HP Adhesives Limited has informed the Exchange regarding Appointment of Dr Chandra Sekhar Nettem as Non- Executive Independent Director of the company w.e.f. February 12, 2026.
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Awaiting price reaction for this filing.
HP Adhesives reported Q3 FY26 consolidated revenue of ₹6,536.71 lakhs, slightly down from ₹6,667.63 lakhs in Q3 FY25, while nine-month revenue rose about 5.6% to ₹19,653.23 lakhs. Profit after tax fell sharply to ₹162.22 lakhs in Q3 (vs ₹420.72 lakhs) and ₹934.97 lakhs for 9M (vs ₹1,398.89 lakhs), hurt by exceptional items of ₹80.98 lakhs for 9M (GST demand, Labour Code gratuity impact of ₹42.06 lakhs). The board appointed Dr Chandra Sekhar Nettem as Non-Executive Independent Director for 5 years, subject to shareholder approval via postal ballot. Mr Ajeet Anant Walavalkar resigned as Independent Director citing health reasons. The company also disclosed a fire incident at its Plant Unit 1 (Khopoli, Maharashtra) on January 17, 2026, damaging property and inventory; operations are being restored using standby facilities and assets were insured, with financial impact to be recognized in Q4 FY26.
Short-term share sentiment may be negative due to sharp Q3 PAT decline (~61% YoY) and the fire incident, though insurance coverage and resumption of operations limit downside risk. The independent director change is routine and unlikely to materially affect the stock.