Last Mile Enterprises Limited Board Meeting Outcome: Director Resignation December 30, 2025

1 min read     Updated on 30 Dec 2025, 04:59 PM
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Overview

Last Mile Enterprises Limited held a board meeting on December 30, 2025, accepting the resignation of Mr. Dharmendra Naranbhai Gohil (DIN: 10041074) as Non-Executive Non-Independent Director. The resignation, submitted on December 29, became effective December 30, 2025, citing preoccupation and personal commitments as reasons. The company filed the disclosure under SEBI Regulation 30 for regulatory compliance.

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Last Mile Enterprises Limited (formerly Trans Financial Resources Limited) announced the outcome of its board meeting held on December 30, 2025, at the company's registered office. The board formally accepted the resignation of Mr. Dharmendra Naranbhai Gohil, who served as a Non-Executive Non-Independent Director, with immediate effect.

Director Resignation Details

The resignation became effective on December 30, 2025, marking the end of Mr. Gohil's tenure with the company. According to the official board meeting outcome, he cited preoccupation and other personal commitments as the primary reasons for his inability to continue as director.

Parameter: Details
Director Name: Mr. Dharmendra Naranbhai Gohil
DIN: 10041074
Position: Non-Executive Non-Independent Director
Cessation Date: December 30, 2025
Reason: Preoccupation and personal commitments
Other Directorships: None (NA)

Resignation Process and Documentation

Mr. Gohil submitted his resignation letter on December 29, 2025, requesting relief from directorship duties effective from the closing of business hours on December 30, 2025. In his resignation letter, he acknowledged gaining useful experience and challenging opportunities during his association with Last Mile Enterprises Limited.

The departing director confirmed that no other reasons contributed to his resignation beyond those mentioned in his formal resignation letter. The company has attached the resignation letter as Annexure II to the official board meeting outcome document.

Board Meeting Outcome

The board meeting transacted the business of accepting Mr. Gohil's resignation as the primary agenda item. The company confirmed that Mr. Gohil does not hold directorships in any other entities at the time of his resignation, as indicated by "NA" in the official documentation.

Regulatory Compliance

Last Mile Enterprises Limited filed this disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, ensuring compliance with mandatory reporting requirements for material events affecting the company's board composition. The communication was addressed to the General Manager (DCS) at BSE Limited, referencing scrip code 526961.

The company's registered office is located at 4th Floor, Vaghela Avenue, Near Havmor Restaurant, Navrangpura, Ahmedabad-380009, and operates under CIN L70100GJ1994PLC022954.

Last Mile Enterprises Reports Mixed Q2 FY26 Results Amid Fund Utilization Challenges

1 min read     Updated on 15 Nov 2025, 01:59 PM
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Overview

Last Mile Enterprises Limited reported a significant revenue increase of 2377.8% YoY to ₹78,563.65 crore in Q2 FY26, driven by mobile accessories and gadgets business. However, net profit declined by 74.1% to ₹247.72 crore, with EPS dropping 98% to ₹0.07. The company faced challenges in fully utilizing ₹280.32 crore raised through preferential issue, with ₹45.97 crore remaining unutilized due to delays in warrant conversion. The current share price of ₹13 is below the warrant exercise price of ₹45, impacting conversion. Management is monitoring the situation and plans to complete fund utilization objectives once remaining warrant amounts are received.

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Last Mile Enterprises Limited (formerly known as Trans Financial Resources Limited) has reported its financial results for the second quarter of fiscal year 2026, revealing a mixed performance amid ongoing challenges in fund utilization from its preferential issue.

Financial Highlights

For the quarter ended September 30, 2025, Last Mile Enterprises reported:

Metric Q2 FY26 Q2 FY25 YoY Change
Revenue from Operations ₹78,563.65 ₹3,169.90 +2377.8%
Net Profit ₹247.72 ₹955.35 -74.1%
EPS (Basic & Diluted) ₹0.07 ₹3.49 -98.0%

The company's revenue saw a significant year-over-year increase, primarily driven by its business in mobile accessories, gadgets, and other related items. However, net profit and earnings per share declined substantially compared to the same quarter last year.

Segment Performance

  • Real Estate & Other Related Services: Revenue of ₹714.19 crore
  • Mobile Accessories, Gadgets and Other Related Items: Revenue of ₹123,789.02 crore

Fund Utilization and Preferential Issue

Last Mile Enterprises faced challenges in fully utilizing funds raised through its preferential issue. The company reported:

  • Total funds raised: ₹280.32 crore
  • Funds utilized: ₹234.35 crore
  • Unutilized amount: ₹45.97 crore

The company cited delays in warrant conversion as a primary reason for the incomplete utilization of funds. The current share price of ₹13 is significantly lower than the warrant exercise price of ₹45, impacting the conversion of warrants into equity shares.

Management Commentary

Mr. Hemrajsinh Surendrasinh Vaghela, Director & Chairperson, stated, "While we have fully utilized the funds received so far, the delay in warrant conversion has impacted our ability to complete all planned objectives. We are closely monitoring the situation and will take appropriate actions within the statutory timelines for warrant payments."

Future Outlook

Last Mile Enterprises plans to focus on completing its fund utilization objectives once the remaining warrant amounts are received. The company remains committed to its expansion plans in real estate, investments in subsidiaries, and strategic acquisitions.

The Board of Directors has approved the unaudited financial results and noted no deviations in the use of proceeds from the preferential issue.

Investors and stakeholders will be watching closely to see how Last Mile Enterprises navigates the challenges of fund utilization and warrant conversion in the coming quarters.

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