Resignation of Company Secretary and Compliance Officer Mr. Bibhu Kalyan Rauta with effect from June 20, 2026
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The Board meeting held on May 18, 2026 approved multiple items including audited FY26 financials showing strong growth. Revenue from operations grew 50% to Rs 9,231 million vs Rs 6,143 million in FY25. Net profit increased 64% to Rs 346.7 million. The Board also approved setting up a new plastic recycling facility with Rs 15 crore capex, expected to be operational by Q3 FY27. Key leadership change includes the resignation of Company Secretary and Compliance Officer Mr. Bibhu Kalyan Rauta effective June 20, 2026, citing personal commitments. New joint internal auditors (SKK & Co. and RKVT and Co.) and cost auditor (B. Venkateswar) were also appointed for FY27. The IPO proceeds utilization shows Rs 37.5 crore used for debt repayment and Rs 9.86 crore for general corporate purposes.
The resignation of the Company Secretary and Compliance Officer creates a compliance gap requiring replacement before June 20, 2026. While financial performance is strong with 50% revenue growth, shareholders should monitor timely appointment of a successor to maintain regulatory compliance. The new plastic recycling capex signals strategic diversification.