Chemplast Sanmar Limited has announced significant changes in its key managerial personnel structure following a board meeting held on March 20, 2026. The company informed BSE Limited and National Stock Exchange of India Limited about the leadership transition as part of a strategic realignment of responsibilities within the organization.

Board Meeting Outcome and Regulatory Compliance

The board of directors took on record that due to realignment of responsibilities, two key executives will be stepping down from their current positions effective close of business hours on March 31, 2026. As recommended by the Nomination and Remuneration Committee, the board approved new appointments effective April 1, 2026.

The board meeting commenced at 5.15 PM and concluded at 5.30 PM on March 20, 2026. The company has also authorized the new key managerial personnel under Regulation 30(5) of SEBI Listing Regulations for determining materiality of events and making disclosures to stock exchanges.

New Chief Financial Officer Profile

A R Balaji, aged 60 years, brings extensive experience to his new role as Chief Financial Officer. His educational background includes a Post-Graduation degree in Financial Management from University of Madras and an Executive Master of Business Administration from Great Lakes Institute of Management.

Balaji currently serves as the head of Treasury function of The Sanmar Group across all businesses, bringing approximately 40 years of experience in Corporate Finance and Treasury. His career highlights include:

In his four-decade career, apart from fund raising activities, he has rich experience in business transformation, strategy formulation, planning and project management. He is well respected in the financial markets and has worked extensively with domestic and international banks.

New Company Secretary Appointment

P Srinivasan, aged 60 years, has been appointed as the new Company Secretary and Compliance Officer. He is an Associate Member of the Institute of Company Secretaries of India with membership number ACS 10129 and holds a Bachelor's Degree in General Laws from Madurai Kamaraj University.

Srinivasan brings over two decades of experience in corporate governance, compliance management, and secretarial functions across listed companies. He has been associated with the company since October 2021, currently holding the position of Senior Vice President – Secretarial. Prior to joining the company, he served as Company Secretary and Compliance Officer of TVS Srichakra Limited.

Authorization and Stock Exchange Communication

The company has communicated these changes to both BSE Limited and National Stock Exchange of India Limited in compliance with Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

The leadership changes represent a strategic realignment within the organization as the company continues its operations in the chemical manufacturing sector. Both incoming executives bring substantial industry experience and expertise to their respective roles.

Chemplast Sanmar Limited held its Q3 FY26 earnings conference call on February 9, 2026, providing detailed insights into the company's challenging third quarter performance and emerging recovery signals across key business segments. The company has also published the complete earnings call transcript, ensuring transparency with stakeholders.

Earnings Call Highlights and Transcript Publication

The company published the complete transcript of its earnings conference call held on February 9, 2026, in compliance with regulatory requirements. The transcript was made available to stock exchanges and stakeholders on February 16, 2026.

Management Commentary on Q3 FY26 Performance

Managing Director Ramkumar Shankar described Q3 FY26 as "the most challenging quarter in the last 3 years" with consolidated revenues of ₹835 crore and net loss of ₹119 crore. The Suspension PVC business faced multiple headwinds including seasonal demand decline, weather-related production disruptions, and sharp fall in import parity prices due to regulatory uncertainty.

Positive Market Developments and Recovery Signs

The management highlighted several positive developments supporting improved market sentiment. PVC prices have increased by ₹7-8 per kg from January onwards, with the company expecting to reach breakeven levels in Suspension PVC by February-March 2026. The Chinese government's decision to withdraw the 13% export tax rebate on Suspension PVC effective April 2026 is expected to reduce competitive pressure from Chinese imports.

Capacity Expansion and Strategic Initiatives

The company continues progressing on key capacity expansion projects. The R32 refrigerant gas project expansion of 14 KTPA is underway, with the first swing plant of 2 KTPA capacity expected to be commissioned by end of Q4 FY26. The full R32 capacity is projected to generate approximately ₹600 crore in annual revenue once fully operational.

Leadership Transition Announcement

In a significant development, Managing Director Ramkumar Shankar announced his decision to step down effective April 1, 2026, after 13 years at the helm. Subject to requisite approvals, Ganesh Kumar will take over as Managing Director. Shankar expressed confidence that the company will continue building on its strong foundations under new leadership.

Custom Manufactured Chemicals Division Outlook

Dr. Krishna Kumar Rangachari, Head of CMCD, acknowledged the impact of the global agrochemicals slowdown on quarterly performance. However, the division continues new product development initiatives with 17 products now commercialized. The management maintains its target of achieving ₹1,000 crore revenue from CMCD, though delayed by a few quarters to FY27-28 due to slower ramp-up of new molecules.