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Awaiting price reaction for this filing.
Stovec Industries reported a sharp slowdown in Q2 FY26 (ended Sept 30, 2025), with revenue from operations at ₹406.62 million, down from ₹567.54 million in Q1 FY26 and ₹573.69 million in Q2 FY25. Profit before tax for the quarter fell to ₹16.13 million from ₹39.25 million in the previous quarter, while nine-month PAT dropped to ₹67.34 million from ₹114.30 million a year earlier. The Board appointed Mr. Gaurav Amrutiya (ex-CFO at multiple manufacturing and auto firms, 19+ years experience, ICAI fellow) as the new permanent CFO and Key Managerial Personnel with effect from Nov 14, 2025. Mr. Vipul Bhavsar, who was serving as Interim CFO, has been relieved of that role and will continue as Sr. Manager – Finance. Mr. Eiko Ris, a non-executive non-independent director (representing parent SPGPrints B.V., Netherlands), also resigned from the Board and all committees with effect from the same date. Statutory auditor Price Waterhouse issued an unmodified limited review report on the financial results.
The double-digit decline in both revenue and profits signals softness in the core Textile Machinery & Consumables segment and may weigh on near-term sentiment, though the auditor's clean report and seamless CFO transition to a permanent appointee limit governance concerns. The exit of one parent-nominee director is a routine board change and unlikely to materially affect operations or stock price.