Resignation of Executive Director
AKSHARCHEM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
AksharChem India reported audited FY2026 results showing a pre-tax loss of Rs. 444.31 lakhs vs profit of Rs. 582.64 lakhs in FY2025, impacted by a fire incident at its VS Plant in May 2024 partially offset by Rs. 169.61 lakh insurance settlement. Revenue from operations grew to Rs. 37,243 lakh from Rs. 34,626.52 lakh. The Board recommended a final dividend of Rs. 0.50 per share (5%) subject to shareholder approval. Mr. Ashok Dolatsinh Barot resigned as Executive Director effective May 21, 2026, with the Board appreciating his contributions. He was succeeded by Mr. Devalkumar Indrabal Suthar (associated since 2010) as Additional Director (Whole Time Director) for three years, subject to shareholder approval. Statutory auditors Talati & Talati LLP issued an unmodified opinion. The company also commissioned a 5.19 MWp solar power plant at Makdala for captive consumption.
The resignation of the Executive Director followed by appointment of an internal successor (a senior finance professional) suggests a planned transition rather than governance concerns. The FY2026 loss, though primarily due to a one-time fire incident, warrants monitoring but insurance recovery mitigates the impact.