AksharChem India Limited has informed the Exchange regarding Resignation of Mr. Ashok Dolatsinh Barot as Executive Director of the company w.e.f. May 21, 2026.
AKSHARCHEM · price
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AksharChem India Limited's Board meeting on May 21, 2026 approved multiple items including audited financial results for FY2026, resignation of Executive Director Mr. Ashok Dolatsinh Barot effective close of business on the same day, and appointment of Mr. Devalkumar Indrabal Suthar as Whole Time Director for 3 years. For FY2026, the company reported revenue from operations of Rs. 37,243 lakh (up from Rs. 34,626.52 lakh), but posted a loss before tax of Rs. 444.31 lakh compared to profit of Rs. 582.64 lakh in FY2025. The decline was primarily due to a fire incident at the VS Plant in May 2024, though insurance claims of Rs. 169.61 lakh were recognized as exceptional items. The Board recommended a final dividend of Rs. 0.50 per share (5% yield) subject to shareholder approval. The company also commissioned a 5.19 MWp solar power plant for captive consumption.
The resignation of the Executive Director represents a key management change that may raise governance concerns for investors, though the appointment of a new Whole Time Director from within the company provides some continuity. The shift from profit to loss in FY2026 is a negative signal for shareholders, though the fire-related losses are partially offset by insurance recoveries.