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Latest filing: 2026-10-07 18:06
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6 announcements match the current filters (relevance ≥ 5).
Nivaka Fashions CFO & Executive Director Mitesh Ajit Thakkar Resigns
Nivaka Fashions announced that Mr. Mitesh Ajit Thakkar has resigned from his positions as Chief Financial Officer (CFO) and Executive Director, effective October 7, 2026. The resignation is cited to be due to preoccupation with work and other professional commitments. The departure comes amid stressed financial performance, with the company reporting a net loss of Rs 5.21 crore on negligible revenue of Rs 0.18 crore in FY26.
Confidence: HIGH
What changedMr. Mitesh Ajit Thakkar stepped down from the roles of Chief Financial Officer and Executive Director on October 7, 2026.
Why it mattersA sudden departure of the CFO is critical for a micro-cap company currently undergoing acute financial stress and operating losses.
Effective resignation date: 07-10-2026Director DIN: 06994888FY26 Net Loss: Rs -5.21 Cr
📅 Short termMay weigh negatively on investor sentiment given the abrupt leadership vacancy in finance amid operational headwinds.
📈 Long termCompany's stability hinges on establishing a sustainable business model and finding competent leadership to halt continuing cash burn.
⚠ Risk flags
- Key management vacancy (CFO)
- Severe business downturn and persistent quarterly losses
- Micro-cap illiquidity with market cap of only ~Rs 7 Cr
Key Highlights
Mr. Mitesh Ajit Thakkar resigned as CFO and Executive Director effective October 7, 2026
Reason cited was preoccupation with work and other evolving professional commitments
Company reported an annual net loss of Rs 5.21 crore against revenue of Rs 0.18 crore for FY26
👀 What to Watch
Watch for the appointment of a new CFO to oversee the company's financial governance and assess upcoming quarterly results for signs of operational stabilization.
Nivaka Fashions CFO & Executive Director Mitesh Ajit Thakkar Resigns
Nivaka Fashions announced that Mr. Mitesh Ajit Thakkar has resigned from his positions as Chief Financial Officer (CFO) and Executive Director, effective October 7, 2026. The resignation is cited to be due to preoccupation with work and other professional commitments. The departure comes amid stressed financial performance, with the company reporting a net loss of Rs 5.21 crore on negligible revenue of Rs 0.18 crore in FY26.
Confidence: HIGH
What changedMr. Mitesh Ajit Thakkar stepped down from the roles of Chief Financial Officer and Executive Director on October 7, 2026.
Why it mattersA sudden departure of the CFO is critical for a micro-cap company currently undergoing acute financial stress and operating losses.
Effective resignation date: 07-10-2026Director DIN: 06994888FY26 Net Loss: Rs -5.21 Cr
📅 Short termMay weigh negatively on investor sentiment given the abrupt leadership vacancy in finance amid operational headwinds.
📈 Long termCompany's stability hinges on establishing a sustainable business model and finding competent leadership to halt continuing cash burn.
⚠ Risk flags
- Key management vacancy (CFO)
- Severe business downturn and persistent quarterly losses
- Micro-cap illiquidity with market cap of only ~Rs 7 Cr
Key Highlights
Mr. Mitesh Ajit Thakkar resigned as CFO and Executive Director effective October 7, 2026
Reason cited was preoccupation with work and other evolving professional commitments
Company reported an annual net loss of Rs 5.21 crore against revenue of Rs 0.18 crore for FY26
👀 What to Watch
Watch for the appointment of a new CFO to oversee the company's financial governance and assess upcoming quarterly results for signs of operational stabilization.
Nivaka Fashions CFO & Executive Director Mitesh Ajit Thakkar Resigns
Nivaka Fashions announced that Mr. Mitesh Ajit Thakkar has resigned from his positions as Chief Financial Officer (CFO) and Executive Director, effective October 7, 2026. The resignation is cited to be due to preoccupation with work and other professional commitments. The departure comes amid stressed financial performance, with the company reporting a net loss of Rs 5.21 crore on negligible revenue of Rs 0.18 crore in FY26.
Confidence: HIGH
What changedMr. Mitesh Ajit Thakkar stepped down from the roles of Chief Financial Officer and Executive Director on October 7, 2026.
Why it mattersA sudden departure of the CFO is critical for a micro-cap company currently undergoing acute financial stress and operating losses.
Effective resignation date: 07-10-2026Director DIN: 06994888FY26 Net Loss: Rs -5.21 Cr
📅 Short termMay weigh negatively on investor sentiment given the abrupt leadership vacancy in finance amid operational headwinds.
📈 Long termCompany's stability hinges on establishing a sustainable business model and finding competent leadership to halt continuing cash burn.
⚠ Risk flags
- Key management vacancy (CFO)
- Severe business downturn and persistent quarterly losses
- Micro-cap illiquidity with market cap of only ~Rs 7 Cr
Key Highlights
Mr. Mitesh Ajit Thakkar resigned as CFO and Executive Director effective October 7, 2026
Reason cited was preoccupation with work and other evolving professional commitments
Company reported an annual net loss of Rs 5.21 crore against revenue of Rs 0.18 crore for FY26
👀 What to Watch
Watch for the appointment of a new CFO to oversee the company's financial governance and assess upcoming quarterly results for signs of operational stabilization.
Nivaka Fashions CFO & Executive Director Mitesh Ajit Thakkar Resigns
Nivaka Fashions announced that Mr. Mitesh Ajit Thakkar has resigned from his positions as Chief Financial Officer (CFO) and Executive Director, effective October 7, 2026. The resignation is cited to be due to preoccupation with work and other professional commitments. The departure comes amid stressed financial performance, with the company reporting a net loss of Rs 5.21 crore on negligible revenue of Rs 0.18 crore in FY26.
Confidence: HIGH
What changedMr. Mitesh Ajit Thakkar stepped down from the roles of Chief Financial Officer and Executive Director on October 7, 2026.
Why it mattersA sudden departure of the CFO is critical for a micro-cap company currently undergoing acute financial stress and operating losses.
Effective resignation date: 07-10-2026Director DIN: 06994888FY26 Net Loss: Rs -5.21 Cr
📅 Short termMay weigh negatively on investor sentiment given the abrupt leadership vacancy in finance amid operational headwinds.
📈 Long termCompany's stability hinges on establishing a sustainable business model and finding competent leadership to halt continuing cash burn.
⚠ Risk flags
- Key management vacancy (CFO)
- Severe business downturn and persistent quarterly losses
- Micro-cap illiquidity with market cap of only ~Rs 7 Cr
Key Highlights
Mr. Mitesh Ajit Thakkar resigned as CFO and Executive Director effective October 7, 2026
Reason cited was preoccupation with work and other evolving professional commitments
Company reported an annual net loss of Rs 5.21 crore against revenue of Rs 0.18 crore for FY26
👀 What to Watch
Watch for the appointment of a new CFO to oversee the company's financial governance and assess upcoming quarterly results for signs of operational stabilization.
Q1 FY27 Net Loss Narrows to ₹15.05 Lakhs; Revenue from Operations Remains Nil
Nivaka Fashions reported zero revenue from operations for the quarter ended June 30, 2026, with total revenue consisting solely of other operating income of ₹1.25 lakhs compared to ₹5.20 lakhs in Q1 FY26. Total expenses dropped sharply to ₹16.41 lakhs from ₹53.39 lakhs in the year-ago period and ₹364.35 lakhs in Q4 FY26, primarily due to lower other expenses and employee costs. Consequently, standalone net loss narrowed to ₹15.05 lakhs compared to a loss of ₹47.65 lakhs in Q1 FY26 and ₹361.14 lakhs in Q4 FY26. EPS for the quarter stood at ₹(0.01) versus ₹(0.05) in Q1 FY26.
Confidence: HIGH
What changedNivaka Fashions released its Q1 FY27 standalone unaudited financial results, reporting continued absence of core operational revenue and a narrowed net loss.
Why it mattersThe complete lack of operating revenue reflects an idle core business, keeping the company financially stressed despite reduced expenditure.
Revenue from Operations: NilTotal Revenue: ₹1.25 LacsNet Loss: ₹(15.05) LacsTotal Expenses: ₹16.41 LacsDiluted EPS: ₹(0.01)
📅 Short termTrading sentiment is likely to remain muted given zero core operational activity and persistent losses.
📈 Long termLimited business viability unless the company manages to re-establish sustainable commercial revenue streams.
⚠ Risk flags
- Zero revenue from core operations
- Auditor emphasis on unconfirmed trade receivables, payables, and advances
- Persistent operational and net losses
Key Highlights
Revenue from operations stood at Nil for the quarter, compared to ₹1.04 lakhs in Q1 FY26
Net loss narrowed to ₹15.05 lakhs from ₹47.65 lakhs in Q1 FY26 and ₹361.14 lakhs in Q4 FY26
Total expenses declined to ₹16.41 lakhs compared to ₹53.39 lakhs in Q1 FY26
Statutory auditor noted that balances of trade receivables, payables, advances, and deposits are subject to confirmations and reconciliation
👀 What to Watch
Track whether the company is able to restart core business operations and resolve the unconfirmed balances noted by statutory auditors in upcoming filings.
Q1 Net Loss at ₹15.05 Lacs on Total Revenue of ₹1.25 Lacs; Zero Core Operations Revenue
Nivaka Fashions reported a standalone net loss of ₹15.05 lacs for the quarter ended June 30, 2026, compared to a net loss of ₹47.65 lacs in the year-ago period and a loss of ₹361.14 lacs in Q4 FY26. Total revenue was ₹1.25 lacs, driven entirely by other operating income, with zero revenue reported from core operations. Total expenses contracted to ₹16.41 lacs from ₹53.39 lacs in Q1 FY26, primarily driven by ₹10.21 lacs in employee costs. The statutory auditor issued an unqualified review report with a note on unconfirmed trade and deposit balances.
Confidence: HIGH
What changedNivaka Fashions announced its Q1 FY27 financial results, posting a reduced net loss of ₹15.05 lacs amidst zero core operational turnover.
Why it mattersThe company continues to face severe operational stagnation with virtually no revenue generation, keeping margins and net worth under continuous strain.
Total Revenue (Q1 FY27): ₹1.25 LacsRevenue from Operations: ₹0.00 LacsNet Loss (Q1 FY27): ₹15.05 LacsTotal Expenses (Q1 FY27): ₹16.41 LacsPaid-up Equity Capital: ₹1,026.90 Lacs
📅 Short termThe results demonstrate an absence of business activity, providing no operational catalyst in the near term.
📈 Long termStructural challenges remain high given chronic lack of core revenue and persistent depletion of financial resources.
⚠ Risk flags
- Zero revenue from core operations
- Auditor note regarding unconfirmed trade receivables, payables, and advances
- Persistent operational and net losses
Key Highlights
Net loss for Q1 FY27 stood at ₹15.05 lacs versus a loss of ₹47.65 lacs in Q1 FY26
Revenue from operations was ₹0.00, with total revenue at ₹1.25 lacs from other operating income
Total expenses dropped to ₹16.41 lacs, including ₹10.21 lacs of employee benefit expenses
Auditor ADV & Associates highlighted that trade receivables, payables, and advances are subject to confirmation and reconciliation
👀 What to Watch
Monitor whether the company can restart core trading operations in upcoming quarters and clear unconfirmed balance reconciliations.
