The Investment Trust Of India530023Routine director change

Rashesh Praful Shah appointed Manager, KMP and SMP; board also approves Q2 and H1 results

The board of The Investment Trust of India appointed Mr. Rashesh Praful Shah as Manager, Key Managerial Personnel (KMP) and Senior Managerial Personnel (SMP) with effect from 04th November, 2026, subject to approval of the shareholders.

By ScoutQuest · Wed 4 Nov 2026, 7:42 PM IST · 2 min read

Total income (Q2): ₹473.31 lakh for the quarter
Loss after tax (Q2): ₹128.98 lakh
Loss after tax (H1): ₹108.59 lakh

Board outcome

The board of The Investment Trust of India met on Wednesday, November 04, 2026, from 03.30 PM to 05.20 PM. It considered and approved the unaudited financial results for the quarter and half year ended September 30, 2026, and an addition to the senior management team.

Management appointment

Mr. Rashesh Praful Shah has been appointed as the Manager, Key Managerial Personnel (KMP) and Senior Managerial Personnel (SMP) of the Company with effect from 04th November, 2026.
The appointment is subject to approval of the shareholders.

Results in numbers (standalone, unaudited, ₹ in lakhs)

Revenue from operations for the quarter ended September 30, 2026 was 198.80, while total expenses for the quarter were 654.15.
Total income for the quarter was 473.31, with other income contributing a substantial share.
Loss after tax for the quarter was 128.98, compared with a loss after tax of 32.29 in the quarter ended September 30, 2025.
For the half year, total income was 1,474.08 and loss after tax was 108.59, compared with a loss after tax of 19.57 in the half year ended September 30, 2025.

What this means

Costs ran ahead of income in the quarter, and the loss after tax for both the quarter and the half year is wider than in the same periods a year earlier.
The numbers are unaudited. The statutory auditors carried out a limited review and stated that nothing came to their attention that causes them to believe the statement contains a material misstatement.

Scheme of arrangement (emphasis of matter)

The board, on the recommendation of the Audit Committee, approved a scheme of arrangement among ITI Gilts Limited, ITI Wealth Management Limited, ITI Alternate Funds Management Limited and Fortune Management Advisors Limited (the transferor companies) and The Investment Trust of India Limited (the transferee company).
The scheme envisages amalgamation of the transferor companies with and into the transferee company under Section 233 of the Companies Act, 2013, with an appointed date of April 1, 2026.
It is subject to approval from the regulatory authorities, and takes effect once all approvals are received and the scheme becomes effective.

Bottom line

The announcement is a management change: the appointed person holds the Manager role along with KMP and SMP responsibilities from 04th November, 2026, subject to shareholder approval. The same board meeting approved results that show a loss after tax for the quarter and half year ended September 30, 2026.

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