Veritas (India) announces board changes, subsidiary closures

Veritas (India) Limited announced its unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2025, revealing a profit before tax of INR 2,469.78 lakhs (consolidated) and (INR 54.70) lakhs (standalone) for the half-year. The company reported consolidated revenue from operations of INR 100,639.68 lakhs for the quarter and INR 159,306.10 lakhs for the half-year.

The board also underwent a reconstitution, effective November 13, 2025. Sunil Sehgal was appointed as an additional non-executive, non-independent director. Concurrently, Arun S. Agarwal resigned as company secretary and compliance officer, a role now filled by Amit A. Chavan. Additionally, Virat Dantwala resigned as executive director.

Further strategic adjustments include the winding up of two Singaporean subsidiaries: Global Comtrade PTE Limited and Veritas Global PTE Limited. Global Comtrade PTE Limited had a turnover of INR 1550.63 lakhs and a net worth of INR 54.04 lakhs as of March 31, 2025, and its closure is attributed to business restructuring. Veritas Global PTE Limited, a step-down subsidiary, had nil turnover and a net worth of INR (38.18) lakhs, with its closure driven by financial non-viability.