Kritika Wires Limited has informed the Exchange regarding Appointment of Mr Hunny Bhalotia as Non- Executive Independent Director of the company w.e.f. May 14, 2026.
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Kritika Wires Limited held its Board Meeting on May 14, 2026, approving audited financial results for Q4 and FY2026. The company reported revenue from operations of Rs. 69,431.87 lakh for FY2026, with Profit Before Tax declining to Rs. 733.90 lakh from Rs. 1,480.24 lakh in FY2025 (a 50% decline). The Board appointed Mr. Hunny Bhalotia as Additional Non-Executive Independent Director for a 5-year term to fill the casual vacancy caused by Mr. Rajiv Adukia's resignation. The Board also considered re-appointments of three key directors (Managing Director, Whole-time Director cum Chairman, and Whole-time Director) for 3-year terms, subject to shareholder approval. Cost auditor M/s Sohan Lal Jalan & Associates was reappointed for FY2026-27.
The appointment of a new independent director fills a board vacancy and strengthens governance. However, the significant decline in profitability (down 50% YoY) and lower revenue compared to FY2025 may concern investors. The pending shareholder approval for re-appointments of three related directors indicates continuation of family-controlled management.