Riddhi Corporate Services Limited held a board meeting on February 26, 2026, at its registered office in Ahmedabad, Gujarat, addressing several significant corporate governance matters. The meeting, which commenced at 02:00 P.M. and concluded at 02:40 P.M., focused primarily on IPO-related deviations and auditor appointments as communicated to the Bombay Stock Exchange under Regulation 30(6) of SEBI (LODR) Regulations, 2015.

IPO Object Clause Deviation Approved

The board of directors, following recommendations from the Audit Committee, approved a deviation in the object clause of the company's initial public offering as originally stated in the prospectus. This decision requires shareholder approval and aligns with regulatory requirements under multiple statutory frameworks.

Secretarial Auditor Appointment

The board approved the appointment of M/s Amrish Gandhi & Associates as the company's secretarial auditor for an extended five-year term. This appointment covers the financial years from 2025-2026 to 2029-2030, subject to shareholder approval.

Postal Ballot Process Initiated

To facilitate shareholder approval for the proposed changes, the board approved a comprehensive postal ballot notice and calendar of events. The company will seek member approval for the specified agenda items through this process.

The postal ballot notice will be distributed to shareholders via email and submitted to relevant exchanges and the e-voting agency simultaneously.

Meeting Details and Compliance

The board meeting was held at the company's registered office located at 10 Mill Officers Colony, Behind Old RBI, Ashram Road, Ahmedabad-380009, Gujarat. The meeting outcomes were communicated to the Bombay Stock Exchange in compliance with regulatory requirements.

Mustafa Mufaddalbhai Sibatra, serving as Compliance Officer and Company Secretary (M. No: A63829), signed the regulatory filing with digital signature authentication. The company maintains ISO 9001:2015, 27001:2013, and CMMI Level 3 certifications, reflecting its commitment to quality and security standards in corporate services.

Riddhi Corporate Services Limited has addressed a clerical error in its quarterly audit documentation while reporting solid financial performance for the third quarter of fiscal year 2026. The company clarified that its statutory auditor inadvertently mentioned "SUMERA INDUSTRIES LIMITED" instead of "RIDDHI CORPORATE SERVICES LIMITED" in the Limited Review Report for the quarter ended December 31, 2025.

Administrative Clarification

The company confirmed that the Limited Review Report was submitted within prescribed timelines, but contained a typographical error that did not affect the financial results or audit opinion. A corrected version has since been issued and submitted to BSE Limited. The error was purely clerical in nature and has been rectified by the statutory auditor.

Q3FY26 Financial Performance

The company delivered strong operational results for the quarter ended December 31, 2025, demonstrating significant growth across key metrics.

Nine-Month Performance Analysis

For the nine months ended December 31, 2025, the company showed robust revenue growth while maintaining profitability.

Expense Structure and Operational Metrics

The company's expense profile showed significant changes, particularly in employee benefit expenses which increased substantially to ₹9,051.48 lakh in Q3FY26 from ₹1,340.76 lakh in Q3FY25. Total expenses for the quarter reached ₹13,222.45 lakh compared to ₹5,949.78 lakh in the previous year.

Regulatory Compliance and Fund Utilization

The financial results were prepared in accordance with Indian Accounting Standards (Ind AS) and approved by the Board of Directors on February 14, 2026. The company provided detailed fund utilization status from its public and preferential issues, showing minimal utilization of allocated funds for acquisitions, capital expenditure, and general corporate purposes as of December 30, 2025.

Corporate Governance

The results were reviewed by the Audit Committee and received board approval, maintaining the company's commitment to transparent financial reporting despite the administrative error in the initial audit report submission.