Veedol Corporation Limited has informed the Exchange regarding Appointment of Mr Brajesh Kumar Srivastava (DIN: 09835338) as Non- Executive Director of the company w.e.f. August 13, 2025.
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Veedol Corporation's board, at its meeting on August 13, 2025, approved Q1 FY26 (quarter ended June 30, 2025) unaudited results. Standalone revenue was Rs. 372.77 crores (down marginally from Rs. 378.24 crores a year ago), while standalone profit after tax fell sharply to Rs. 16.29 crores from Rs. 26.78 crores. On a consolidated basis, revenue grew to Rs. 513.62 crores (from Rs. 478.87 crores) and profit jumped to Rs. 49.67 crores (from Rs. 36.86 crores), boosted by a joint venture contribution of Rs. 7.57 crores. The board appointed Mr. Brajesh Kumar Srivastava (a government nominee from the Ministry of Heavy Industries) as a Non-Executive and Non-Independent Director. Company Secretary Mr. Saptarshi Ganguly resigned effective October 10, 2025 to pursue other opportunities, and the board approved selling a ~2,780 sq.ft. Chennai office space for Rs. 2 crores.
Mixed quarter for shareholders: consolidated earnings were strong, but standalone profits nearly halved, partly on weaker operating performance. The KMP resignation and management refresh are routine, while the small property sale is a minor non-core monetisation unlikely to move the stock.