Board accepts resignations of Executive Director, promoter directors and other directors
Board on 3 Nov 2026 accepted resignations of Avinash Vora (Executive Director/Promoter), Vikram Vora (Non-Executive Non-Independent/Promoter), Kamlesh Mehta and Pradeep Joshi — all old management, effective 3 Nov 2026 after business hours.
By ScoutQuest · · 2 min read
- Quarterly Loss
- 1.83 (Rs. in lakhs) for the quarter ended 30 September 2026, against 55.36 (Rs. in lakhs) a year earlier
- Quarterly Revenue from Operations
- 126.43 (Rs. in lakhs), against 19.00 (Rs. in lakhs) in the same quarter a year earlier
- Half Year Loss
- 19.70 (Rs. in lakhs) for the half year ended 30 September 2026
What was decided
The board of Avi Products India met on Tuesday, 3 November 2026 and accepted these resignations with effect from 3 November 2026, after closing of business hours:
- Mr. Avinash Dhirajlal Vora (DIN: 02454059) - Executive Director and Promoter
- Mr. Vikram Avinash Vora (DIN: 02454043) - Non-Executive Non-Independent Director and Promoter
- Mr. Kamlesh Bhagwandas Mehta (DIN: 10748358) - Director
- Mr. Pradeep Himatlal Joshi (DIN: 02416091) - Director
The disclosure places each of them in the "Old Management", and cites a change in the management of the company as the reason. The resignation letters confirm there are no other material reasons behind the move, and each director is shown as holding no directorship in another listed entity.
The meeting ran from 12:30 P.M. to 2:20 P.M.
Results approved at the same meeting
The board also approved the standalone unaudited financial results for the quarter and half year ended 30 September 2026. S A R A & Associates, Chartered Accountants, reviewed them and stated that nothing came to their attention that suggested a material misstatement.
- Revenue from operations for the quarter: 126.43 (Rs. in lakhs), against 19.00 (Rs. in lakhs) in the same quarter a year earlier
- Loss for the quarter: 1.83 (Rs. in lakhs), against 55.36 (Rs. in lakhs) a year earlier
- Loss for the half year ended 30 September 2026: 19.70 (Rs. in lakhs)
- Loss for the year ended 31 March 2026: 192.44 (Rs. in lakhs)
Balance sheet markers (Rs. in lakhs)
- Total assets as at 30 September 2026: 497.32
- Cash and cash equivalents: 36.75
What a retail reader can take away
A board transition that removes the Executive Director and the promoter directors at one go is a material event, and the company itself links it to a change in management. Such transitions can raise questions about continuity of strategy and about who leads the company going forward.
On the operating side, the loss for the quarter is far smaller than the loss in the same quarter a year earlier, while revenue from operations is higher. Both the board change and the financial trend are the points to track from here.
Also from Avi Products India
Four directors resign; board also approves unaudited Q2 and half-year results
3 Nov 2026
Q2/H1 FY27 results approved; four directors resign, including promoters of the old management
3 Nov 2026
Board clears Q2 results; four directors resign citing change in management
3 Nov 2026
More numbers
- Revenue from operations, quarter ended 30 September 2026126.43 (Rs. in Lakhs)
- Revenue from operations, quarter ended 30 September 202519.00 (Rs. in Lakhs)
- Loss for the quarter ended 30 September 20261.83 (Rs. in Lakhs)
- Loss for the quarter ended 30 September 202555.36 (Rs. in Lakhs)
- Loss for the half year ended 30 September 202619.70 (Rs. in Lakhs)
- Loss for the year ended 31 March 2026192.44 (Rs. in Lakhs)
- Total assets as at 30 September 2026497.32 (Rs. in Lakhs)
- Cash and cash equivalents as at 30 September 202636.75 (Rs. in Lakhs)
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