Maha Rashtra Apex Corporation Completes Board Changes and Announces Financial Results for FY 2026
Maha Rashtra Apex Corporation Limited announced key changes to its board composition and leadership structure following a meeting held on May 26, 2026. The company also released its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026.Board Appointments and Changes
The Board of Directors approved several appointments, changes in directorship, and committee reconstitutions.Key appointments include:
- Mr. Cyrus Khambara was appointed as an Additional Director and Managing Director for a term of 5 years, effective from May 26, 2026. He is also designated as a Key Managerial Person.
- Mr. Jamsheed M Panday was appointed as an Additional Director and Executive Director for a term of 5 years, effective from May 26, 2026, and is also a Key Managerial Person.
- The designation of Mr. Bhoja K Shetty was changed from Non-Executive NonIndependent Director to Non-Executive-Independent Director.
The Board also accepted the resignations of Mr. Aspi Nariman Katgara (Managing Director), Mrs Vidya M More, and Mr. Nagarajan Sivaramakrishnan (Independent Directors), effective May 26, 2026, due to other professional commitments. Separately, Mr. Jamsheed M Panday resigned as Company Secretary and Compliance Officer, also effective May 26, 2026.
Effective May 26, 2026, Mr. Arvind Ganesh Mallya was appointed as the Company Secretary, Compliance Officer, and Key Managerial Personnel.
Committee Reconstitution
The Board of Directors approved the reconstitution of three key board committees:| Committee | Chairperson | Member(s) |
|---|---|---|
| Audit Committee | Mr. Bhoja K Shetty | Mr. Yazdin Mistry, Mrs. JyothiV B |
| Nomination and Remuneration Committee | Mrs. JyothiV B | Mr. Bhoja K Shetty, Mr. Yazdin Mistry |
| Stakeholders Relationship Committee | Mr. Yazdin Mistry | Mr. Bhoja K Shetty, Mrs. JyothiV B |
Audited Financial Results Overview
The company presented audited financial statements for the quarter and year ended March 31, 2026, along with standalone and consolidated Balance Sheets and Cash Flow Statements.Standalone Audited Financial Results (Rs. in lakhs)
| Particulars | Quarter Ended 31st March 2026 | Year Ended 31st March 2026 |
|---|---|---|
| Revenue from operations | 5.77 | 214.09 |
| Other operating revenue | 23.81 | 222.51 |
| TOTAL INCOME | 29.58 | 436.60 |
| TOTAL EXPENSES | 168.99 | 181.38 |
| Profit before tax | 330.40 | 1,581.05 |
| TOTAL COMPREHENSIVE INCOME | -830.86 | 1,636.87 |
| Earnings per equity share (Basic) | 1.93 | 8.30 |
The Standalone Balance Sheet as at March 31, 2026, shows a total asset value of 51,956.38 lakhs, compared to 52,822.32 lakhs in the previous year.
Consolidated Audited Financial Results (Rs. in lakhs)
| Particulars | Quarter Ended 31st March 2026 | Year Ended 31st March 2026 |
|---|---|---|
| Total Income | 474.13 | 791.10 |
| TOTAL EXPENSES | 284.78 | 284.78 |
| Profit before tax | 260.05 | 506.32 |
| TOTAL COMPREHENSIVE INCOME | -663.31 | 1,992.95 |
| Earnings per equity share (Basic) | -4.87 | 13.95 |
Qualified Audit Opinions Highlight
The company's independent auditors issued a qualified opinion on both the standalone and consolidated annual financial results for the year ended March 31, 2026.The qualification was based on the following finding:
- The Company has not provided for the Delayed Period Interest Cost on Deposit amount of Rs. 47.91 lakhs for the year ending March 31, 2026, and Rs. 11.95 lakhs for the quarter ending March 31, 2026.
- The cumulative impact of interest cost not provided from October 2019 to March 2026 is Rs. 381.67 lakhs, leading to an overstatement of profit and understatement of liability to that extent.
Management noted that interest was provided up to September 30, 2019, and provided a public notice indicating that no further delayed period interest was required as the company was ready to make final payments.
MAHAPEXLTD Stock Price Movement
Today, Maha Rashtra Apex Corporation Limited shares edged higher, closing at ₹50.75 after gaining 0.94%. The stock traded today on a volume of 18,901 shares, finding support between ₹50.41 and ₹52.98.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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