Please find enclosed herewith Appointment of Mr. Chand Rameshbhai Kanabar as an Additional Non- Executive Independent Director of the Company.
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Accretion Nutraveda reported strong audited FY2026 results: revenue from operations grew 110% year-on-year to ₹33.60 crore (from ₹16 crore), and profit after tax surged 103% to ₹5.07 crore (from ₹2.50 crore), with an EPS of ₹9.35. The company listed on BSE SME in February 2026 via an IPO raising ₹24.77 crore, with ₹18.21 crore deployed so far — ₹7.04 crore on machinery, ₹5.24 crore on working capital, ₹3.69 crore on corporate purposes, and ₹3.33 crore on IPO expenses; ₹6.55 crore remains unutilised. Key governance changes include the simultaneous resignation of two independent directors (Mr. Arun Dash and Mr. Mahipal Singh Chouhan, both citing personal/professional commitments) and the appointment of two new independent directors (Mr. Chand Rameshbhai Kanabar and Ms. Grishma A. Shewale) effective 8th May 2026, subject to shareholder approval. Secretarial and internal auditors were reappointed/appointed for FY2026-27.
The financial performance is strong, showing robust post-IPO growth. However, the simultaneous resignation of two independent directors raises board composition concerns, though two replacements have been immediately appointed. Investors should monitor board stability and whether the independent director ratio is maintained pending shareholder approval.