Major board overhaul: MD and CFO exit, auditor changed, pivot to renewable energy

Board meeting on July 15, 2026: MD Hemantbhai Raval and CFO Akash Parmar resigned citing personal and professional reasons. Statutory auditor DD Shah Patel and Co also resigned midterm, citing capacity constraints, after being appointed in August 2025. J M Patel and Bros appointed as new statutory auditor for five years. Ravikumar Patel from a second-generation business family elevated to Managing Director; Purvikkumar Patel joins as Executive Director and CFO. Company is altering its objects clause to shift away from chemicals into renewable energy, including Compressed Bio-Gas, hydrogen, biofuels and waste-to-energy. AGM set for August 10, 2026.