Appointment of Mr E Rajeshkumar (DIN:10207780) as the wholetime director of the company wef 8th July, 2026 subject to the approval of the shareholders.
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The Board approved the reappointment of Mr. E Rajeshkumar as Whole-time Director for 3 years from 8th July 2026 to 7th July 2029, subject to shareholder approval. This follows completion of his current 3-year term ending 7th July 2026. Rajeshkumar is a chemical engineer with 30 years of experience and is not related to any director or KMP. Separately, the company reported FY 2025-26 revenue of Rs 3,377.7 million, up 9% from Rs 3,094.9 million in FY 2024-25. However, profit before tax dropped significantly to Rs 527.2 million from Rs 795.9 million (down 34%), and net profit fell to Rs 366.1 million from Rs 621.9 million (down 41%). EPS declined from Rs 5.10 to Rs 3.00. The statutory auditors issued an unmodified opinion on the financial statements.
The reappointment of an experienced whole-time director provides continuity in leadership during a challenging profitability environment. However, the sharp decline in profits despite revenue growth may concern investors, as it signals rising costs or margin pressures in the chemicals business.