Bhaskar Agrochemicals Limited has announced significant changes to its board composition and committee structure following a board meeting held on March 31, 2026. The decisions were made based on recommendations from the company's Nomination and Remuneration Committee and involve both new appointments and the completion of existing tenures.

New Independent Director Appointments

The board approved the appointment of two new independent directors effective April 1, 2026:

Sanjeev Kumar Koritala brings extensive experience in financial management and strategic planning as a seasoned finance professional and commerce graduate. He currently serves as Group Chief Financial Officer of the Harsha Group, one of South India's leading automobile dealership groups. In his CFO role, he oversees financial strategy, treasury operations, banking relationships, compliance, and risk management while driving financial discipline and supporting business expansion initiatives.

Chandra Sekhar Pudi is a management consultant with over 25 years of professional experience. Since 2000, he has been actively engaged in advising organizations across sectors on business strategy, financial management, and operational efficiency. His expertise spans budgeting and financial planning, MIS and performance reporting systems, working capital management, and internal control frameworks.

Director Tenure Completions

Two existing independent directors completed their tenure on March 31, 2026:

Committee Reconstitution

The board also approved the reconstitution of three key committees:

• Audit Committee
• Nomination and Remuneration Committee
• Stakeholders Relationship Committee

These changes align with the company's governance requirements and ensure continuity in oversight functions following the board composition changes.

Regulatory Compliance

The appointments and changes were disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided detailed information in compliance with SEBI circulars dated September 9, 2015, and July 13, 2023. The new appointments are subject to approval by shareholders at the company's ensuing Annual General Meeting.

Bhaskar Agrochemicals Limited announced its unaudited financial results for the quarter ended December 31, 2025, along with the declaration of an interim dividend for shareholders. The Board of Directors approved these results at their meeting held on February 13, 2026.

Financial Performance for Q3FY26

The company delivered a strong financial performance in the third quarter of FY2026. Revenue from operations reached Rs. 2,968.91 lakhs, representing a significant increase from Rs. 2,430.10 lakhs in the corresponding quarter of the previous year. Net profit for the quarter stood at Rs. 234.43 lakhs, marking substantial growth compared to Rs. 177.08 lakhs in Q3FY25.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, Bhaskar Agrochemicals demonstrated robust growth across key financial parameters. The company achieved revenue from operations of Rs. 9,334.08 lakhs compared to Rs. 6,819.43 lakhs in the corresponding period of the previous year. Net profit for the nine-month period reached Rs. 541.10 lakhs, substantially higher than Rs. 316.20 lakhs in the previous year.

Interim Dividend Declaration and Record Date

The Board of Directors declared an interim dividend of Rs. 1 per equity share, representing 10% of the face value of Rs. 10 each, for the financial year 2025-26. The company has officially confirmed Thursday, February 19, 2026 as the record date for determining eligible shareholders through its filing with BSE Limited under Regulation 42. The company will make dividend payments exclusively through electronic modes as mandated by SEBI regulations, with no physical instruments being issued.

Operational Highlights and Expenses

The company's cost structure showed mixed trends during the quarter. Cost of materials consumed increased to Rs. 2,002.78 lakhs from Rs. 1,580.33 lakhs in the previous year's corresponding quarter. Employee benefit expenses rose to Rs. 334.26 lakhs compared to Rs. 213.01 lakhs in Q3FY25. However, the company benefited from a favorable inventory adjustment of Rs. 207.50 lakhs during the quarter.

The company recognized an exceptional item of Rs. 39.54 lakhs during the quarter, representing provision for past service cost on gratuity payable to employees following the implementation of new labor codes notified by the Government of India in November 2025.

Business Outlook and Compliance

Bhaskar Agrochemicals operates primarily in the agrochemicals sector, which the management recognizes as its sole business segment. The company noted that due to the seasonal nature of its business, financial results tend to vary from quarter to quarter. The financial results have been prepared in accordance with Indian Accounting Standards and have undergone limited review by the company's statutory auditors. The dividend record date communication was signed by P. Praveen Kumar, Joint Managing Director & CFO.