sincere appreciation and gratitude to the Board of Directors and the entire team of Goyal Associates Limited for their support, cooperation, and guidance during his tenure. He has requested the Board to accept his resignation and make the necessary filings with the Registrar of Companies, along with required intimations to the Stock Exchange and Reserve Bank of India. The resignation has been signed and processed by Chairman and Director Vuppala Naga Malleswara Rao (DIN: 08858080) on behalf of the company.

Goyal Associates Limited announced its unaudited financial results for the third quarter of FY26 ended December 31, 2025, along with significant board changes during a meeting held on February 13, 2026. The financing company reported mixed performance with revenue declining compared to the previous year while maintaining profitability.

Financial Performance Overview

The company's quarterly performance showed a notable decline in revenue from operations. Total revenue from operations for Q3 FY26 stood at ₹28.45 lakhs, significantly lower than ₹89.36 lakhs reported in the corresponding quarter of the previous year. Despite the revenue decline, the company maintained profitability with a net profit of ₹4.89 lakhs compared to ₹31.02 lakhs in Q3 FY25.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, the company reported total revenue from operations of ₹85.79 lakhs against ₹213.78 lakhs in the corresponding period of the previous year. Net profit for the nine-month period declined to ₹11.49 lakhs from ₹60.86 lakhs in the previous year. The company's total expenses decreased proportionally to ₹74.30 lakhs from ₹153.03 lakhs, helping maintain operational efficiency despite lower revenues.

Board Composition Changes

The board approved two significant directorial changes during the meeting. Mr. Gajjala Kranthikumar Reddy was appointed as Additional Non-Executive Independent Director with effect from February 13, 2026, for a term of five consecutive years. The new director is a CA Inter pass-out with expertise in accounting, finance, taxation, and corporate compliance.

Simultaneously, the board accepted the resignation of Mrs. Pragna Makwana as Woman Independent Director, effective from the same date. Mrs. Makwana cited medical reasons for her resignation in her formal letter to the company.

Operational Highlights

Goyal Associates Limited operates primarily in the financing business, with all activities centered around this core segment. The company maintains its operational base at Phoenix Complex, Waghodia Road, Vadodara, Gujarat. The financial results were reviewed by the Audit Committee before board approval, with RSRV & Associates serving as the statutory auditors for the limited review.

The company reported no investor complaints during the nine-month period, maintaining a clean record with nil pending, received, or disposed complaints. The paid-up equity share capital remained stable at ₹469.37 lakhs with shares of ₹10 each, reflecting consistent capital structure throughout the reporting period.