HP Adhesives Limited has informed the Exchange regarding Resignation of Mr Ajeet Anant Walavalkar as Non- Executive Independent Director of the company w.e.f. February 12, 2026.
HPAL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
HP Adhesives reported weak Q3 FY26 results with consolidated revenue from operations at ₹6,536.71 lakhs (down ~2% YoY from ₹6,667.63 lakhs) and profit after tax plunging ~61% YoY to ₹162.22 lakhs (from ₹420.72 lakhs), hit by exceptional items of ₹48.64 lakhs including GST demand and labour code gratuity impact. For 9M FY26, PAT stood at ₹934.97 lakhs versus ₹1,398.89 lakhs last year. The board accepted the resignation of Independent Director Mr. Ajeet Anant Walavalkar (due to health reasons) effective Feb 12, 2026, and appointed Dr. Chandra Sekhar Nettem as new Independent Director for a 5-year term. The filing also disclosed a fire incident on Jan 17, 2026 at the Khopoli (Maharashtra) Unit 1 plant that damaged property, plant, and inventory, though no casualties occurred and assets were insured.
Sharply lower profits and the Khopoli plant fire are negatives, though insurance coverage and the company's stand-by production facilities should cushion the blow. The independent director change is routine and well-managed with a qualified replacement, so minimal governance concern for shareholders.