Pfl Infotech Ltd. has announced significant changes to its Board of Directors and deferred several crucial decisions, according to a recent filing with the BSE.

Board Restructuring

The company's Board of Directors has approved the appointment of two new Additional Directors:

1. Mr. Pankaj Jain (DIN: 11114458): Appointed as a Non-Executive and Independent Director. Mr. Jain brings over a decade of experience in finance, with expertise in debt syndication, project finance, financial restructuring, and NPA resolution. He has previously worked with institutions such as ARCIL, Hindustan Construction Company, and JSW Steel.

2. Mr. Vipin Shantilal Champawat (DIN: 06369837): Also appointed as a Non-Executive and Independent Director. Mr. Champawat has more than two decades of experience in accounts, finance, and taxation. He is a commerce graduate and has completed the Intermediate level of Chartered Accountancy.

Simultaneously, the Board accepted the resignations of two existing Independent Directors:

• Mr. Abhinandan Jain (DIN: 03199953)
• Mrs. Sujana Kadiam (DIN: 07167872), who also held the position of Chairperson

Deferred Decisions

The Board has postponed three significant decisions:

1. Reduction of the company's paid-up share capital
2. Further issuance of equity shares on a preferential basis
3. Shifting of the registered office from the State of Telangana to the State of Maharashtra

Annual General Meeting and Book Closure

PFL Infotech has rescheduled its 38th Annual General Meeting (AGM) to September 30, 2025, at 4:00 PM, a change from the previously announced date of September 26, 2025. In connection with the AGM, the company has announced that the Register of Members and Share Transfer Books will remain closed from September 26 to September 29, 2025 (both days inclusive).

The Board meeting where these decisions were made commenced at 3:00 PM and concluded at 4:00 PM.

These developments indicate a period of transition for PFL Infotech, with changes in leadership and a reconsideration of strategic moves. Shareholders and market observers will likely be watching closely to see how these changes and deferred decisions impact the company's future direction.

Pfl Infotech Ltd. , a Hyderabad-based company, has reported a significant increase in net loss for the first quarter. The company also announced key corporate decisions, including the appointment of a new secretarial auditor and the scheduling of its annual general meeting.

Financial Performance

PFL Infotech's unaudited financial results for the quarter reveal a net loss of Rs 41.85 crore, compared to a loss of Rs 9.47 crore in the same quarter of the previous year. This represents a substantial widening of losses by approximately 342%.

The company reported zero revenue from operations for the quarter. Total expenses stood at Rs 41.85 crore, primarily driven by administrative expenses of Rs 40.87 crore.

Key financial highlights for Q1:

Corporate Updates

The Board of Directors, in its meeting held on August 14, made several key decisions:

1. Secretarial Auditor Appointment: M/s Marthi & Co, Practicing Company Secretaries, has been appointed as the Secretarial Auditor for a five-year term from April 1, 2025, to March 31, 2030. This appointment is subject to shareholder approval at the upcoming Annual General Meeting (AGM).

2. Annual General Meeting: The company's 38th AGM is scheduled for September 26, at 4:00 PM.

3. Book Closure: The Register of Members and Share Transfer Books will remain closed from September 23 to September 25 (both days inclusive).

4. Directors' Report: The Board has approved the Directors' Report and its annexures for the previous financial year.

5. AGM Scrutinizer: Shri Soma Sekhar Marthi, Practicing Company Secretary, has been appointed as the Scrutinizer for the 38th AGM.

The newly appointed Secretarial Auditor, Mr. Soma Sekhar Marthi, brings extensive experience in corporate laws, finance, mergers, acquisitions, and administrative matters. He is a Fellow Member of The Institute of Company Secretaries of India and has been associated with several prominent organizations.

PFL Infotech's management will likely face questions from shareholders about the company's financial performance and strategies to return to profitability at the upcoming AGM. The significant increase in administrative expenses and the lack of operational revenue may be areas of concern for investors.

Investors and stakeholders are advised to monitor further announcements and the upcoming AGM for more insights into the company's future plans and strategies.