Accord Synergy Limited (ACCORD)
Latest quarterly results (H2 FY26)
In its latest reported quarter, H2 FY26, Accord Synergy's revenue was ₹17.7 Cr (+22.8% year on year, -7.6% on the previous half-year), and net profit ₹0.2 Cr (against a loss a year earlier); the operating margin was 1.0%.
| H2 FY26 (₹ Cr) | Value | YoY vs H2 FY25 | vs prev. half |
|---|---|---|---|
| Revenue | ₹17.7 | +22.8% | -7.6% |
| Operating profit | ₹0.2 | from loss | -76.1% |
| Net profit | ₹0.2 | from loss | -84.3% |
| EPS (₹) | 0.52 | from loss | -84.3% |
| Operating margin | 1.0% | — | — |
📢 Recent Corporate Announcements
Accord Synergy Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was issued by the company's Registrar and Share Transfer Agent, MUFG Intime India Private Limited, on October 3, 2026. It confirms that all securities received for dematerialisation during the quarter were duly processed, confirmed, or rejected, and the relevant certificates were mutilated and cancelled. This is a standard quarterly regulatory compliance filing with no impact on business operations or financials.
- Compliance certificate filed pursuant to Regulation 74(5) of SEBI Regulations, 2018
- Covers the quarter ended 30th September 2026
- Issued by RTA MUFG Intime India Private Limited on 03-10-2026
- Formal submission to National Stock Exchange completed on 13th Oct, 2026
Accord Synergy held its Annual General Meeting on September 30, 2026, transacting 18 resolutions. Key proposals included doubling the company's authorized share capital from Rs 5,00,00,000 to Rs 10,00,00,000, increasing borrowing powers, and approving multiple material related-party transactions with KP Group entities (such as KPI Green Energy and KP Green Engineering). The meeting also considered statutory auditor appointments following a casual vacancy and multiple director appointments.
- AGM held on September 30, 2026, via VC/OAVM, attended by 10 shareholders (2 promoter, 8 public)
- Proposed doubling of authorized share capital from Rs 5,00,00,000 to Rs 10,00,00,000
- Approval sought for material related-party transactions with KP Green Engineering, KP Energy OMS, KPI Green Energy, Sun Drops Energia, and Haveliwala & Sons
- Total shareholder count stood at 177 as of the cut-off date of September 23, 2026
Accord Synergy Limited announced that Mr. Rajnikant Prabhudas Mandavia has resigned from his position as Non-Executive Independent Director, effective September 29, 2026. The director confirmed there are no other material reasons for his departure. Accord Synergy is a micro-cap company with a market cap of ₹67 Cr and TTM revenue of ₹64 Cr. The filing does not report any operational disruption arising from this exit.
- Resignation of Non-Executive Independent Director Rajnikant Prabhudas Mandavia (DIN: 05111759) announced.
- Cessation is effective from September 29, 2026.
- Director holds directorships in 0 other listed entities.
- Confirmation provided that there are no material reasons for resignation other than stated.
Accord Synergy announced the simultaneous resignations of four top board members on 16 September 2026: Chairman Asdullakhan Pathan, Managing Director Betulla Khan Asdulla, and Whole-time Directors Roli Khan Betulla and Ritu Chaudhari Negi. The departures follow the induction of Mr. Faruk Patel as a Promoter and are stated to be part of a strategic leadership restructuring. Despite a massive 762.5% stock rally over the past 12 months, the company remains thinly profitable, posting a TTM net profit of Rs 0 Cr on Rs 64 Cr revenue.
- Resignation of 4 board members including Chairman, MD, and 2 Whole-time Directors dated 16 September 2026
- Chairman Asdullakhan Pathan steps down after serving on the board since 13 May 2015
- Managing Director Betulla Khan Asdulla and Director Roli Khan Betulla step down after serving since 19 June 2014
- Whole-time Director Ritu Chaudhari Negi resigns after serving since 14 March 2015
- Resignations explicitly cite strategic restructuring following the entry of Mr. Faruk Patel as a Promoter
Accord Synergy Limited announced the resignation of Nishesh Kumar Sinha (DIN: 11389023) from the position of Additional Independent Director. In the resignation letter, the director cited personal reasons and other professional commitments, confirming there are no other material reasons. The micro-cap company currently operates with a market cap of approximately ₹67 crore and TTM revenue of ₹64 crore.
- Nishesh Kumar Sinha (DIN: 11389023) resigned as Additional Independent Director
- Reason cited was personal reasons and other professional commitments
- Confirmed that there are no other material reasons for the resignation
Accord Synergy announced the simultaneous resignation of five board members effective September 16, 2026, including Chairman Asdullakhan Alafkhan Pathan, Managing Director Betulla Khan Asdulla, and two Whole-time Directors. The outgoing executive directors cited strategic restructuring following Mr. Faruk Patel joining the company as a Promoter. An Additional Independent Director, Nishesh Kumar Sinha, also resigned citing personal reasons. This represents a complete leadership overhaul for the Rs 67 Cr market cap company, which reported TTM revenue of Rs 64 Cr and negligible profitability.
- 5 directors resigned simultaneously effective September 16, 2026
- Chairman and MD both stepped down citing the entry of Mr. Faruk Patel as Promoter
- Company reported Rs 64 Cr TTM revenue and TTM PAT of Rs 0 Cr with a market cap of Rs 67 Cr
- All resignations took effect on the same date: September 16, 2026
Accord Synergy Limited has issued a corrigendum to the notice of its 12th Annual General Meeting (AGM) scheduled for September 30, 2026. The corrigendum incorporates omitted regulatory disclosures under SEBI Regulation 36(3) regarding three directors seeking appointment: Mr. Sharadchandra Patil, Mrs. Venu Birappa, and Mr. Rajendra Kundanlal Desai. The notice also details ordinary resolutions for statutory auditor appointments, filling a casual vacancy, and routine director retirements. This is a purely procedural regulatory filing with no operational or financial impact.
- 12th Annual General Meeting scheduled for Wednesday, September 30, 2026, at 11:30 AM IST via VC/OAVM
- Adds omitted Regulation 36(3) profiles for 3 director appointees: Mr. Sharadchandra Patil, Mrs. Venu Birappa, and Mr. Rajendra Kundanlal Desai
- Proposes appointment of K A Sanghvi & Co LLP as statutory auditors for a 5-year term from 12th AGM to 17th AGM
- Fills casual vacancy caused by the resignation of former statutory auditors M/s B K H & Associates LLP
Accord Synergy has submitted its Annual Report for FY2025-26 along with the Notice for its 12th Annual General Meeting scheduled on September 30, 2026. Key business items include the adoption of FY26 standalone accounts, director retirements by rotation, and the appointment of K A Sanghvi & Co LLP as statutory auditors to fill a casual vacancy and for a subsequent 5-year term. For FY25-26, the company reported standalone profit after tax of Rs 13,347,566 (EPS Rs 3.84) compared to a loss of Rs (12,728,648) in FY24-25. The filing also reports segment expansion to include Recruitment Services alongside Telecom and Civil Contracts.
- 12th Annual General Meeting convened for September 30, 2026 via Video Conferencing
- Appointment of K A Sanghvi & Co LLP as statutory auditors for a 5-year term following the casual vacancy from B K H & Associates LLP's resignation
- FY25-26 standalone Profit After Tax recorded at Rs 13,347,566 vs Rs (12,728,648) in FY24-25
- Reported FY25-26 EPS of Rs 3.84 compared to Rs (3.67) in the previous financial year
- Unsecured loans from directors stood at Rs 7,064,208 as of March 31, 2026
Accord Synergy Limited has submitted newspaper publications confirming its 12th Annual General Meeting (AGM) scheduled for Wednesday, September 30, 2026, at 11:30 a.m. IST via Video Conferencing/OAVM. The notices were advertised on September 8, 2026, in Business Standard (English) and Loksatta (Regional language) in compliance with Regulation 30 of SEBI LODR. This is a standard statutory compliance filing with no operational or financial impact.
- 12th Annual General Meeting scheduled for September 30, 2026, at 11:30 a.m. IST
- AGM to be conducted via Video Conferencing (VC) / Other Audio Visual Means (OAVM)
- Notices published on September 8, 2026, in Business Standard and Loksatta newspapers
Accord Synergy Limited has notified shareholders regarding the dispatch and availability of its Annual Report for FY 2025-26. The company's 12th Annual General Meeting is scheduled to take place on September 30, 2026, at 11:30 AM IST via video conferencing. The cut-off date to determine remote e-voting eligibility has been fixed as September 23, 2026. The remote e-voting window will remain open from September 26 to September 29, 2026.
- 12th Annual General Meeting scheduled for Wednesday, September 30, 2026, at 11:30 AM IST
- Cut-off date for e-voting eligibility set for Wednesday, September 23, 2026
- Remote e-voting period runs from September 26, 2026 (9:00 AM IST) to September 29, 2026 (5:00 PM IST)
- Communication dispatched under Regulation 36(1)(b) to shareholders without registered email addresses
Accord Synergy Limited has issued the notice for its 12th Annual General Meeting (AGM) scheduled for September 30, 2026. Key agenda items include adopting the audited standalone financial statements for FY26 and appointing M/s K A Sanghvi & Co LLP as statutory auditors for a 5-year term following the casual vacancy created by the resignation of M/s B K H & Associates LLP. The company is also seeking shareholder approval for the appointment of two Independent Directors, Mr. Nishesh Kumar Sinha and Mr. Sharadchandra Patil, for 5-year tenures.
- 12th Annual General Meeting to be held via Video Conferencing on September 30, 2026, at 11:30 AM IST
- Appointment of K A Sanghvi & Co LLP as statutory auditors for a 5-year term from the 12th to the 17th AGM
- Approval sought for appointment of K A Sanghvi & Co LLP to fill casual vacancy due to resignation of B K H & Associates LLP
- Appointment of Nishesh Kumar Sinha as Independent Director for 5 years effective February 17, 2026 to February 16, 2031
- Appointment of Sharadchandra Patil as Independent Director for 5 years effective August 27, 2026 to August 26, 2031
Accord Synergy Limited announced that its statutory auditor, M/s. B K H & Associates LLP, Chartered Accountants, tendered their resignation via letter dated August 27, 2026. The Audit Committee and Board of Directors took note of the resignation at their meetings on August 27, 2026, and recommended the appointment of new statutory auditors subject to shareholder approval. The company currently holds a market capitalization of Rs 70 Cr with TTM revenue of Rs 64 Cr.
- M/s. B K H & Associates LLP submitted resignation letter on August 27, 2026.
- Audit Committee and Board noted the resignation at meetings on August 27, 2026.
- Board recommended the appointment of a new statutory auditor for shareholder approval.
Accord Synergy Limited announced that its Statutory Auditor, M/s. B K H & Associates LLP, Chartered Accountants, tendered their resignation on August 27, 2026. The Audit Committee and Board of Directors noted the resignation at their meetings held on the same date and recommended the appointment of a new Statutory Auditor subject to shareholder approval. The resignation comes amid a company market capitalization of ₹70 Cr and TTM revenue of ₹64 Cr. Investors should review the detailed Annexure A reasons once fully uploaded to evaluate any underlying governance issues.
- M/s. B K H & Associates LLP tendered resignation as Statutory Auditor vide letter dated August 27, 2026
- Audit Committee and Board of Directors reviewed and noted the resignation on August 27, 2026
- Board recommended the appointment of a new Statutory Auditor for shareholder approval
- Accord Synergy has a market capitalization of ₹70 Cr and TTM revenue of ₹64 Cr
Accord Synergy's Board approved a sweeping governance and leadership restructuring following the induction of Mr. Faruk Patel / KP Group. The company appointed a new Chairman, Whole-Time Director, and Independent Director, while replacing both its Statutory and Internal Auditors. Additionally, the Board approved doubling the authorized share capital from Rs 5.00 crore to Rs 10.00 crore, subject to shareholder approval at the AGM on September 30, 2026. The registered office is also being relocated to Bharuch, Gujarat.
- Board approved doubling authorized share capital from Rs 5,00,00,000 to Rs 10,00,00,000 (Rs 5 Cr to Rs 10 Cr)
- Appointment of Mr. Muinulhaque Iqbalhusen Kadva (holding 138,880 shares or 3.59%) as Chairman
- Statutory Auditors replaced from M/s. B K H & Associates LLP to M/s. K A Sanghvi & Co LLP
- Internal auditor resignation letter cites alignment with new leadership structure following induction of Mr. Faruk Patel as Promoter
- Annual General Meeting convened for September 30, 2026 to approve key changes
Accord Synergy approved sweeping leadership and governance changes at its Board meeting on August 27, 2026. The Board appointed Mr. Muinulhaque Kadva (holding a 3.59% stake) as Chairman and Additional Director, along with three other directors, while appointing M/s K A Sanghvi & Co LLP as Statutory Auditor following the resignation of B K H & Associates LLP. The Board also approved doubling authorized share capital from ₹5.00 crore to ₹10.00 crore and shifting its registered office to Bharuch, Gujarat. Internal auditor resignation disclosures indicate these shifts align with strategic restructuring following the induction of Mr. Faruk Patel (KP Group) as promoter.
- Appointed Mr. Muinulhaque Iqbalhusen Kadva (holding 138,880 shares or 3.59% stake) as Additional Director and Chairman
- Board approved doubling authorized share capital from Rs. 5,00,00,000 to Rs. 10,00,00,000, subject to shareholder approval
- Appointed M/s K A Sanghvi & Co LLP as Statutory Auditor following casual vacancy from B K H & Associates LLP resignation
- Convened Annual General Meeting (AGM) on September 30, 2026, to seek shareholder approval for capital expansion and office relocation
Financial Performance
Revenue Growth by Segment
Not disclosed in available documents. The company operates in the civil construction segment using the percentage of completion method for revenue recognition.
Credit Rating & Borrowing
The company has not been sanctioned any working capital limits from banks or financial institutions during the year, indicating a 0% reliance on external bank-based working capital debt.
Operational Drivers
Raw Materials
Not specifically named, though the business involves long-term civil construction contracts which typically require cement, steel, and aggregates. Total contract costs are used to estimate the stage of completion.
Raw Material Costs
Not disclosed as a specific percentage of revenue; however, actual costs incurred are compared with total estimated contract costs to determine the percentage of completion for revenue recognition.
Manufacturing Efficiency
Not applicable as the company provides construction services; efficiency is measured by project execution progressing ahead of billing milestones.
Strategic Growth
Growth Strategy
The company focuses on the execution of long-term civil construction contracts. Growth is achieved by recognizing revenue through the percentage of completion method (AS 7), where project execution often progresses ahead of billing milestones, resulting in the recognition of unbilled revenue.
Products & Services
Long-term civil construction services and infrastructure project execution.
Brand Portfolio
Accord Synergy Limited.
Strategic Alliances
None. The company does not own any subsidiaries, associates, or joint ventures as of March 31, 2025.
External Factors
Industry Trends
The civil construction industry is increasingly reliant on unbilled revenue recognition where execution outpaces billing. The company is positioned to capture this by maintaining an adequate internal audit system commensurate with its size.
Competitive Moat
The company's moat is tied to its ability to manage long-term construction contracts and maintain effective internal financial controls over financial reporting, which were confirmed as operating effectively as of March 31, 2025.
Consumer Behavior
Not applicable for B2B/Government civil construction contracts.
Regulatory & Governance
Industry Regulations
Compliance with AS 7 (Construction Contracts) and Section 133 of the Companies Act, 2013. The company also maintains an audit trail (edit log) facility in its accounting software as required by law.
Legal Contingencies
The company has pending litigations disclosed in Note 23 of the standalone financial statements. The specific case values in INR are not provided in the available summary.
Risk Analysis
Key Uncertainties
Significant management judgment is required in estimating the stage of completion and foreseeable losses on contracts; errors here could lead to material misstatements in financial statements.
Technology Obsolescence Risk
Low risk; the company has implemented accounting software with audit trail features that operated throughout the year to ensure data integrity.
Credit & Counterparty Risk
Risk exists in the realization of unbilled revenue, which represents work performed but not yet billed to clients.
