Newtrac Foods & Beverages Limited, formerly known as Markobenz Ventures Limited, has issued a regulatory filing to the Bombay Stock Exchange (BSE) announcing key decisions made at its Board of Directors' meeting held on July 28, 2025. The disclosure was made pursuant to Regulations 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This filing includes two significant resolutions:

1. Approval of Unaudited Financial Results for the Quarter Ended June 30, 2025

The Board of Directors of Newtrac Foods & Beverages Limited reviewed and approved the Unaudited Financial Results of the Company for the first quarter of the financial year 2025–26 (Q1 FY26). These results were also accompanied by a Limited Review Report provided by the Statutory Auditors, as per standard regulatory requirements.

The company has not disclosed the detailed numbers within the letter, but a copy of the financial results and the auditor’s limited review report was submitted to the exchange. These unaudited results are crucial for investors as they offer insights into the operational and financial performance of the company during the first quarter of the current fiscal year.

2. Termination of Mr. Vishal Kelkar as CEO

The more notable development, however, is the removal of Mr. Vishal Kelkar from the position of Chief Executive Officer (CEO) of the company. As per the disclosure:

• Mr. Kelkar was appointed specifically to lead and execute the Holkar Project, which was presumably a strategic initiative for the company.

• However, due to non-fulfillment of the terms and conditions related to the Holkar Project, and because the project did not progress as expected, the Board decided to discontinue his services with immediate effect.

The Board’s decision to relieve Mr. Kelkar of his duties indicates a setback or possible reevaluation of the Holkar Project itself, though the filing does not specify whether the project has been officially shelved or is undergoing restructuring.

Board Meeting Duration and Compliance

The Board meeting commenced at 6:00 PM and concluded at 7:00 PM on July 28, 2025. This information is included as part of compliance with SEBI LODR norms, ensuring that market participants are aware of the timeframe during which material decisions were made.

The communication has been signed off by Mr. Bhavin Yogesh Shukla, the Managing Director (DIN: 10718852), who is now the primary signatory for company communications.

Company Background: Transition from Markobenz Ventures to Newtrac Foods

It is important to note that the company, now operating under the name Newtrac Foods & Beverages Limited, was formerly known as Markobenz Ventures Limited. The rebranding or name change indicates a possible strategic shift in focus, possibly from ventures-based business operations toward food and beverages—a sector that demands operational agility, regulatory compliance, and consistent innovation.

Such a change often leads to new project launches like the Holkar Project, which appears to have been central to the company’s recent strategy. Unfortunately, with the removal of Mr. Kelkar and termination of his association due to unsatisfactory project delivery, the company might have to either restructure or abandon this initiative.

Implications for Shareholders and Stakeholders

For shareholders, the removal of the CEO and the approved Q1 results will be two key indicators of the company’s direction and leadership stability. The market may respond based on:

• The company’s financial performance in Q1 FY26, once publicly available.

• The leadership void or transition plan post Mr. Kelkar’s exit.

• The future of the Holkar Project, which may have had implications on the company’s growth trajectory.

Investors and stakeholders would be keen to know whether a replacement CEO will be announced, and whether the company plans to reallocate resources from the Holkar Project to other initiatives.

Regulatory and Corporate Governance Observations

The filing aligns with SEBI-mandated disclosure practices under Regulation 30 (Material Events and Information) and Regulation 33 (Submission of Financial Results) of the SEBI LODR, 2015. The Board’s transparent declaration regarding executive removal and timely submission of financials with supporting audit review displays corporate governance compliance.

Conclusion

The twin developments announced by Newtrac Foods & Beverages Limited mark a pivotal point in the company’s operational and strategic journey:

• The approval of unaudited financial results for Q1 FY26 will shed light on the firm’s revenue trajectory and cost structures post its name and business model transformation.

• The termination of Mr. Vishal Kelkar due to failure in delivering on the Holkar Project’s expectations signals a course correction, suggesting the company’s commitment to performance-based leadership.

It remains to be seen how Newtrac plans to manage the leadership vacuum, and whether the Holkar Project will see revival under new stewardship or be discontinued altogether.

Further clarity may emerge once the full financial results are publicly accessible and the company shares its future strategy and leadership appointments in upcoming disclosures or investor calls.

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