Q1 results, MD re-appointments, wind mill divestment and Eurotex share extension
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PBM Polytex board approved Q1 FY27 unaudited results. Consolidated revenue fell to Rs 38.85 Cr from Rs 46.47 Cr YoY, but net profit swung to Rs 1.95 Cr from a loss of Rs 1.47 Cr. Board approved re-appointment of two Managing Directors and an Independent Director, reconstituted committees after a director's passing, proposed divestment of four wind mills (0.75% of revenue), and extended redemption of preference shares in associate Eurotex Industries to 2036.
Profit turnaround from loss to profit is positive; revenue decline and wind mill divestment are minor; associate Eurotex remains a going concern risk.