Heubach Colorants India Limited has informed the Exchange regarding Appointment of Mr Rajesh Rathi as Chairman of the company w.e.f. July 16, 2025.
SUDARCOLOR · price
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Heubach Colorants India Limited announced audited FY25 results with revenue from operations of ₹825.06 crore (up 4.4% from ₹790.70 crore) and net profit of ₹51.45 crore (up 25% from ₹41.14 crore), with EPS rising to ₹22.29 from ₹17.82. The statutory auditor MSKA & Associates issued a qualified/modified opinion — a first-time qualification — because the Board is still reviewing unauthorized transfer of certain property and equipment to a related party (Clariant India Pvt Ltd) without Board approval, and the financial impact cannot be quantified yet. Mr. Ravi Kapoor resigned as Chairman and Non-Executive Director, and Mr. Rajesh Rathi (already a Non-Executive Director) was appointed Chairman effective July 16, 2025. Company Secretary Ashwini Natekar resigned to pursue opportunities outside, with Mr. Adwait Joshi taking over from August 1, 2025. MSKA & Associates was also appointed as Statutory Auditor for a 5-year term (FY26–FY30), subject to shareholder approval. Cash position strengthened to ₹177.08 crore from ₹107.73 crore, and the company confirmed it remains a going concern despite parent Heubach Group's German insolvency, as Sudarshan Chemical Industries now holds 54.36% indirect control after completing acquisition in March 2025.
Strong operational growth (revenue up ~4%, profit up ~25%) and a healthier cash balance are positive, but the qualified audit opinion over an unauthorized related-party asset transfer is a governance red flag that shareholders should watch closely. The Chairman and Company Secretary changes, along with a new auditor appointment, reflect an ongoing board restructuring under the new Sudarshan Chemical ownership.