OUTCOME OF BOARD MEETING HELD ON 12.08.2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board approved standalone unaudited financial results for Q1 FY26 (quarter ended June 30, 2025). Revenue from operations more than doubled YoY to Rs 701.74 lakhs (vs Rs 326.73 lakhs last year), but the company reported a net loss of Rs 38.73 lakhs (vs Rs 29.74 lakhs loss in Q1 FY25). The company has shifted its focus to ethanol manufacturing as a new business segment, while yarn is now produced on a job-work basis. Mr. Jigar Shah resigned as Company Secretary and Compliance Officer effective August 18, 2025, citing personal reasons. Mr. Suresh Chatterjee was appointed as an Additional Independent Director for 5 years, while Ms. Pooja Shah and Mr. Chintan Patel were re-appointed as Independent Directors for a second 5-year term. The Board also appointed M/s K. Jatin & Co. as Secretarial Auditor (5-year term) and M/s JPMK & Co. as Internal Auditor for FY25. The 21st AGM is scheduled for September 29, 2025.
Higher revenue but continued losses suggest the ethanol business ramp-up is still in early stages and margins remain under pressure. The Company Secretary exit is a routine KMP change but creates a temporary compliance vacancy that needs quick filling. Independent Director reconstitution strengthens board oversight, and the new auditor appointments are standard governance housekeeping.