Board Meeting outcome
Price
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Awaiting price reaction for this filing.
The Board approved unaudited financial results for Q1 FY26 (quarter ended June 30, 2025). On a standalone basis, revenue from operations dipped to ₹948.15 lakhs from ₹991.17 lakhs a year ago, while profit after tax fell sharply to ₹64.78 lakhs (vs ₹90.39 lakhs), partly due to a ₹12.05 lakh exceptional item and persistent losses in the Plastic Division. Consolidated revenue grew about 6% YoY to ₹1,052.19 lakhs, helped by the US subsidiary, but consolidated PAT also slipped to ₹80.60 lakhs from ₹90.28 lakhs. The company merged its Yarn Division into the Plastic Division and renamed it 'Plastic Division'. M/s Chirag Shah & Associates was appointed as Secretarial Auditor for five years (FY26–FY30), the 19th AGM was scheduled for September 11, 2025, and Mrs. Bijal Desai was recommended for reappointment. The statutory auditor issued an unmodified limited review report with no emphasis of matter.
Mixed quarter for shareholders — standalone earnings weakened with a loss-making Plastic segment dragging overall profitability, though the US subsidiary cushioned consolidated topline. The segment consolidation and long-term auditor appointment signal housekeeping, but investors may focus on the Plastic Division losses and ~28% YoY standalone PAT decline.