Whalesbook
Koiya International Limited has announced the appointment of Ms. Shanu Jain as its new Company Secretary and Compliance Officer. The position is effective April 15, 2026.
The company, formerly known as Popees Cares Ltd, has officially named Ms. Jain to these key roles. This strategic appointment aims to bolster the company's corporate governance framework. For Koiya International, which has a history of financial difficulties and operates under specific stock exchange surveillance measures, strengthening compliance is a critical step towards improving its corporate structure and regaining investor confidence.
Koiya International underwent a name change from Popees Cares Limited on March 9, 2026, and previously shifted its business focus from software and fabrics to baby care products. The company's financial health has been a concern, with accumulated losses reported at approximately ₹6.69 Crore as of March 2025. Over the past five years, earnings have fallen by 44.8% annually, and revenues have shrunk by 93% year-over-year. These performance issues led to Koiya International being placed on the Graded Surveillance Measure (GSM) list by the stock exchange due to price and volume volatility. Governance also faced a setback when a board meeting scheduled for March 20, 2026, was postponed due to a lack of Independent Directors. The company is also pursuing a capital infusion via a preferential share issue.
The appointment of Ms. Jain is expected to lead to enhanced focus on regulatory adherence and SEBI compliance, alongside improved reporting to the board and shareholders. However, significant risks remain. The company's GSM status signals heightened exchange monitoring. Persistent weak financials and accumulated losses continue to pressure operations. Past issues with board meeting quorums, like the Independent Director unavailability, suggest ongoing governance oversight needs. Share illiquidity also remains a concern for investors.
Koiya International operates in a competitive segment. Its current market capitalization is around ₹63.223 million as of April 2026, smaller than some apparel sector peers like Acknit Industries (market cap ~₹113.8 million) and Aarnav Fashions (market cap ~₹95.3 million). While appointing a Company Secretary is a standard governance practice, its success will be measured against the company's broader financial and operational turnaround efforts. Investors will be watching for the effectiveness of Ms. Jain's role, attendance at future board meetings, progress on the preferential share issue, and the company's ability to improve financial performance and exit the GSM list.