Intimation of Appointment of Independent Director
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Ecoplast Limited's board, at its May 27, 2025 meeting, approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025, with an un-modified auditor opinion from Y.B. Desai & Associates. The board decided not to recommend any dividend for FY 2024-25, citing the company's financial position and ongoing projects. Ms. Priyal Saurabh Vora, a Chartered Accountant with over 11 years of experience in accounting, taxation and costing, was appointed as Additional Director (Non-Executive Independent) for a 5-year term effective June 1, 2025, subject to shareholder approval; she is not related to any existing director. The board also re-appointed Parikh & Associates as Secretarial Auditors for 5 years (FY25-26 to FY29-30), Kishore Bhatia & Associates as Cost Auditors for FY25-26, and Akkad Mehta & Co. LLP as Internal Auditors for FY25-26. The company confirmed it has nil qualified borrowings and does not fall under the Large Corporate Category.
Routine governance housekeeping with no major red flags — dividend skip may disappoint income investors but signals capital retention for growth. Adding a qualified, unrelated independent director strengthens board independence and oversight.