Board approved 10:1 share split, 3 directors resigned, 3 appointed
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On the reaction day the stock moved 5.9 pts less than Nifty Microcap 250 and 4.6 pts less than its Edible Oil peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Board on July 9, 2026 approved 10:1 share split (Rs.10 to Re.1 face value) and promoter reclassification to public. 3 directors resigned citing personal reasons: Priyansh Parekh (Independent), Neepa Kothari (Promoter Director), and Vinod Mehta (Executive Director and Promoter). 3 new directors appointed: Nitish Mehta, Hiren Shah as Executive Directors, and Sandeep Mahadik as Independent Director for 5 years. Subject to shareholder and BSE approvals.
Share split may improve liquidity. Three director exits plus promoter reclassification to public may signal governance changes for shareholders to monitor.