Elgi Rubber Company Limited has informed the Exchange regarding Change in Director(s) of the company.
ELGIRUBCO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Elgi Rubber Company Limited held a Board meeting on May 28, 2026 approving multiple items including audited financial results for Q4 and FY ended March 31, 2026. The company reported a standalone net loss of Rs.11,494.55 lakhs for FY2026 compared to a loss of Rs.425.70 lakhs in FY2025. Exceptional items included full impairment of investment in step-down subsidiary Rubber Resources B.V., Netherlands (Rs.3,658.47 lakhs) which entered liquidation in January 2026, and ECL allowance on loans of Rs.5,441.64 lakhs. The Board also approved reversal of Rs.16.43 million interest receivable from overseas subsidiaries, re-appointed Sudarsan Varadaraj as Chairman and Managing Director for 5 years from January 1, 2027, and re-appointed Harsha Varadaraj as Whole-time Director for 5 years from November 6, 2026. Cost and Internal Auditors were also re-appointed for FY2026-27.
The company reported significant losses driven by subsidiary impairments and provisions, which may negatively impact investor sentiment. However, continuity in leadership through director re-appointments and the subsidiary liquidation resolution may provide stability going forward.