Outcome of Board meeting
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Stovec Industries, a subsidiary of Netherlands-based SPGPrints B.V., reported weak Q2 FY26 results with revenue from operations falling to ₹406.62M from ₹573.69M a year ago (about 29% drop). Profit after tax for the quarter nearly halved to ₹11.97M versus ₹30.89M in Q2 FY25. For the nine months ended September 2025, revenue declined to ₹1,466.92M (from ₹1,785.49M) and PAT dropped sharply to ₹67.34M (from ₹114.30M), a roughly 41% fall. The Textile Machinery & Consumables segment, the company's mainstay, was the main drag with segment revenue at ₹1,398.52M versus ₹1,692.77M. Statutory auditor Price Waterhouse issued an unmodified limited review report. Separately, the Board appointed Mr. Gaurav Amrutiya (a Chartered Accountant with 19+ years of experience) as the new CFO with effect from November 14, 2025, replacing interim CFO Mr. Vipul Bhavsar who reverted to Sr. Manager–Finance. Non-executive director Mr. Eiko Ris also resigned from the Board the same day.
Sharp YoY decline in both revenue and profit, with margins under pressure, is negative for near-term sentiment; however, the change brings in a seasoned full-time CFO, which investors may view positively for governance and execution going forward. Watch the Textile Machinery segment closely as it drives nearly all of the business.