Board approves whole-time director re-appointment; Q2 standalone loss Rs. 29.79 lakh
Board approved re-appointment of Mr. Narender Saini (DIN: 10424157) as Whole-Time Director for 3 consecutive years, from December 12, 2026 to December 11, 2029, subject to members' approval.
By ScoutQuest · · 2 min read
- Q2 Loss
- Rs. 29.79 lakh (vs Rs. 54.59 lakh a year ago)
- Half-Year Loss
- Rs. 62.43 lakh
- Whole-Time Director Remuneration
- not exceeding Rs. 6,00,000/- p.a.
Two board decisions
The board of Sterling Green Woods met on Wednesday, November 4, 2026 and approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, along with the re-appointment of Mr. Narender Saini as Whole-Time Director.
The re-appointment in detail
- Mr. Narender Saini (DIN: 10424157) has been re-appointed as Whole-Time Director of the company with effect from December 12, 2026.
- The term is 3 consecutive years, running from December 12, 2026 to December 11, 2029 (both days inclusive).
- The decision is on the recommendation of the Nomination and Remuneration Committee and is subject to approval of members at the ensuing General Meeting.
- Remuneration shall not exceed Rs. 6,00,000/- p.a.
- The update states he is not related to any of the directors of the company, and is not debarred from holding the office of a director by virtue of any order of SEBI or such other authority.
- His profile in the update describes experience in managing operations, training and development, and customer relationship management.
What the numbers show
The results are stated in Rs. lakh.
- Net sales/income from operations for the quarter was 7.00, against nil in the same quarter a year earlier; total income for the quarter was 8.84.
- Loss for the quarter was 29.79, compared with a loss of 54.59 in the same quarter a year earlier.
- Loss for the half year was 62.43.
- Current borrowings stood at 1358.93 at September 30, 2026.
The results carry limited review reports from the statutory auditors and were reviewed by the Audit Committee and approved by the board at their respective meetings.
Business model in transition
The company states that it was previously engaged in two reportable segments, Real Estate and Resorts & Club Membership, under Ind AS 108. Following a lease agreement entered into with Pushpadevi Goenka Trust on April 1, 2024, it says its business model is undergoing a transition, and segment-wise revenue, results and capital employed are therefore not presented for the current period.
Other notes to the results refer to legal and tax matters relating to earlier periods, including proceedings the company says are sub judice or under assessment, and a receivable from a former regional manager for which a provision was created as an expected credit loss.
How a retail investor can read this
- A whole-time director re-appointment is an executive leadership decision; here it still needs a shareholder vote at the general meeting, so the change takes effect from December 12, 2026 only if members approve it.
- The quarterly numbers show a loss, but the quarter's loss is lower than in the same quarter a year earlier; both facts are worth reading together.
- The segment disclosure change follows the company's stated transition in how the business operates, so revenue and result comparisons across periods may not be like-for-like.
Also from Sterling Green Woods
Consolidated results for the quarter Ended 7/1/2026 - 9/30/2026 (Unaudited)
4 Nov 2026
Board Meeting on 4 November 2026 to Approve Un-audited Results for Quarter and Half Year Ended 30 September 2026
28 Oct 2026
More numbers
- Remuneration not exceeding, per annumRs. 6,00,000/- p.a.
- Term of re-appointment as Whole-Time Director3 consecutive years
- Net sales/income from operations, Q2 standalone (Rs. in lakh)7.00
- Total income, Q2 standalone (Rs. in lakh)8.84
- Loss for the quarter, standalone (Rs. in lakh)(29.79)
- Loss for the quarter a year earlier, standalone (Rs. in lakh)(54.59)
- Loss for the half year, standalone (Rs. in lakh)(62.43)
- Current borrowings, standalone, as at 30/09/2026 (Rs. in lakh)1358.93
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