Thakral Services (India) Limited , a company listed on the Bombay Stock Exchange, has announced significant management changes following its 42nd Annual General Meeting (AGM) held on September 26, 2025. The shareholders approved two key appointments that are set to shape the company's leadership and compliance structure in the coming years.

Re-appointment of Managing Director

Mrs. Nirmala Sridhar has been re-appointed as the Managing Director of Thakral Services (India) Limited for a one-year term, effective from October 1, 2025, to September 30, 2026. This decision comes as a vote of confidence in Mrs. Sridhar's leadership, who has been serving as the Managing Director since October 1, 2021.

Mrs. Sridhar, aged 66, brings a wealth of experience to her role:

• 39 years of experience in the banking industry
• Educational qualifications include B.Sc (Hons), M.Sc (Ed) Life Sciences, and MBA (HR)
• Ex-banker with extensive industry knowledge

The company's board noted that Mrs. Sridhar is not related to any of the directors, emphasizing the professional nature of her appointment.

New Secretarial Auditor Appointed

In another significant move, the shareholders approved the appointment of M/s. Somy Jacob & Associates as the company's Secretarial Auditor. The firm has been engaged for a period of five consecutive years, starting from the financial year 2025-2026.

Key points about M/s. Somy Jacob & Associates:

• Practicing Company Secretary with Certificate of Practice No. 6728
• Over 18 years of experience in Company Law, SEBI Laws, and FEMA Laws
• ICSI-Peer Reviewed firm comprising well-educated professionals

AGM Details

The appointments were approved during Thakral Services' 42nd Annual General Meeting, which was held virtually on September 26, 2025, at 11:30 A.M. through Video Conferencing (VC) and Other Audio Visual Means (OAVM).

These appointments reflect Thakral Services' commitment to maintaining strong leadership and ensuring compliance with regulatory requirements. The re-appointment of Mrs. Sridhar suggests a continuity in management strategy, while the new Secretarial Auditor appointment aims to strengthen the company's corporate governance practices.

Thakral Services (India) Limited continues to adapt and evolve its management structure to meet the challenges of the dynamic business environment while adhering to regulatory standards set by SEBI and other governing bodies.

Thakral Services (India) Limited , a company facing significant financial challenges, has reported its unaudited financial results for the first quarter ended June 30, 2025. The results, approved by the company's board of directors, reveal a concerning financial situation despite some operational improvements.

Financial Performance

The company reported a net loss of ₹7.51 lakhs for the quarter, a stark contrast to the profit of ₹0.03 lakhs in the previous quarter. However, there was a notable increase in revenue from operations, which rose to ₹14.33 lakhs from ₹8.80 lakhs in the preceding quarter.

Going Concern Issues

Thakral Services is grappling with significant financial challenges. The company has accumulated losses of ₹1,275.67 lakhs as of June 30, 2025, resulting in the complete erosion of its net worth. This situation raises substantial doubt about the company's ability to continue as a going concern.

Business Transfer and Future Prospects

Thakral Services transferred its current business operations to Thakral Innovation Private Limited, effective October 1, 2023. Despite this major change, the management remains optimistic about future prospects, believing that new business opportunities will lead to improved operations.

Board Decisions and Management Changes

The board of directors has made several key decisions:

1. Approval of the unaudited financial results for Q1 FY2026
2. Setting the date for the Annual General Meeting on September 26, 2025
3. Re-appointment of Mrs. Nirmala Sridhar as Managing Director

Auditor's Concerns

The company's auditors have issued a qualified conclusion, highlighting two major concerns:

1. An EPFO recovery order of ₹60.36 lakhs, against which the company has obtained an interim stay from the Karnataka High Court after depositing ₹10 lakhs.
2. Improper accounting of interest-free loans worth ₹807.41 lakhs, which should be recognized at amortized cost as per Ind AS 109.

Tax Demand

Adding to the company's financial woes is a tax demand of ₹8.22 lakhs, along with interest of ₹7.13 lakhs and a penalty of ₹1.02 lakhs, for the period April 2019 to March 2020. The company has neither provided for this amount nor disclosed it as a contingent liability.

Despite these challenges, Thakral Services continues to prepare its financial results on a going concern basis, supported by letters from shareholders and lenders. The management's ability to secure new business opportunities and navigate these financial hurdles will be crucial for the company's future.