Outcome of Board Meeting held on 31st October, 2025.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board accepted the resignation of Mr. Kiran Arvindlal Shah as Chairman and Director, and appointed his son Mr. Neil Kiran Shah as the new Chairman. Mrs. Neha Vivek Vora was promoted from Whole-time Director to Joint Managing Director. Mr. Kiran Shah was re-engaged as a Professional Management Consultant for 5 years from 1 November 2025. Three senior management appointments were confirmed: Mr. Vishnu Swarnkar (Commercial Head), Mr. Sandeep Grover (Plant Manager), and Mr. Sumit Sharma (Plant Head). The board also approved Q2 FY26 and H1 FY26 financial results. Revenue from operations for Q2 stood at Rs 3,666.27 lakhs (down from Rs 3,832.52 lakhs YoY), while net profit fell to Rs 135.71 lakhs (from Rs 193.71 lakhs YoY). For the half year, profit declined to Rs 302.23 lakhs from Rs 441.42 lakhs.
Investors should note a clear leadership transition at the top, with the founder stepping down as Chairman but staying on as a consultant, signalling continuity. However, the YoY decline in both revenue (~4%) and net profit (~30% in Q2, ~32% in H1) is a concern and may put short-term pressure on the stock.