Source Industries (India) Ltd — Board Meeting, 28-07-2025: Board Meeting

Source Industries has announced that its board met today, confirming the successful open offer completion and new promoter control. This led to a significant board restructuring: Mr. Sudhir Reddy Posireddy is now Chairman & MD, supported by new Whole-Time and Independent Directors, with previous management resigning. A major strategic shift was approved, including a proposed name change to 'Bharat Rail and Defence Limited' and altered business objectives. The company reported a net profit of 0.11 for the quarter, turning around from last year's (1.39) loss. To fund this new direction, the board approved increasing borrowing powers up to 100 Cr, subject to shareholder approval. New auditors were also proposed.