Colorchips New Media Ltd Approves Annual Report and Recommends Appointment of Managing Director
The Board of Directors at Colorchips New Media Ltd conducted a meeting on July 30, 2026, and transacted several key matters for the company. The board approved the company's 41st Annual Report for Fiscal Year 2025-26 and determined the schedule for the upcoming Annual General Meeting (AGM).The company announced that its 41st AGM will be held on Tuesday, August 25, 2026. The meeting is scheduled to take place at 11:30 AM via VC/OAVM.
Board Decision and Management Appointment
During the meeting, the board also recommended seeking shareholder approval for the appointment of Mr. Shankar Ravi Chaganty as the Managing Director of Colorchips New Media Ltd. This recommendation follows a review of the candidate's profile and qualifications.The details pertaining to the suggested appointment and the company’s financial year are provided below:
| Particulars | Details |
|---|---|
| Reason for Appointment | Mr. Shankar Ravi Chaganty has been appointed as Managing Director in view of his strong credentials and diverse knowledge in the field of Accountancy. |
| Appointment Details | The appointment is proposed for a term of five consecutive years, effective from May 26, 2026, subject to shareholder approval. |
| Profile | Mr. Shankar Ravi Chaganty, aged 58 years, holds a Bachelor of Commerce degree from Andhra University. He possesses over 34 years of experience in Administration, encompassing multi-tasking such as liaison, purchase, marketing, correspondence, coordination, and infrastructure maintenance. |
| Relationship Disclosure | Mr. Shankar Ravi Chaganty is not related to any Director(s) of the Company. |
Stock Price Movement
On Thursday, Colorchips New Media Ltd shares closed at ₹10.55, posting a strong gain of 6.46% in the post-market session. The equity traded within an intraday range, having moved between a low of ₹9.87 and a high of ₹10.79.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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