Gem Aromatics Limited has informed the Exchange regarding Outcome of Board Meeting held on May 21, 2026.
GEMAROMA · price
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Gem Aromatics Limited announced the outcome of its Board Meeting held on May 21, 2026. The Board approved the audited standalone and consolidated financial results for FY26 (year ended March 31, 2026). For standalone, total income declined to Rs 3,832 million from Rs 5,022 million in FY25, with profit after tax falling to Rs 267 million from Rs 569 million. Consolidated profit after tax dropped sharply to Rs 14.25 million from Rs 534 million in FY25, mainly due to higher depreciation and finance costs at the subsidiary level. The company also appointed Mr. Dinesh Vasu Thekkepanakkal as Additional Whole Time Director and Mr. Nandan Narula as Additional Independent Director. M/s Y.R. Doshi & Associates was appointed as Cost Auditor for FY27. The company's IPO (completed in August 2025) proceeds of Rs 1,750 million have been fully utilized. Executive directors waived their remuneration for FY26 citing the challenging business environment.
The sharp decline in profitability, particularly at the consolidated level, may concern investors. However, the IPO completion and full utilization of proceeds indicates capital deployment. The new director appointments and cost auditor appointment are routine governance matters.