Board clears Q2 results; four directors resign citing change in management
Board meeting on 3 Nov 2026 approved the standalone unaudited results for the quarter and half year ended 30 September 2026.
By ScoutQuest · · 2 min read
- Revenue from operations (quarter)
- Rs. 126.43 lakh, against Rs. 19.00 lakh a year earlier
- Loss for the quarter
- Rs. 1.83 lakh
- Directors resigning
- Four directors, including two promoters, resigned with effect from 3 Nov 2026
The board of AVI Products India Ltd met on 3 November 2026 and approved two things: the standalone unaudited financial results for the quarter and half year ended 30 September 2026, and the resignation of four of its directors.
Quarterly numbers
- Revenue from operations was Rs. 126.43 lakh for the quarter ended 30 September 2026, against Rs. 19.00 lakh in the same quarter a year earlier.
- The company reported a loss of Rs. 1.83 lakh for the quarter.
- For the half year ended 30 September 2026, the loss was Rs. 19.70 lakh, against Rs. 94.98 lakh in the same half of the previous year.
Balance sheet and cash
- Total assets stood at Rs. 497.32 lakh as at 30 September 2026.
- Cash and cash equivalents were Rs. 36.75 lakh.
Segments
The company operates in two business segments, Real Estate and Dental Products. In the quarter, Dental Products accounted for Rs. 106.43 lakh of the Rs. 126.43 lakh revenue from operations.
Board changes
The board accepted the resignations of Mr. Avinash Dhirajlal Vora (Executive Director and Promoter), Mr. Vikram Avinash Vora (Non-Executive Non-Independent Director and Promoter), Mr. Kamlesh Bhagwandas Mehta and Mr. Pradeep Himatlal Joshi, with effect from 3 November 2026 after closing of business hours. The resignation letters state the reason as a change in the management of the Company and the director being part of the old management.
What the disclosures show
- The results are standalone and unaudited, and carry a limited review report from the statutory auditors S A R A & Associates, who state that nothing came to their attention that causes them to believe the statement is materially misstated.
- The exchange update is a cessation disclosure, recording the exits and the reason given in the resignation letters.
- The update records that Mr. Avinash Dhirajlal Vora held no directorship in other listed entities, and the same is stated for each of the other three resigning directors.
Also from Avi Products India
Four directors resign; board also approves unaudited Q2 and half-year results
3 Nov 2026
Board accepts resignations of Executive Director, promoter directors and other directors
3 Nov 2026
Q2/H1 FY27 results approved; four directors resign, including promoters of the old management
3 Nov 2026
More numbers
- Revenue from operations, quarter ended 30 Sept 2026 (Rs. in lakh)126.43
- Revenue from operations, quarter ended 30 Sept 2025 (Rs. in lakh)19.00
- Loss for the period, quarter ended 30 Sept 2026 (Rs. in lakh)(1.83)
- Loss for the period, half year ended 30 Sept 2026 (Rs. in lakh)(19.70)
- Loss for the period, half year ended 30 Sept 2025 (Rs. in lakh)(94.98)
- Total assets as at 30 Sept 2026 (Rs. in lakh)497.32
- Cash and cash equivalents as at 30 Sept 2026 (Rs. in lakh)36.75
- Dental Products segment revenue, quarter ended 30 Sept 2026 (Rs. in lakh)106.43
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