Andhra Petrochemicals has confirmed the cessation of Dr. Pamidi Kotaiah from its Board of Directors following his death on the night of July 23, 2026. The company informed the Bombay Stock Exchange that Dr. Kotaiah’s roles as Chairman and Director ended effective July 24, 2026, marking a significant leadership transition for the West Godavari-based chemical manufacturer.

The intimation was issued under Clause 30 of the SEBI (LODR) Regulations, 2015, which mandates disclosure of changes in the composition of the Board. Dr. Pamidi Kotaiah, identified by DIN 00038420, served as a Non-Executive and Independent Director. His departure leaves a vacancy in the company's top leadership structure, requiring future board action to appoint a successor in compliance with regulatory norms for independent director representation.

Key Details of Cessation

The company provided specific details regarding the timeline and regulatory basis for the exit in its filing to the exchange.

The notice was signed by G. Adinarayana, who holds the dual role of Chief Financial Officer and Company Secretary at Andhra Petrochemicals. The filing was digitally signed and submitted on July 24, 2026, at 11:44:11 AM.

Impact on Corporate Governance

As an Independent Director, Dr. Kotaiah played a critical role in the company’s governance framework, providing oversight independent of management. His sudden passing necessitates an immediate review of the board’s composition to ensure continued compliance with the minimum requirements for independent directors stipulated by SEBI regulations. Shareholders may expect a subsequent announcement regarding the nomination or appointment of a new Independent Director to fill this vacancy.

The company expressed profound grief over the loss, describing it as a significant event for the organization. No further operational or financial details were disclosed in this specific regulatory filing, which focused solely on the personnel change.

Andhra Petrochemicals has returned to profitability in the quarter ended March 31, 2026, reporting a net profit of ₹1.38 crore against a net loss of ₹15.25 crore in the corresponding quarter of the previous year. This turnaround was achieved despite a significant decline in revenue from operations, which fell to ₹793.16 crore from ₹1,434.52 crore year-on-year. The company's Board of Directors approved the audited financial results for the year ended March 31, 2026, at a meeting held on May 27, 2026.

Financial Performance

The company's operating performance improved markedly, with EBITDA turning positive to ₹1.32 crore compared to a loss of ₹15.94 crore in the same quarter last year. The EBITDA margin for the quarter stood at 1.33%. Total income for the quarter stood at ₹856.96 crore, down from ₹1,500.44 crore in the prior year. The full year, however, remained in the red, with a net loss of ₹15.67 crore for FY26 compared to a loss of ₹18.13 crore in FY25.

Operational Challenges and Provisions

The financial results were impacted by specific operational challenges and regulatory provisions. The plant experienced shutdowns due to maintenance and a supply disruption of the key raw material Propylene by Hindustan Petroleum Corporation Ltd. (HPCL). Additionally, the company made a provision of ₹3.08 crore towards Fuel & Power Purchase Cost Adjustment (FPPCA) charges for the financial years 2022-2023 and 2023-2024, following orders from the Andhra Pradesh Electricity Regulatory Commission (APERC). The company has challenged these orders before the Appellate Tribunal for Electricity (APTEL).

Key Financial Metrics

The following table summarizes the key financial metrics for Q4FY26 compared to the corresponding quarter of the previous year:

The auditors, M/s C V Ramana Rao & Co., issued an unmodified opinion on the financial results. The 42nd Annual General Meeting of the company is scheduled for September 23, 2026.