Toyam Sports Limited has announced the resignation of its Secretarial Auditor, Nitesh Chaudhary & Associates, effective March 5, 2026. The company informed the Bombay Stock Exchange and Metropolitan Stock Exchange of India about this development through a regulatory filing dated March 9, 2026.

Resignation Details

The resignation was submitted by Nitesh Chaudhary & Associates, a Practicing Company Secretary bearing Membership No-10010 and COP No. 16275. The auditor cited professional commitments and other engagements as the primary reason for stepping down from the position.

Company's Statement

Toyam Sports Limited clarified that there were no concerns raised by the Secretarial Auditor regarding the management of the company, nor was there any material reason for the resignation. The resignation letter specifically mentioned that the auditor would no longer be able to continue providing secretarial auditor and certification services due to professional commitments.

Next Steps

The company has indicated that its Audit Committee and Board will consider the appointment of new secretarial auditors in due course. Toyam Sports Limited has committed to informing the stock exchanges once the new appointment is finalized.

Regulatory Compliance

The intimation was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided all required details under the regulation, including the auditor's profile and reason for change.

The resignation letter was signed by Executive Director Shahnawaz Sayed on behalf of Toyam Sports Limited and submitted to both exchanges where the company's shares are listed under scrip code 538607.

Toyam Sports Limited has submitted its newspaper clipping for Q2FY26 unaudited financial results to stock exchanges, fulfilling regulatory requirements under SEBI (LODR) Regulations, 2015. The company reported challenging financial performance for the quarter ended 30th September, 2025, with zero operational revenue and significant losses.

Financial Performance Overview

The company's standalone financial results for Q2FY26 present a concerning picture with no income generation from operations. Total expenses amounted to ₹8.81 lakhs, directly translating to equivalent losses given the absence of operational revenue.

Regulatory Compliance and Disclosure

Company Secretary Nayan Sablok submitted the mandatory newspaper clipping to the Department of Corporate Services at Bombay Stock Exchange and The Metropolitan Stock Exchange of India Ltd on 15th January, 2026. The financial results were published in Mumbai Lakshadeep (Marathi) and Financial Express (English) newspapers on 11th January, 2026, as required under Regulation 47(1)(a) of SEBI (LODR) Regulations, 2015.

Year-over-Year Comparison

Comparing with the corresponding quarter of the previous year, the company showed a complete halt in operational activities with zero revenue generation, down from ₹47.48 lakhs in Q2FY25. However, the company managed to significantly reduce its expense base from ₹386.41 lakhs to ₹8.81 lakhs, resulting in a substantially lower net loss compared to the previous year's ₹341.47 lakhs loss.

The earnings per share remained minimal at ₹0.002 for both basic and diluted calculations, reflecting the company's current operational challenges. The company maintains its paid-up equity share capital at ₹5,778.15 lakhs, unchanged from the previous periods.