Appointment of Mr. Anandkumar Labhshankar Trivedi as Additional Executive Director
Awaiting price reaction for this filing.
Polytex India Ltd's Board, at its meeting on 14th November 2025, approved the unaudited financial results for the quarter and half-year ended 30 September 2025. For H1 FY26, the company reported a net loss of Rs 8.50 lakhs, wider than the Rs 5.73 lakh loss in the same period last year, with total expenditure rising to Rs 8.50 lakhs. The Board also appointed Mr. Anandkumar Labhshankar Trivedi (DIN: 10956744) as Additional Executive Director, bringing expertise in the construction business. Importantly, an old note flags that the RBI cancelled the company's NBFC (non-banking financial institution) registration in June 2024 under Section 45-IA(6) of the RBI Act, 1934. The auditor (Agrawal Jain & Gupta) issued an unqualified review report on the results.
The company continues to post losses with a weak cash position (just Rs 4.88 lakhs), and the NBFC licence cancellation by RBI remains a key negative overhang. The appointment of a director with construction expertise signals possible diversification away from the now-defunct lending finance business, which shareholders should watch closely.