Announced Fri, 2 Oct, 2026 · 17:33 IST

Whole-time Director ceases after shareholders reject reappointment

Director Flagged GovernanceManagement Changes View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

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₹19.54

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Nifty Microcap 250market · in no size index; the smallest one is used+0.0%+5.0% vs market

Specialty Chemicals peers, median of 101sector-0.6%+5.6% vs sector

On the reaction day the stock moved 5.0 pts more than Nifty Microcap 250 and 5.6 pts more than its Specialty Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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+10.2+1.3+8.9+1.0+9.2

+15.7+1.1+14.6+1.0+14.7

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Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Mr. Ajay Rajnikant Shah, Whole-time Director of Organic Coatings Ltd, has ceased to be a Director and Whole-time Director from the conclusion of the 61st AGM held on 29 September 2026. The reason is that shareholders did not approve his reappointment as a Director liable to retire by rotation. The company was signed off by remaining Whole-time Director Parth Meenesh Patel.

Likely market impact

Shareholder rejection of a director reappointment raises governance concerns and leadership uncertainty at the company.