Financial Results Approval
The Board approved the unaudited financial results for the quarter and nine months ended September 30, 2026. The results were reviewed by statutory auditors Price Waterhouse Chartered Accountants LLP, who issued a limited review report with an unmodified opinion. The financial results show:
Quarter Ended September 30, 2026 (Q3 FY26):
- Revenue from operations: ₹274.02 crore
- Revenue from sale of goods: ₹273.04 crore
- Other operating income: ₹0.98 crore
- Other income: ₹1.47 crore
- Total income: ₹275.48 crore
- Total expenses: ₹272.63 crore
- Profit before exceptional items and tax: ₹2.85 crore
- Exceptional items: Nil
- Profit before tax: ₹2.85 crore
- Total tax expense: ₹0.86 crore
- Profit for the period: ₹1.99 crore
- Other comprehensive income: (₹0.08 crore)
- Total comprehensive income: ₹1.91 crore
- Earnings per share (basic and diluted): ₹2.17
Comparative Performance:
- Q3 FY26 profit of ₹1.99 crore declined significantly from Q2 FY26 profit of ₹14.27 crore
- Revenue decreased from ₹283.95 crore in Q2 FY26 to ₹274.02 crore in Q3 FY26
- EPS dropped from ₹15.54 in Q2 FY26 to ₹2.17 in Q3 FY26
Nine Months Ended September 30, 2026:
- Revenue from operations: ₹798.49 crore
- Total income: ₹803.62 crore
- Profit before tax: ₹27.81 crore
- Profit for the period: ₹20.49 crore
- Total comprehensive income: ₹20.26 crore
- EPS: ₹22.32
Director Appointments
The Board approved the appointment of two new Independent Directors:
1. Mr. Tony Sirohi (DIN: 06451211) - Appointed as Additional Non-Executive, Independent Director for a term of 3 consecutive years effective November 03, 2026, subject to shareholder approval. Mr. Sirohi is a seasoned global business leader with over 30 years of experience in general management, P&L leadership, business transformation, and strategic growth across India, Southeast Asia, and Vietnam. He has held senior leadership positions with leading multinational packaging companies including Constantia Flexibles, Aptar Group, and Huhtamaki.
2. Ms. Shalini Kapoor (DIN: 11930584) - Appointed as Additional Non-Executive, Independent Director for a term of 3 years effective November 03, 2026, subject to shareholder approval. Ms. Kapoor is a distinguished legal professional and advocate with over 34 years of practice before the Supreme Court of India, Delhi High Court, and various tribunals, specializing in civil litigation, commercial arbitration, mediation, and dispute resolution.
Both directors have confirmed they meet the independence criteria under the Companies Act, 2013 and SEBI LODR Regulations, and are not related to any existing directors, key managerial personnel, or promoters of the company.
Director Resignations
The Board accepted the resignations of two Independent Directors:
1. Mr. Prabal Sarkar (DIN: 03124712) - Resigned as Non-Executive Independent Director effective close of business hours on November 05, 2026, after completing six years of service. He confirmed no material reasons for resignation other than completion of tenure and no differences with the Board or management.
2. Ms. Pritha Dutt (DIN: 02910608) - Resigned as Non-Executive Independent Director effective close of business hours on November 05, 2026, after completing six years of service. She also serves as Independent Director in Dalmia Bharat Refractories Limited and member of their Nomination and Remuneration Committee. She confirmed no material reasons for resignation other than completion of tenure.
Postal Ballot Approval
The Board approved conducting a postal ballot to seek shareholder approval for the appointments of Mr. Tony Sirohi and Ms. Shalini Kapoor as Independent Directors.
Meeting Details
The Board meeting commenced at 02:00 PM (IST) and concluded at 06:02 PM (IST) on November 03, 2026. Prior intimation was given to stock exchanges on October 27, 2026, as required under Regulation 29 of SEBI LODR Regulations.
Capital Structure
Paid-up equity share capital remains unchanged at ₹91.79 crore (face value of ₹10 per share).
Business Segment
The company's operations are predominantly in the manufacture of 'Printing Inks' and according to management, this constitutes a single segment as per Ind AS-108 Operating Segments.