Chemiesynth (Vapi) Limited has formalized the appointment of M/s Purvi Gandhi & Associates as its Internal Auditor through an official board resolution passed on March 25, 2026. The company's Board of Directors convened at 11:00 AM at their registered office in Vapi, Gujarat, to approve this significant corporate governance decision covering Financial Years 2025-26 and 2026-27.

Board Resolution Details

The Board meeting was held at the company's registered office located at Plot No. 27, GIDC, Phase-1, Vapi, Gujarat. The resolution was passed pursuant to Section 138 and other applicable provisions of the Companies Act, 2013, demonstrating the company's adherence to statutory requirements for internal audit appointments.

Internal Auditor Appointment Specifics

The board resolution formally appointed M/s Purvi Gandhi & Associates, Chartered Accountant, with Registration Number 145052W as the company's Internal Auditor. The appointment encompasses a comprehensive two-year period covering both Financial Years 2025-26 and 2026-27, with remuneration to be mutually agreed between the Internal Auditor and the Board of Directors.

Regulatory Framework and Compliance

The resolution was passed in accordance with Section 138 of the Companies Act, 2013, which mandates internal audit requirements for specified companies. The board also approved the draft engagement letter specifying the scope, functioning, methodology, and remuneration framework developed in consultation with the Audit Committee. This comprehensive approach ensures proper governance oversight and regulatory compliance.

Corporate Governance Enhancement

The appointment reinforces Chemiesynth (Vapi) Limited's commitment to robust internal controls and corporate governance standards. The resolution authorizes any director to execute necessary documents and undertake required actions to implement this appointment effectively. The digital signature of Managing Director Sandip S Zaveri on the resolution document provides authentication and legal validity to this corporate decision, strengthening the company's governance framework for the upcoming financial years.

Chemiesynth (Vapi) Limited announced its unaudited financial results for the third quarter of fiscal year 2025, ended December 31, 2025. The Gujarat-based chemical manufacturing company demonstrated revenue growth despite facing profitability challenges during the quarter.

Financial Performance Overview

The company's quarterly performance showed contrasting trends in revenue and profitability metrics:

Nine-Month Performance Analysis

The nine-month period ended December 31, 2025, reflected similar patterns with substantial revenue growth accompanied by increased losses:

Expense Structure and Cost Analysis

The company's expense breakdown for Q3FY25 revealed significant cost pressures across multiple categories. Other expenses constituted the largest component at ₹272.62 lakh, followed by cost of materials consumed at ₹117.36 lakh. Employee benefits expense stood at ₹87.11 lakh, while depreciation and amortization expense was ₹37.50 lakh. Finance costs decreased to ₹25.69 lakh from ₹34.40 lakh in Q3FY24.

Sequential Quarter Comparison

Comparing Q3FY25 with the previous quarter (Q2FY25), revenue declined from ₹687.15 lakh to ₹508.66 lakh, representing a 25.98% sequential decrease. The net loss also widened from ₹43.95 lakh in Q2FY25 to ₹69.71 lakh in Q3FY25.

Corporate Governance Updates

The Board of Directors meeting held on February 13, 2025, addressed several key matters:

• Approval of unaudited financial results for Q3FY25 and nine months ended December 31, 2025
• Consideration of the Limited Review Report from Statutory Auditor
• Reconstitution of the Nomination & Remuneration Committee

The meeting commenced at 2:00 p.m. and concluded at 3:00 p.m., with all proceedings conducted in accordance with regulatory requirements under SEBI Listing Regulations.

Company Profile and Operations

Chemiesynth (Vapi) Limited operates in the chemical manufacturing sector with its registered office located at Plot No. 27, GIDC, Phase-1, Vapi, Gujarat. The company maintains a single business segment focused on manufacturing of chemicals, with a paid-up equity capital of ₹307.00 lakh consisting of shares with a face value of ₹10 each.