Appointment of Mr. John Gloster (DIN:02421071) as an Additional Director (Non-Executive Independent Director) of the Company
OAL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Oriental Aromatics Limited announced the appointment of Mr. John Gloster (DIN: 02421071) as Additional Director in the capacity of Non-Executive Independent Director effective 20 May 2026 for a 5-year term (subject to shareholder approval at the 54th AGM on 18 August 2026). Gloster is a sports physiotherapist with over 30 years of experience, currently serving with Rajasthan Royals IPL and previously with Indian Cricket Team, Bangladesh National Cricket Team, and Surrey County Cricket Club. The company stated his expertise in health, safety, and employee wellness will strengthen operational oversight. Concurrently, Mr. Deepak Ramachandra tendered resignation as Non-Executive Independent Director effective 21 May 2026 due to professional commitments, with no material reasons reported. Financially, standalone net profit declined to Rs 2,526.41 lakh in FY26 from Rs 4,683.55 lakh in FY25, while consolidated net profit fell sharply to Rs 331.01 lakh from Rs 3,432.83 lakh. The board recommended a dividend of Rs 0.5 per share (10%).
The simultaneous resignation and appointment of independent directors suggests board transition activity. The significant profit decline (standalone PBT down 46% YoY to Rs 3,272.58 lakh; consolidated PBT down 77% to Rs 1,077.18 lakh) may weigh on sentiment despite the dividend recommendation. The appointment of a sports medicine professional as an independent director is unconventional and may raise governance questions.