iStreet Network Limited, a company listed on BSE, announced major updates following its Board of Directors meeting held on 29th July 2025. The board approved the unaudited financial results for the quarter ended 30th June 2025, and also made significant additions to its leadership team. These developments indicate a key strategic shift as the company embarks on a new phase of transformation.

The board meeting outcome includes the appointment of four directors:

1. Mr. Padmanabhan Desikachari – Appointed as Additional Non-Executive Non-Independent Director. With over 40 years of industry experience, he has served in key technology leadership roles, including Infosys, where he was the architect behind Finacle, the core banking system. His contributions to AI, machine learning, digital payments, and system architecture are expected to bring immense value. He also founded Appnomic Systems and Obopay, and is currently involved with Indygen, which specializes in AI-driven security platforms.

2. Mr. Yash Maheshwari – Appointed as Additional Non-Executive Non-Independent Director, he is a Chartered Financial Analyst Level I pass holder and a Commerce graduate from the University of Delhi. His background adds financial depth to the board and reflects the growing emphasis on financial stewardship and capital market insight.

3. Mr. Eric Anklesaria – Appointed as Additional Non-Executive Independent Director for a term of five years. He holds a PG in Business Administration from XLRI, and certifications from IIM Ahmedabad and Bombay Management Association. His past associations include Ernst & Young, PSB Alliance Pvt Ltd., Nangia Andersen, and others. He is renowned for expertise in digital transformation, core banking, strategic planning, and IT implementation.

4. Mr. Satish Goel – Appointed as Additional Non-Executive Independent Director for five years. A Chartered Accountant and commerce graduate from Punjab University, he brings over 34 years of expertise in finance, taxation, international banking, and corporate law. His experience also includes being a Non-Official Director at Corporation Bank, appointed by the Ministry of Finance.

These appointments aim to harness new business opportunities under refreshed leadership, demonstrating iStreet Network's intent to expand its capabilities and enhance governance.

The company also presented its financial performance for Q1 FY26:

• Revenue from operations jumped to ₹1,322.68 lakhs, a significant increase over the previous periods.

• Total income for the quarter reached ₹1,502.68 lakhs.

• Profit after tax was reported at ₹246.83 lakhs, up from ₹34.59 lakhs in Q4 FY25 and a turnaround from a loss of ₹3.33 lakhs in Q1 FY25.

• Earnings per share (EPS) stood at ₹1.16, compared to ₹0.16 in Q4 FY25 and a negative EPS in the previous year’s quarter.

These figures reflect robust operational performance and enhanced revenue generation, signaling financial recovery and improved market position.

As per Note 3 in the financial report, a Share Purchase Agreement (SPA) was executed on 13th January 2025 between Mr. Uttam I Dave and Mr. Yash Maheshwari (acquirers) and the existing promoters. This SPA involves acquisition of 85 lakh shares, indicating a substantial change in control and management. The process is reportedly nearing completion, and aligns with the company’s long-term transformation strategy.

A Limited Review Report from S M M P & Company, Chartered Accountants, confirms that the quarterly results have been prepared in accordance with Indian Accounting Standards (Ind AS 34). The audit review does not contain any material misstatement, reinforcing transparency and credibility.

Other notable observations include:

• Absence of finance cost indicates low leverage.

• Operational efficiency was achieved through inventory control and streamlined expenditure.

• All appointments comply with SEBI’s guidelines, and none of the newly appointed directors are debarred by any regulatory body.

The company’s focus on digital transformation, AI, fintech, and financial strategy under new leadership is a key theme that emerges from the board decisions. With the combination of financial expertise, technology leadership, and regulatory acumen, iStreet Network is gearing up for a new growth phase in FY26.

These developments, coupled with improved financials, are expected to increase investor confidence, especially in light of the upcoming shareholding change. The leadership revamp is designed not just to meet regulatory expectations but to reshape the company’s strategic roadmap.

In conclusion, the announcements made on 29th July 2025 during the board meeting signal a bold new chapter for iStreet Network Limited. The strong Q1 FY26 results, combined with the strategic appointment of four high-profile directors, and the ongoing change in promoter shareholding, indicate a proactive approach towards sustainable growth and innovation. With a sharpened focus on leadership, financial performance, and digital advancement, the company is well-positioned to achieve long-term value creation in the competitive marketplace.

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