HGS Board approves Q2 & H1 FY26 results, re-appoints Mr. Vynsley Fernandes as Whole-time Director & CEO
HGS reported standalone and consolidated losses for Q2 FY26. The Board also re-appointed Mr. Vynsley Fernandes as Whole-time Director and CEO - Media Business, effective November 14, 2025, pending shareholder approval.
The reported financial losses for the quarter are substantial. Furthermore, the ongoing tax dispute involving ₹281.59 crore under GAAR provisions represents a significant potential financial liability, which could materially affect the company's financial outlook.
The company reported both standalone and consolidated losses for the quarter and half-year ended September 30, 2025. Additionally, a significant tax dispute of ₹281.59 crore related to GAAR provisions remains an unresolved matter, despite the management's confidence in their legal position.
* The Board of Directors of Hinduja Global Solutions Limited, in a meeting held on November 10, 2025, considered and approved the unaudited Standalone and Consolidated Financial Results for the quarter and half-year ended September 30, 2025. * For the quarter ended September 30, 2025, the company reported: * Standalone Total Income of ₹526.30 crore, with a Profit/(Loss) Before Tax of (₹22.71) crore and a Profit/(Loss) for the period of (₹27.08) crore. * Consolidated Total Income of ₹1,222.94 crore, with a Profit/(Loss) Before Tax of (₹14.09) crore and a Profit/(Loss) for the period from continuing operations of (₹28.49) crore. * The Board also approved the re-appointment of Mr. Vynsley Fernandes (DIN: 02987818) as Whole-time Director (Key Managerial Personnel) and Chief Executive Officer - Media Business for a period of three years, effective from November 14, 2025. This re-appointment is subject to the approval of shareholders through a Postal Ballot. * The company has filed a writ petition before the Hon'ble Bombay High Court challenging a GAAR panel directive issued on October 30, 2025. The directive characterises the treatment of tax losses from the demerger of NXT Digital's DMC business as an "impermissible avoidance arrangement," directing to disregard brought forward losses of the demerged entity, impacting a total tax reduction of ₹281.59 crore. The company believes its tax position is tenable based on internal assessment and external legal advice.
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