Greaves Cotton Limited has informed the Exchange regarding Resignation of Mr. Firdose Vandrevala as Non- Executive Independent Director of the company w.e.f. October 14, 2025.
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Greaves Cotton announced the resignation of Mr. Firdose Vandrevala as Non-Executive Independent Director, effective close of business on October 14, 2025, ahead of his 75th birthday on October 17, 2025. He confirmed there are no material reasons for his resignation other than reaching the age threshold. The Board also approved the appointment of Mr. Jehangir Ardeshir (ex-Tata Steel, ex-CEO of Tata Quality Management Services) as an Additional Independent Director for 5 years from August 1, 2025, subject to shareholder approval. Alongside, the company reported Q1 FY26 results — standalone revenue of Rs 540.54 Cr and net profit of Rs 56.64 Cr (up ~55% YoY from Rs 36.55 Cr), with consolidated revenue at Rs 745.43 Cr and net profit of Rs 20.85 Cr (turning profitable from a Rs 0.16 Cr loss in Q1 FY25).
The board change is a routine, age-driven transition with a well-credentialed replacement, so no governance red flags for shareholders. Strong YoY profit growth on both standalone and consolidated bases is a positive operational signal, though consolidated bottom line remains thin due to continued losses in the Electric Mobility segment.