Brahm Virat Industries Corporation Limited announced that Bhavik Maisuria has resigned as Chief Financial Officer and Key Managerial Personnel due to personal reasons. His resignation takes effect from the close of business hours on December 31, 2026.

The company filed an intimation with BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure confirms that Maisuria will cease to be the authorized Key Managerial Personnel for determining materiality of events and making disclosures to stock exchanges from the same date.

Resignation Details

The resignation letter submitted by Maisuria to the Board of Directors states that he will complete his notice period from October 1, 2026, to December 31, 2026. He explicitly noted that there is no other material reason for his resignation beyond personal circumstances.

The company’s Managing Director, Adi F Madan, signed the regulatory filing on September 30, 2026. The resignation marks a leadership change in the finance function of the Navsari-based industrial entity.

Virat Industries Limited reported a net profit after tax of ₹49.39 lakh for FY26, marking a significant turnaround from ₹9.05 lakh in the previous year. The surge was driven by improved operating margins and substantial interest income from the preferential allotment proceeds.

Revenue from operations stood at ₹26.79 crore, a decline of 15.3% compared to ₹31.63 crore in FY25. The drop reflects a reduction in dispatch volumes, which fell to 46.94 lakh pairs from 70.41 lakh pairs in the prior year. However, better product mix and higher realization rates helped offset the volume impact on profitability.

Financial Performance Overview

The company's operational efficiency improved markedly, with EBITDA rising to ₹72.08 lakh from ₹22.68 lakh in FY25. This expansion pushed the operating margin to 29.01% from 7.56%. The profit before tax clocked ₹66.61 lakh, up sharply from ₹12.12 lakh in the corresponding period last year.

What the Numbers Show

A key divergence exists between the top-line contraction and bottom-line expansion. While revenue fell due to a 33.3% drop in dispatched volumes, the sales realization per pair increased to ₹52.93 from ₹42.60 in FY25. This shift indicates a strategic move toward higher-value products. Additionally, other income contributed significantly to profits, with interest income rising to ₹4.39 crore from ₹0.38 crore, largely due to funds parked from the preferential issue completed in May 2025.

Operational and Strategic Updates

The company produced 47.36 lakh pairs of socks during FY26, down from 69.80 lakh pairs in FY25. Exports constituted 91.29% of total dispatches, with Europe remaining the primary market. The Board recommended no dividend for FY26, opting to conserve cash for capacity upgrades and cost-reduction initiatives.

In a major corporate action, Virat Industries completed a preferential allotment of 95,99,999 equity shares at ₹104 per share to Mr. Bhavook Chandraprakash Tripathi in May 2025. This transaction raised approximately ₹99.84 crore, significantly strengthening the balance sheet. Consequently, the promoter group's holding increased to 74.55% as of March 31, 2026.

The company also announced plans to rescind a previous name change proposal and adopt a new Memorandum of Association to align with the Companies Act, 2013, reflecting its evolving business scope.