Khandwala Securities Limited has successfully appointed Mrs. Suzan Vakil (DIN: 11289012) as an Independent Director through a special resolution passed via remote e-voting postal ballot process. The process concluded on December 8, 2025, with overwhelming shareholder approval.

Key Highlights of the Appointment

• Approval Process: The resolution received 99.99% of valid votes cast in favor, with 139 shareholders participating and casting 9,410,710 total valid votes.
• Term: Mrs. Vakil's appointment is for five years, from September 11, 2025, to September 10, 2030.
• Expertise: Mrs. Vakil has over 15 years of experience as an Advocate and 9 years as a Solicitor, specializing in power, renewable energy, infrastructure, and commercial disputes.
• Educational Background: She holds LLB and B.Com degrees and became a solicitor from the Bombay Incorporated Law Society in 2016.

Board Committee Restructuring

Following Mrs. Vakil's appointment, Khandwala Securities has reconstituted its board committees:

Audit Committee

• Mr. Kalpen Shukla (Chairman)
• Mrs. Suzan Vakil (Member)
• Mrs. Bhagyashree Khandwala (Member)

Nomination and Remuneration Committee

• Mrs. Suzan Vakil (Chairman)
• Mr. Kalpen Shukla (Member)
• Mrs. Bhagyashree Khandwala (Member)

Stakeholders Relationship Committee

• Mr. Kalpen Shukla (Chairman)
• Mrs. Suzan Vakil (Member)
• Mr. Paresh Khandwala (Member)

Additional Information

The company has confirmed that Mrs. Vakil is not related to any other directors on the board and is not debarred from holding a directorship by any regulatory authority. Her appointment was initially recommended by the Nomination and Remuneration Committee and approved by the Board of Directors during a meeting held on September 11, 2025.

The board meeting where the initial decision was made commenced at 4:30 p.m. and concluded at 5:20 p.m. on September 11, 2025. Khandwala Securities has duly informed the stock exchanges of these developments in compliance with SEBI regulations.

With the successful completion of the postal ballot process, Mrs. Suzan Vakil's appointment as an Independent Director has now received the necessary shareholder approval, solidifying her position on the board of Khandwala Securities Limited.

Khandwala Securities Limited , a financial services company, has reported a net loss for the first quarter and announced the appointment of new statutory auditors. The company's financial performance and corporate governance updates were disclosed in its recent board meeting.

Financial Performance

Khandwala Securities reported a net loss of Rs 58.58 lakhs for the quarter, a significant downturn compared to a profit of Rs 47.83 lakhs in the same quarter of the previous year. The company's revenue from operations saw a substantial decline, dropping to Rs 114.20 lakhs from Rs 252.06 lakhs year-on-year, representing a decrease of approximately 54.70%.

The financial results also revealed:

• Other income increased to Rs 15.52 lakhs from Rs 5.55 lakhs in the corresponding quarter last year.
• Total expenses decreased to Rs 188.39 lakhs compared to Rs 210.89 lakhs in the previous year's quarter.
• Earnings per share (EPS) turned negative at Rs 0.38, down from a positive Rs 0.31 in the same period last year.

Segment-wise Performance

The company's segment-wise results showed:

Appointment of New Statutory Auditors

In a significant corporate governance move, Khandwala Securities' Board of Directors approved the appointment of M/s. Pravesh Agarwal & Associates, Chartered Accountants (FRN: 163221W) as the new statutory auditors of the company. This appointment is subject to shareholder approval at the upcoming Annual General Meeting (AGM). The new auditors will serve for a term of five consecutive years, from the conclusion of the 32nd AGM until the 37th AGM.

The change comes as the term of the current auditors, M/s. Aniket Kulkarni & Associates, Chartered Accountants, is set to conclude at the upcoming 32nd AGM. The Board expressed appreciation for the services rendered by the outgoing auditors during their tenure.

About the New Auditors

M/s. Pravesh Agarwal & Associates is a proprietorship firm led by Mr. Pravesh Agarwal, a Chartered Accountant with over 10 years of experience in statutory audits, internal audits, accounting, tax advisory services, and litigation services. The firm's registered office is located in Thane, Maharashtra.

The board meeting, which approved these changes and results, was held on August 12, at the company's registered office, commencing at 3:00 p.m. and concluding at 3:45 p.m.

Khandwala Securities Limited continues to navigate challenging market conditions, as reflected in its quarterly results. The appointment of new auditors signals the company's commitment to maintaining strong corporate governance practices amidst financial headwinds.