CFO change: Charmi Lodhiya resigns, Soham Lodhiya appointed; H1 results and 2.15 lakh share allotment approved
Board meeting of 19 October 2026 approved four matters.
By ScoutQuest · · 3 min read
- Revenue from operations (H1 FY27)
- ₹6,383.72 lakh
- Profit for the period (H1 FY27)
- ₹313.74 lakh
- EPS (H1 FY27, not annualised)
- ₹5.20
Four decisions taken at the 19 October 2026 board meeting
- Un-audited financial results for the half year ended 30 September 2026 were approved, as recommended by the Audit Committee.
- 2.15 lakh equity shares were allotted on conversion of 2.15 lakh warrants.
- Ms. Charmi Kamlesh Lodhiya resigned as Chief Financial Officer and Key Managerial Person.
- Mr. Soham Kamlesh Lodhiya was appointed Chief Financial Officer and Key Managerial Person.
Chief Financial Officer change
Ms. Charmi Kamlesh Lodhiya tendered her resignation as CFO on 19 October 2026, citing better career growth, and her last working day as CFO was 19 October 2026. She continues to serve as a Whole-time Director of the company.
The board appointed Mr. Soham Kamlesh Lodhiya as CFO and Key Managerial Person with effect from 19 October 2026. The update says he has been a Whole-time Director since 3 September 2025, belongs to the promoter group and has been associated with the business since inception. He holds a Bachelor's Degree in Architecture. The update also notes he is a relative of Mr. Kamlesh Lodhiya (Managing Director), Ms. Charmi Lodhiya (Whole Time Director) and Mrs. Pratibha Lodhiya (Non-executive Director).
Share allotment on warrant conversion
The board allotted 2.15 lakh equity shares of Rs. 10/- each at Rs. 31.30/- per share, including a premium of Rs. 21.30/- per share, on conversion of 2.15 lakh warrants (one warrant into one equity share), after receipt of the balance consideration of 75% of the issue price. Total consideration is Rs. 67,29,500, allotted to Soham Kamlesh Lodhiya. The new shares rank pari-passu with the existing equity shares and are to be listed on BSE.
Half-year results (₹ in Lakhs)
- Revenue from operations: 6,383.72 for the half year ended 30 September 2026, against 6,000.78 for the half year ended 30 September 2025.
- Profit before tax: 419.27, against 47.95.
- Profit for the period: 313.74, against 35.75.
- Total expenses: 5,965.58, against 5,961.76.
- Earnings per share (face value ₹10/-, not annualised, basic and diluted): 5.20, against 0.76.
Balance sheet and cash flow
- Total assets: 3,740.95 as at 30 September 2026, against 1,844.05 as at 31 March 2026.
- Trade receivables: 1,847.33, against 157.41.
- Inventories: 1,643.27, against 1,550.56.
- Trade payables (other than micro and small enterprises): 1,042.36, against 5.12.
- Cash and bank balances: 65.79, against 13.95.
- Net cash flow from operating activities: 52.02 for the half year, against (1,208.59) shown for the year ended 31 March 2026.
Use of preferential issue money
The statement of deviation or variation shows a total issue size of Rs. 985.95 Lakhs, of which Rs. 818.11 Lakhs had been raised as on 30 September 2026 — 203.45 Lakhs from equity shares, 558.71 Lakhs from conversion of warrants into equity shares and 55.95 Lakhs from share warrants. Against an allocation of 788.76 for working capital, 788.76 was utilised; against 197.19 for general corporate purposes, 29.35 was utilised. The update states there is no deviation or variation in the use of funds raised.
Points a reader may note
- The update uses the word resignation for the CFO role, and the outgoing CFO remains on the board as a Whole-time Director.
- The incoming CFO is from the promoter group and was already a Whole-time Director of the company.
- The statutory auditors carried out a limited review of the un-audited results and their report records that nothing came to their attention suggesting the statement is not in line with the applicable standards.
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More numbers
- Equity shares allotted on conversion of warrants2,15,000
- Issue price per equity shareRs. 31.30/-
- Total consideration for the allotment67,29,500
- Revenue from operations, half year ended 30 September 20266,383.72 (₹ in Lakhs)
- Profit for the period, half year ended 30 September 2026313.74 (₹ in Lakhs)
- Profit for the period, half year ended 30 September 202535.75 (₹ in Lakhs)
- Earnings per share, basic and diluted (not annualised)5.20
- Total amount raised from preferential issue as on 30-09-2026818.11 Lakhs
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