STL Networks Reports Q2 Results, Announces Management Changes, and Sets AGM Date

STL Networks Reports Q2 Results, Announces Management Changes, and Sets AGM Date​

STL Networks Limited provided updates on its financial standing, key management changes, and governance structure following a Board Meeting held on July 28, 2026. The company disclosed unaudited consolidated and standalone financial results for the quarter ended June 30, 2026, confirmed continued utilization of funds raised through various instruments, and announced the details for its upcoming Annual General Meeting (AGM).

The Board meeting concluded with a discussion covering several key corporate matters, including the status of existing debt obligations, staff re-designations, and appointments.

Financial Performance and Review​

The unaudited consolidated financial results for the quarter ending June 30, 2026, were reviewed by Price Waterhouse Chartered Accountants LLP. The results included interim information from both reviewed and unreviewed subsidiaries.

One subsidiary reported total revenues of INR 28.88 Crores, along with a net profit after tax of INR 1.14 Crores and a comprehensive income of INR 1.14 Crores. This data was reviewed by another auditor who issued an unmodified conclusion.

Two other subsidiaries contributed interim financial information to the consolidated results, reflecting total revenue of Nil, a net loss after tax of INR 4.12 Crores, and a total comprehensive loss of INR 4.12 Crores. Management stated that this information is not material to the Group.

The company also confirmed the status of its Non-Convertible Debentures (NCD) as of June 30, 2026. The NCDs outstanding include:

Governance and Management Updates​

The Board Meeting approved several changes related to the company's leadership and financial controls:

Management Designations:
Significant organizational shifts were recorded regarding senior management personnel effective July 28, 2026:

• Mr. Arun Goyal was re-designated from Fiber BU-Head to Head Strategy & Business Development.
• Mr. B Lakshmiraman was re-designated from Interim Head Technology to Head Technology.

Financial Controls:
The company announced the re-appointment of Mr. Kiran Naik, Cost Accountant, as the Cost Auditor for the financial year 2026–27. Mr. Naik has over 40 years of experience in finance and cost audit.

Debt and Fund Utilization Status​

STL Networks reported that there was no material deviation or variation regarding the utilization of funds raised through Preferential Issue of Warrants. The company raised Rs. 27 Crores via warrants convertible into equity shares on a preferential basis on June 20, 2026. Of this amount, INR 25.00 Crores was utilized for the repayment or servicing of financial facilities availed by the Company, and the remaining funds were allocated to General Corporate Purposes.

Furthermore, the company confirmed Nil deviation in the utilization of proceeds raised through Non-Convertible Debentures for the quarter ended June 30, 2026.

AGM Details and Security Cover​

The Board meeting also addressed the upcoming Annual General Meeting (AGM). The 5th AGM is scheduled to be held on Tuesday, September 8, 2026, via Video Conferencing or Other Audio Visual Means. To determine member entitlement for voting at the ensuing AGM, the cut-off date has been set as Friday, August 28, 2026.

A review of security cover for the quarter ended June 30, 2026, was conducted by Price Waterhouse Chartered Accountants LLP. The company's financial information was found to be in agreement with the underlying unaudited books and records as at June 30, 2026, according to the audit report.

STLNETWORK Stock Price Movement​

Shares of STL Networks Limited shed 1.98% in live trading, currently valued at ₹25.2 as of 1:27 PM. The stock has seen significant market activity so far today, with 141,773 shares traded.