Appointment of Mr. Vipul Desai as Additional Director ( Non Executive Independent Director) w.e.f August 12, 2025
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Awaiting price reaction for this filing.
Sonal Adhesives' board met on August 12, 2025 and approved Q1 FY26 unaudited results showing revenue from operations of Rs. 2,828.75 lakh, up ~14% YoY from Rs. 2,488.13 lakh, though net profit fell ~30% to Rs. 44.75 lakh (vs Rs. 64.21 lakh) and EPS dropped to Rs. 0.74 from Rs. 1.06. The board appointed Mr. Vipul Desai (B.Com Hons, LLB, FCS, ACMA, 45+ years experience) as Additional Non-Executive Independent Director, while Mr. Nitin Rane will retire as Independent Director on September 25, 2025 upon completing his tenure. Statutory auditors M/s M C Asawa & Co. will also retire after a 5-year term, to be replaced by M/s Haziyani & Associates for FY2025-26 to FY2029-30. Additionally, CS Prashant Diwan was appointed as Secretarial Auditor and M/s S K Agarwal & Associates as Cost Auditor for FY2025-26, and the 34th AGM was scheduled for September 25, 2025 via video conference.
Mixed signal for shareholders: revenue growth is healthy but margins and profits declined sharply YoY, suggesting cost pressures despite top-line expansion. The board and auditor changes are routine transitions driven by tenure completion rather than governance concerns, so no immediate red flags.