A meeting of the Board of Directors of Advance Petrochemicals Limited was held on Tuesday, August 11, 2026, at the company's registered office at 36, Kothan Market, Ahmedabad. The meeting commenced at 03:00 p.m. and concluded at 04:30 p.m.
Financial Results Approval
The Board approved the standalone unaudited financial results for the quarter ended June 30, 2026 (Q1 FY2027) in compliance with Regulation 33 of SEBI (LODR) Regulations, 2015. The financial results were reviewed by the Audit Committee and the statutory auditors, Suresh R Shah & Associates, conducted a limited review and expressed an unqualified opinion.
Key Financial Figures (Standalone) for Q1 FY2027:
- Total Income: ₹189.22 crore (₹157.66 crore in Q1 FY2026)
- Revenue from Operations: ₹188.97 crore (₹157.42 crore in Q1 FY2026)
- Other Income: ₹2.50 crore (₹2.36 crore in Q1 FY2026)
- Total Expenses: ₹162.82 crore (₹153.58 crore in Q1 FY2026)
- Profit before tax: ₹26.40 crore (₹0.41 crore in Q1 FY2026)
- Total Tax Expense: ₹6.00 crore (₹1.56 crore in Q1 FY2026)
- Net Profit after tax: ₹20.40 crore (₹2.51 crore in Q1 FY2026)
- Earnings per share (Basic & Diluted): ₹22.66 (₹2.79 in Q1 FY2026)
- Paid-up Equity Share Capital: ₹9.00 crore (face value ₹10 per share)
Comparative Figures:
- Previous quarter (Q4 FY2026 audited): Net Profit ₹2.93 crore, EPS ₹0.33
- Year ended March 31, 2026 (audited): Net Profit ₹2.93 crore
The company operates in a single segment and the financial statements were prepared in accordance with Indian Accounting Standards (Ind AS).
Corporate Governance Matters
The Board approved several corporate governance items:
1. Approved the notice convening the 41st Annual General Meeting (AGM) of the company
2. Approved the Draft Directors' Report along with its annexures for FY 2025-26
3. Re-appointed M/s Tibrewal Bhagat & Associates as Internal Auditor for FY 2026-27
4. Approved the appointment of M/s. Patawari & Associates as Scrutinizer for remote e-voting and voting during the AGM
Director Appointments and Resignations
The Board made significant changes to its composition:
Appointment:
- Mr. Priyank Dilipbhai Parikh (DIN: 11874552) was appointed as an Additional Director in the category of Non-Executive Independent Director for a period of 5 years with effect from August 11, 2026, subject to shareholder approval at the forthcoming AGM
- Mr. Parikh has completed Higher Secondary education and has over 25 years of experience in the chemicals industry
- He is not related to any existing directors or key managerial personnel and holds no equity shares in the company
Resignations:
- Mr. Akshat Arunbhai Shukla resigned as Non-Executive Independent Director effective August 11, 2026, citing "end of his term as an Independent Director"
- Mr. Shukla confirmed no material reasons beyond those stated and held no shares in the company
- Mr. Arvind Vishwanath Goenka resigned as Non-Executive Director effective August 11, 2026, citing "mutual exit with the company and due to other projects handling"
- Mr. Goenka held 10,810 shares in the company and confirmed no material reasons beyond those stated
Committee Reconstitution
Following the director changes, the Board reconstituted three key committees:
Audit Committee:
- Chairman: Mr. Priyank Dilipbhai Parikh (Non-Executive Independent Director)
- Members: Mr. Harshil Vadodariya (Non-Executive Independent Director), Mrs. Aanchal Arvind Goenka (Non-Executive Non-Independent Director)
Stakeholders Relationship Committee:
- Chairman: Mrs. Aanchal Arvind Goenka (Non-Executive Non-Independent Director)
- Members: Mr. Priyank Dilipbhai Parikh (Non-Executive Independent Director), Mr. Harshil Vadodariya (Non-Executive Independent Director)
Nomination & Remuneration Committee:
- Chairman: Mr. Priyank Dilipbhai Parikh (Non-Executive Independent Director)
- Members: Mr. Harshil Vadodariya (Non-Executive Independent Director), Mrs. Aanchal Arvind Goenka (Non-Executive Non-Independent Director)