Resignation of CFO
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Awaiting price reaction for this filing.
The board accepted the resignation of CFO Mr. Vinod Ojha, effective November 30, 2025, who is leaving to pursue opportunities outside the firm after serving since 2016. The board also approved Q2 FY26 unaudited (standalone) results: revenue from operations of ₹967.38 lakhs, down about 11% YoY, and profit after tax of ₹52.85 lakhs, down roughly 59% YoY. The Machine Division stayed profitable, but the Plastic Division slipped into a segment loss, dragging overall performance. An interim dividend of ₹0.50 per share (5% on face value of ₹10) was declared for FY26, but only for public shareholders, as promoters Dharmesh Desai and Bijal Desai voluntarily waived their dividend entitlement. The record date for the dividend is November 28, 2025.
The CFO exit after nearly a decade, alongside a sharp YoY drop in quarterly profit, may weigh on sentiment in the near term. On the positive side, the promoter-waived interim dividend is a small but shareholder-friendly signal, ensuring public investors still receive a payout.