Outcome of Board Meeting - Appointment of Mr V S Radhakrishnan as Non-Executive and Non-Independent Director of the Company
CHEMPLASTS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Chemplast Sanmar's Board meeting on May 25, 2026 approved audited financial results for FY2026 ending March 31. Standalone revenue was Rs 2,170 Crores with a net loss of Rs 1,883 Crores due to an exceptional impairment charge of Rs 898 Crores on its subsidiary Chemplast Cuddalore Vinyls Limited (CCVL), which faces challenging market conditions including low-priced S-PVC imports and raw material volatility. Consolidated revenue stood at Rs 4,224 Crores. The Board appointed Mr V S Radhakrishnan, a former Deputy Managing Director of State Bank of India with over 30 years of banking experience, as Non-Executive Non-Independent Director, filling a casual vacancy left by Mr Sumit Maheshwari's resignation. The company did not recommend any dividend for FY2025-26. Additionally, a committee of 3 Independent Directors was constituted to evaluate strategic priorities including potential M&A opportunities.
The substantial impairment at the PVC subsidiary signals ongoing stress in that business segment, which could weigh on investor sentiment despite the company's strong specialty chemicals operations. The appointment of a senior banking professional may bring fresh perspective, particularly given the newly formed strategic committee exploring M&A options.