Sun Retail Ltd

Sun Retail Ltd announced key management changes following a Board of Directors meeting held on August 27, 2026. Mr. Sanjay Patil has been appointed as the Managing Director for a term of five years, subject to shareholder approval. Additionally, Mr. Bharatbhai Kanjibhai Patel was appointed as an Additional Non-Executive Non-Independent Director. Both appointments are effective from August 27, 2026, and are subject to shareholder ratification at the upcoming Annual General Meeting. The company also confirmed that neither appointee is debarred from holding a director's office by any SEBI order.

Sun Retail Ltd. announced its audited standalone financial results for the half year and year ended March 31, 2026. The Board of Directors approved the results in their meeting held on May 21, 2026. The auditor's report contains a qualified opinion due to concerns about creditor classification, TDS account balances, unsecured loans, and grant income recognition for DDU-GKY projects.

Sun Retail Ltd's Board of Directors approved the Audited Standalone Financial Results for the half year and year ended March 31, 2026. However, the independent auditor, DDS & ASSOCIATES, issued a qualified opinion on these results. Key qualifications include the company's failure to provide clear classification of creditors for MSMED Act compliance, outstanding and unpaid TDS balances from previous years (₹24.33 Lakhs and ₹5.79 Lakhs respectively) without adequate explanations, and unsecured advances/loans granted (₹1,526.97 Lakhs) and received (₹356.23 Lakhs) without formal agreements or interest provisions. Additionally, the auditors could not verify the correctness of expenditure for DDU-GKY and other skill development projects due to a lack of internal audit reports. The trading window remains closed until 48 hours after the results declaration.

Sun Retail Ltd has announced that a meeting of the Board of Directors is scheduled for May 21, 2026, to consider and approve the standalone audited financial results for the half year and year ended March 31, 2026. The trading window has been closed from April 1, 2026, and will remain closed until 48 hours after the declaration of the financial results, in compliance with SEBI regulations.

Sun Retail Ltd. announced the appointment of Mrs. Khyati Bhavya Shah as an Additional Non-Executive Independent Director, effective April 16, 2026, subject to shareholder approval. This appointment follows the resignation of Ms. Nisha Sukhdevbhai Parmar as a Non-Executive Independent Director, effective April 15, 2026, due to pre-occupation. Consequent to these changes, the Board of Directors reconstituted the Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee. Mrs. Shah, a Company Secretary by profession with over 7 years of experience in corporate and allied laws, will chair the Audit and Nomination & Remuneration Committees.

Mrs. Nisha Sukhdevbhai Parmar has resigned as a Non-Executive Independent Director of Sun Retail Ltd, effective April 15, 2026. Her resignation is attributed to pre-occupation with other work, and she has confirmed there are no other material reasons, financial or otherwise. The Board of Directors acknowledged her valuable guidance and contributions during her tenure. This disclosure is made under Regulation 30 of SEBI (LODR) Regulations.

Sun Retail Ltd has declared that there is no identifiable promoter of the company as of 31st March, 2026. As a result, the provisions of regulation 31(4) & 31(5) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 are not applicable to the company.

Sun Retail Ltd has announced the closure of its trading window for the half year and year ended March 31, 2026, in accordance with the SEBI (Prohibition of Insider Trading) Regulations 2015. The closure will be effective from April 1, 2026, and will remain in force until 48 hours after the declaration of the audited financial results for the respective periods. The date of the board meeting for the declaration of results will be intimated in due course.

Sun Retail Ltd has appointed Mr. Rajesh Chinubhai Sutaria as an Additional Non-Executive Non-Independent Director, subject to the approval of shareholders in the ensuing Annual General Meeting. Mr. Sutaria is a result-driven warehouse and logistics professional with expertise in inventory management, supply chain optimization, and team leadership. The appointment is part of the reconstitution of committees in the Board Meeting held on March 24, 2026.

Sun Retail Ltd has announced the resignation of its Non-Executive Director, Mr. Rakesh Nareshchandra Kapadia, with immediate effect due to personal reasons. The company expressed gratitude for his contributions and will complete all necessary filings as required under the Companies Act, 2013.