Majestic Auto has announced the resignation of its chief financial officer and key managerial personnel, Ajay Kumar, citing personal reasons. According to reports from Business Standard, the company's board of directors accepted Kumar's resignation on 8 June 2026. He was subsequently relieved from his duties with effect from the close of business hours on 24 June 2026.
On the financial front, the company reported a consolidated net loss of ₹2.63 crore for the quarter ended March 2026, compared with a net loss of ₹7.75 crore in the corresponding quarter of the previous year. As reported by Business Standard, revenue from operations declined 76.66% to ₹3.47 crore in the March 2026 quarter, as against ₹14.87 crore recorded in the quarter ended March 2025**.
The counter shed 0.01% to ₹342.95 on the BSE following the announcement. According to Business Standard, Majestic Auto is engaged in the business of providing facility management and rental services.
