Declared Dividend • May 27
Dividend increased to ₹7.00 Dividend of ₹7.00 is 7.7% higher than last year. Ex-date: 20th July 2026 Payment date: 12th August 2026 Dividend yield will be 0.6%, which is higher than the industry average of 0.4%. Sustainability & Growth Dividend is covered by both earnings (12% earnings payout ratio) and cash flows (70% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend. Reported Earnings • May 26
Full year 2026 earnings: EPS in line with analyst expectations despite revenue beat Full year 2026 results: EPS: ₹58.58 (up from ₹53.25 in FY 2025). Revenue: ₹10.3b (up 23% from FY 2025). Net income: ₹4.13b (up 10.0% from FY 2025). Profit margin: 40% (down from 45% in FY 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 09
Nesco Limited to Report Q4, 2026 Results on May 25, 2026 Nesco Limited announced that they will report Q4, 2026 results on May 25, 2026 Reported Earnings • Jan 29
Third quarter 2026 earnings released: EPS: ₹14.85 (vs ₹15.60 in 3Q 2025) Third quarter 2026 results: EPS: ₹14.85 (down from ₹15.60 in 3Q 2025). Revenue: ₹2.74b (up 15% from 3Q 2025). Net income: ₹1.05b (down 4.8% from 3Q 2025). Profit margin: 38% (down from 46% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.4% p.a. on average during the next 2 years, compared to a 24% growth forecast for the Real Estate industry in India. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 19
Nesco Limited to Report Q3, 2026 Results on Jan 27, 2026 Nesco Limited announced that they will report Q3, 2026 results on Jan 27, 2026 Reported Earnings • Nov 07
Second quarter 2026 earnings released: EPS: ₹16.88 (vs ₹15.17 in 2Q 2025) Second quarter 2026 results: EPS: ₹16.88 (up from ₹15.17 in 2Q 2025). Revenue: ₹2.64b (up 17% from 2Q 2025). Net income: ₹1.19b (up 11% from 2Q 2025). Profit margin: 45% (down from 48% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.2% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Real Estate industry in India. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 10
Nesco Limited to Report Q2, 2026 Results on Nov 06, 2025 Nesco Limited announced that they will report Q2, 2026 results on Nov 06, 2025 Price Target Changed • Aug 04
Price target increased by 22% to ₹1,282 Up from ₹1,049, the current price target is provided by 1 analyst. New target price is 5.3% below last closing price of ₹1,354. Stock is up 62% over the past year. The company is forecast to post earnings per share of ₹59.90 for next year compared to ₹53.25 last year. New Risk • Jul 31
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.07% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.07% per year for the foreseeable future. Minor Risk Paying a dividend despite having no free cash flows. Announcement • Jul 16
Nesco Limited to Report Q1, 2026 Results on Jul 30, 2025 Nesco Limited announced that they will report Q1, 2026 results on Jul 30, 2025 Upcoming Dividend • Jul 16
Upcoming dividend of ₹6.50 per share Eligible shareholders must have bought the stock before 23 July 2025. Payment date: 20 August 2025. Payout ratio is a comfortable 12% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.2%). In line with average of industry peers (0.5%). Reported Earnings • Jul 09
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: ₹53.25 (up from ₹51.49 in FY 2024). Revenue: ₹8.42b (up 7.6% from FY 2024). Net income: ₹3.75b (up 3.4% from FY 2024). Profit margin: 45% (down from 46% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 5.8%. Revenue is forecast to stay flat during the next 2 years compared to a 22% growth forecast for the Real Estate industry in India. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 27% per year. Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹1,198, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 39x in the Real Estate industry in India. Total returns to shareholders of 118% over the past three years. New Risk • May 30
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.7% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (36% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Price Target Changed • May 20
Price target increased by 8.6% to ₹1,069 Up from ₹984, the current price target is provided by 1 analyst. New target price is 13% above last closing price of ₹946. Stock is up 4.4% over the past year. The company is forecast to post earnings per share of ₹56.50 for next year compared to ₹51.49 last year. Announcement • May 19
Nesco Limited, Annual General Meeting, Jul 30, 2025 Nesco Limited, Annual General Meeting, Jul 30, 2025, at 15:30 Indian Standard Time. Declared Dividend • May 18
Dividend increased to ₹6.50 Dividend of ₹6.50 is 8.3% higher than last year. Ex-date: 23rd July 2025 Payment date: 20th August 2025 Dividend yield will be 0.7%, which is higher than the industry average of 0.4%. Sustainability & Growth Dividend is well covered by both earnings (12% earnings payout ratio) and cash flows (27% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 3.9% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • May 17
Nesco Limited Recommends Final Dividend for the Financial Year Ended 31 March 2025, Payable on or Before 20 August 2025 Nesco Limited at the Board Meeting held on 16 May 2025 recommended a Final Dividend of INR 6.50 per share (325%) of face value of INR 2 each for the financial year ended 31 March 2025 (previous year final dividend of INR 6 per share (300%)) subject to the approval of the shareholders at the forthcoming 66th Annual General Meeting. The Company has fixed 23 July 2025 as the record date for determining the entitlement of members to the final dividend for the financial year ended 2024-25 and for the purpose of AGM. The dividend if approved by the shareholders shall be paid on or before 20 August 2025. Announcement • Apr 10
Nesco Limited to Report Fiscal Year 2025 Results on May 16, 2025 Nesco Limited announced that they will report fiscal year 2025 results at 12:15 PM, Indian Standard Time on May 16, 2025 Reported Earnings • Jan 31
Third quarter 2025 earnings released: EPS: ₹15.60 (vs ₹13.30 in 3Q 2024) Third quarter 2025 results: EPS: ₹15.60 (up from ₹13.30 in 3Q 2024). Revenue: ₹2.38b (up 16% from 3Q 2024). Net income: ₹1.10b (up 17% from 3Q 2024). Profit margin: 46% (in line with 3Q 2024). Revenue is forecast to stay flat during the next 2 years compared to a 23% growth forecast for the Real Estate industry in India. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Announcement • Jan 06
Nesco Limited to Report Q3, 2025 Results on Jan 30, 2025 Nesco Limited announced that they will report Q3, 2025 results on Jan 30, 2025 Reported Earnings • Oct 29
Second quarter 2025 earnings released: EPS: ₹15.17 (vs ₹12.46 in 2Q 2024) Second quarter 2025 results: EPS: ₹15.17 (up from ₹12.46 in 2Q 2024). Revenue: ₹2.25b (up 14% from 2Q 2024). Net income: ₹1.07b (up 22% from 2Q 2024). Profit margin: 48% (up from 44% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is expected to decline by 1.5% p.a. on average during the next 2 years, while revenues in the Real Estate industry in India are expected to grow by 23%. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Oct 18
Nesco Limited to Report Q2, 2025 Results on Oct 28, 2024 Nesco Limited announced that they will report Q2, 2025 results on Oct 28, 2024 Announcement • Jul 23
Nesco Limited to Report Q1, 2025 Results on Aug 02, 2024 Nesco Limited announced that they will report Q1, 2025 results on Aug 02, 2024 Upcoming Dividend • Jul 19
Upcoming dividend of ₹6.00 per share Eligible shareholders must have bought the stock before 26 July 2024. Payment date: 20 August 2024. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Indian dividend payers (1.1%). Higher than average of industry peers (0.4%). Reported Earnings • Jul 10
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: ₹51.49 (up from ₹41.25 in FY 2023). Revenue: ₹7.83b (up 29% from FY 2023). Net income: ₹3.63b (up 25% from FY 2023). Profit margin: 46% (down from 48% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) also surpassed analyst estimates by 3.0%. Revenue is forecast to stay flat during the next 2 years compared to a 21% growth forecast for the Real Estate industry in India. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Price Target Changed • May 25
Price target increased by 18% to ₹987 Up from ₹836, the current price target is provided by 1 analyst. New target price is 14% above last closing price of ₹868. Stock is up 43% over the past year. The company is forecast to post earnings per share of ₹54.40 for next year compared to ₹51.49 last year. Declared Dividend • May 23
Dividend increased to ₹6.00 Dividend of ₹6.00 is 33% higher than last year. Ex-date: 26th July 2024 Payment date: 20th August 2024 Dividend yield will be 0.7%, which is higher than the industry average of 0.4%. Sustainability & Growth Dividend is well covered by both earnings (11% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend. Announcement • May 23
Nesco Limited, Annual General Meeting, Aug 02, 2024 Nesco Limited, Annual General Meeting, Aug 02, 2024. Reported Earnings • May 21
Full year 2024 earnings released: EPS: ₹51.49 (vs ₹41.25 in FY 2023) Full year 2024 results: EPS: ₹51.49 (up from ₹41.25 in FY 2023). Revenue: ₹7.83b (up 29% from FY 2023). Net income: ₹3.63b (up 25% from FY 2023). Profit margin: 46% (down from 48% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • May 10
Nesco Limited to Report Fiscal Year 2024 Results on May 20, 2024 Nesco Limited announced that they will report fiscal year 2024 results on May 20, 2024 Announcement • Mar 22
Nesco Limited Appoints Arun L. Todarwal as Independent Director Nesco Limited at the shareholders has passed a special resolution of appointment of Mr. Arun L. Todarwal (DIN:00020916) as an Independent Director of the company for a period of 5 consecutive years effective February 13, 2024, to February 12, 2029. Reported Earnings • Feb 14
Third quarter 2024 earnings released: EPS: ₹13.30 (vs ₹9.95 in 3Q 2023) Third quarter 2024 results: EPS: ₹13.30 (up from ₹9.95 in 3Q 2023). Revenue: ₹2.05b (up 26% from 3Q 2023). Net income: ₹937.5m (up 34% from 3Q 2023). Profit margin: 46% (up from 43% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 2 years compared to a 24% growth forecast for the Real Estate industry in India. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Feb 03
Nesco Limited to Report Nine Months, 2024 Results on Feb 13, 2024 Nesco Limited announced that they will report nine months, 2024 results on Feb 13, 2024 Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹828, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 35x in the Real Estate industry in India. Total returns to shareholders of 63% over the past three years. Reported Earnings • Nov 09
Second quarter 2024 earnings released: EPS: ₹12.46 (vs ₹11.62 in 2Q 2023) Second quarter 2024 results: EPS: ₹12.46 (up from ₹11.62 in 2Q 2023). Revenue: ₹1.98b (up 25% from 2Q 2023). Net income: ₹878.0m (up 7.2% from 2Q 2023). Profit margin: 44% (down from 52% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 1.9% p.a. on average during the next 2 years, while revenues in the Real Estate industry in India are expected to grow by 20%. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Jul 28
Nesco Limited to Report Q1, 2024 Results on Aug 04, 2023 Nesco Limited announced that they will report Q1, 2024 results on Aug 04, 2023 Announcement • Jul 21
Nesco Limited Announces the Resignation of Ms. Jinal Jitendra Shah as Company Secretary and Compliance Officer of the Company Nesco Limited announced the resignation of Ms. Jinal Jitendra Shah as Company Secretary and Compliance Officer of the Company due to her personal commitments. The Company has accepted her resignation on 18 July 2023, and she will be relieved from her responsibilities from the closure of business hours on 18 August 2023. Upcoming Dividend • Jul 21
Upcoming dividend of ₹4.50 per share at 0.7% yield Eligible shareholders must have bought the stock before 28 July 2023. Payment date: 03 September 2023. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Indian dividend payers (1.5%). In line with average of industry peers (0.6%). Reported Earnings • Jul 15
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: ₹41.25 (up from ₹26.85 in FY 2022). Revenue: ₹6.08b (up 60% from FY 2022). Net income: ₹2.91b (up 54% from FY 2022). Profit margin: 48% (down from 50% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) also surpassed analyst estimates by 1.1%. Revenue is forecast to stay flat during the next 2 years compared to a 17% growth forecast for the Real Estate industry in India. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 13
Nesco Limited, Annual General Meeting, Aug 04, 2023 Nesco Limited, Annual General Meeting, Aug 04, 2023, at 15:30 Indian Standard Time. Location: Registered Office of the Company at Nesco Center, Western Express Highway, Goregaon Mumbai India Agenda: To consider the audited standalone and consolidated financial statements of the Company for the financial year ended 31 March 2023, together with the report of the Board of Directors and Auditors thereon; to declare final dividend on equity shares for the financial year ended 31 March 2023; to appoint a Director in place of Mrs. Sudha S. Patel (DIN:00187055), who retires by rotation and being eligible, offers herself for reappointment; and to discuss other matters. Price Target Changed • May 30
Price target decreased by 7.4% to ₹785 Down from ₹848, the current price target is an average from 2 analysts. New target price is 30% above last closing price of ₹604. Stock is up 11% over the past year. The company is forecast to post earnings per share of ₹45.20 for next year compared to ₹41.25 last year. Announcement • May 25
Nesco Limited Approves Final Dividend for the Financial Year Ended 31 March 2023 Nesco Limited at its board meeting held on May 24, 2023, approved final dividend of INR 4.50 per equity share of the face value of INR 2 each for the financial year ended 31 March 2023, subject to approval of members at the Annual General Meeting. Reported Earnings • May 25
Full year 2023 earnings released: EPS: ₹41.25 (vs ₹26.85 in FY 2022) Full year 2023 results: EPS: ₹41.25 (up from ₹26.85 in FY 2022). Revenue: ₹6.09b (up 60% from FY 2022). Net income: ₹2.91b (up 54% from FY 2022). Profit margin: 48% (down from 50% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 2 years compared to a 17% growth forecast for the Real Estate industry in India. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 11% per year. Announcement • May 19
Nesco Limited to Report Q4, 2023 Results on May 24, 2023 Nesco Limited announced that they will report Q4, 2023 results on May 24, 2023 Price Target Changed • Feb 13
Price target increased by 8.7% to ₹848 Up from ₹780, the current price target is an average from 2 analysts. New target price is 48% above last closing price of ₹574. Stock is up 4.9% over the past year. The company is forecast to post earnings per share of ₹26.90 for next year compared to ₹26.85 last year. Reported Earnings • Feb 10
Third quarter 2023 earnings released: EPS: ₹9.95 (vs ₹7.00 in 3Q 2022) Third quarter 2023 results: EPS: ₹9.95 (up from ₹7.00 in 3Q 2022). Revenue: ₹1.62b (up 57% from 3Q 2022). Net income: ₹700.8m (up 42% from 3Q 2022). Profit margin: 43% (down from 48% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Real Estate industry in India. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 8% per year, which means it is performing significantly worse than earnings. Announcement • Feb 01
Nesco Limited to Report Q3, 2023 Results on Feb 09, 2023 Nesco Limited announced that they will report Q3, 2023 results on Feb 09, 2023 Price Target Changed • Nov 18
Price target increased to ₹864 Up from ₹780, the current price target is provided by 1 analyst. New target price is 41% above last closing price of ₹612. Stock is down 1.6% over the past year. The company is forecast to post earnings per share of ₹41.30 for next year compared to ₹26.85 last year. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 5 highly experienced directors. Independent Non-Executive Director Amrita Chowdhury was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Jul 21
Upcoming dividend of ₹3.00 per share Eligible shareholders must have bought the stock before 28 July 2022. Payment date: 07 September 2022. Payout ratio is a comfortable 11% but the company is paying out more than the cash it is generating. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.8%). Lower than average of industry peers (0.7%). Reported Earnings • Jul 15
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: ₹26.85 (up from ₹24.48 in FY 2021). Revenue: ₹3.81b (up 7.3% from FY 2021). Net income: ₹1.89b (up 9.7% from FY 2021). Profit margin: 50% (up from 49% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.5%. Over the next year, revenue is forecast to grow 11%, compared to a 21% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • May 26
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: ₹26.85 (up from ₹24.48 in FY 2021). Revenue: ₹3.82b (up 7.8% from FY 2021). Net income: ₹1.89b (up 9.7% from FY 2021). Profit margin: 50% (in line with FY 2021). Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 32%, compared to a 19% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Price Target Changed • Apr 27
Price target increased to ₹700 Up from ₹651, the current price target is provided by 1 analyst. New target price is 21% above last closing price of ₹578. Stock is up 14% over the past year. The company is forecast to post earnings per share of ₹26.20 for next year compared to ₹24.48 last year. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 5 highly experienced directors. Non-Executive Independent Director Amrita Chowdhury was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improved over the past week After last week's 17% share price gain to ₹604, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 35x in the Real Estate industry in India. Total returns to shareholders of 31% over the past three years. Reported Earnings • Feb 04
Third quarter 2022 earnings: EPS exceeds analyst expectations Third quarter 2022 results: EPS: ₹7.00 (up from ₹6.95 in 3Q 2021). Revenue: ₹1.03b (up 2.3% from 3Q 2021). Net income: ₹493.0m (flat on 3Q 2021). Profit margin: 48% (in line with 3Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.4%. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Board Change • Dec 06
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 5 highly experienced directors. Non-Executive Independent Director Amrita Chowdhury was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Executive Departure • Nov 29
Executive Director & Chief Mentor Sumant Patel has left the company On the 17th of November, Sumant Patel was replaced as CEO by Krishna Patel. Sumant still personally held 12.03m shares (₹7.3b worth) as of September 2021. This is 17% of the company. Sumant is the only executive to leave the company over the last 12 months. Executive Departure • Nov 29
Executive Director & Chief Mentor Sumant Patel has left the company On the 17th of November, Sumant Patel was replaced as CEO by Krishna Patel. Sumant still personally held 12.03m shares (₹7.3b worth) as of September 2021. This is 17% of the company. Sumant is the only executive to leave the company over the last 12 months. Executive Departure • Nov 28
Executive Director & Chief Mentor Sumant Patel has left the company On the 17th of November, Sumant Patel was replaced as CEO by Krishna Patel. Sumant still personally held 12.03m shares (₹7.3b worth) as of September 2021. This is 17% of the company. Sumant is the only executive to leave the company over the last 12 months. Executive Departure • Nov 28
Executive Director & Chief Mentor Sumant Patel has left the company On the 17th of November, Sumant Patel was replaced as CEO by Krishna Patel. Sumant still personally held 12.03m shares (₹7.3b worth) as of September 2021. This is 17% of the company. Sumant is the only executive to leave the company over the last 12 months. Executive Departure • Nov 28
Executive Director & Chief Mentor Sumant Patel has left the company On the 17th of November, Sumant Patel was replaced as CEO by Krishna Patel. Sumant still personally held 12.03m shares (₹7.3b worth) as of September 2021. This is 17% of the company. Sumant is the only executive to leave the company over the last 12 months. Executive Departure • Nov 28
Executive Director & Chief Mentor Sumant Patel has left the company On the 17th of November, Sumant Patel was replaced as CEO by Krishna Patel. Sumant still personally held 12.03m shares (₹7.3b worth) as of September 2021. This is 17% of the company. Sumant is the only executive to leave the company over the last 12 months. Executive Departure • Nov 28
Executive Director & Chief Mentor Sumant Patel has left the company On the 17th of November, Sumant Patel was replaced as CEO by Krishna Patel. Sumant still personally held 12.03m shares (₹7.3b worth) as of September 2021. This is 17% of the company. Sumant is the only executive to leave the company over the last 12 months. Executive Departure • Nov 28
Executive Director & Chief Mentor Sumant Patel has left the company On the 17th of November, Sumant Patel was replaced as CEO by Krishna Patel. Sumant still personally held 12.03m shares (₹7.3b worth) as of September 2021. This is 17% of the company. Sumant is the only executive to leave the company over the last 12 months. Executive Departure • Nov 28
Executive Director & Chief Mentor Sumant Patel has left the company On the 17th of November, Sumant Patel was replaced as CEO by Krishna Patel. Sumant still personally held 12.03m shares (₹7.3b worth) as of September 2021. This is 17% of the company. Sumant is the only executive to leave the company over the last 12 months. Executive Departure • Nov 28
Executive Director & Chief Mentor Sumant Patel has left the company On the 17th of November, Sumant Patel was replaced as CEO by Krishna Patel. Sumant still personally held 12.03m shares (₹7.3b worth) as of September 2021. This is 17% of the company. Sumant is the only executive to leave the company over the last 12 months. Executive Departure • Nov 28
Executive Director & Chief Mentor Sumant Patel has left the company On the 17th of November, Sumant Patel was replaced as CEO by Krishna Patel. Sumant still personally held 12.03m shares (₹7.3b worth) as of September 2021. This is 17% of the company. Sumant is the only executive to leave the company over the last 12 months. Executive Departure • Nov 28
Executive Director & Chief Mentor Sumant Patel has left the company On the 17th of November, Sumant Patel was replaced as CEO by Krishna Patel. Sumant still personally held 12.03m shares (₹7.3b worth) as of September 2021. This is 17% of the company. Sumant is the only executive to leave the company over the last 12 months. Executive Departure • Nov 28
Executive Director & Chief Mentor Sumant Patel has left the company On the 17th of November, Sumant Patel was replaced as CEO by Krishna Patel. Sumant still personally held 12.03m shares (₹7.3b worth) as of September 2021. This is 17% of the company. Sumant is the only executive to leave the company over the last 12 months. Executive Departure • Nov 27
Executive Director & Chief Mentor Sumant Patel has left the company On the 17th of November, Sumant Patel was replaced as CEO by Krishna Patel. Sumant still personally held 12.03m shares (₹7.3b worth) as of September 2021. This is 17% of the company. Sumant is the only executive to leave the company over the last 12 months. Executive Departure • Nov 27
Executive Director & Chief Mentor Sumant Patel has left the company On the 17th of November, Sumant Patel was replaced as CEO by Krishna Patel. Sumant still personally held 12.03m shares (₹7.3b worth) as of September 2021. This is 17% of the company. Sumant is the only executive to leave the company over the last 12 months. Executive Departure • Nov 27
Executive Director & Chief Mentor Sumant Patel has left the company On the 17th of November, Sumant Patel was replaced as CEO by Krishna Patel. Sumant still personally held 12.03m shares (₹7.3b worth) as of September 2021. This is 17% of the company. Sumant is the only executive to leave the company over the last 12 months. Executive Departure • Nov 27
Executive Director & Chief Mentor Sumant Patel has left the company On the 17th of November, Sumant Patel was replaced as CEO by Krishna Patel. Sumant still personally held 12.03m shares (₹7.3b worth) as of September 2021. This is 17% of the company. Sumant is the only executive to leave the company over the last 12 months. Executive Departure • Nov 27
Executive Director & Chief Mentor Sumant Patel has left the company On the 17th of November, Sumant Patel was replaced as CEO by Krishna Patel. Sumant still personally held 12.03m shares (₹7.3b worth) as of September 2021. This is 17% of the company. Sumant is the only executive to leave the company over the last 12 months. Executive Departure • Nov 27
Executive Director & Chief Mentor Sumant Patel has left the company On the 17th of November, Sumant Patel was replaced as CEO by Krishna Patel. Sumant still personally held 12.03m shares (₹7.3b worth) as of September 2021. This is 17% of the company. Sumant is the only executive to leave the company over the last 12 months. Executive Departure • Nov 27
Executive Director & Chief Mentor Sumant Patel has left the company On the 17th of November, Sumant Patel was replaced as CEO by Krishna Patel. Sumant still personally held 12.03m shares (₹7.3b worth) as of September 2021. This is 17% of the company. Sumant is the only executive to leave the company over the last 12 months. 
