Change in Management consequent to resignation of Company Secretary and appointment of Company Secretary
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The board, at its November 12, 2025 meeting, approved the unaudited financial results for Q2/H1 FY26 (ended September 30, 2025) and reviewed a key management change. Mr. Pritam Paul stepped down as Company Secretary & Compliance Officer to focus on plant relocation and new business development in emerging markets, though he will continue as Vice President & Business Head - Flexible PVC. Mr. Rajesh P. Likhite, an ICSI Associate with over 25 years of experience in secretarial and stock exchange compliance, has been appointed as the new Company Secretary effective November 13, 2025. Financially, the company reported a consolidated net loss of Rs. 24.89 crores in Q2 FY26 (vs. Rs. 28.36 crores loss in Q2 FY25), with revenue from operations declining to Rs. 174.77 crores from Rs. 191.74 crores YoY. For H1 FY26, the consolidated loss stood at Rs. 38.45 crores. The auditors (M/s Patki & Soman) drew attention to an outstanding Public Fixed Deposit liability of Rs. 45.33 crores (inherited from Bilcare), of which Rs. 38.81 crores is earmarked with the lead bank.
The Company Secretary transition is routine and not material to operations since Mr. Paul remains in an operational leadership role. However, the continued losses and revenue decline highlight ongoing operational stress, though the narrowed YoY loss offers some cushion for shareholders.