Eastern Silk Industries Ltd announced that Mr. Sunil Kumar has resigned from the position of Chief Financial Officer (CFO), effective from the close of business hours on June 30, 2026. He will, however, continue to serve the company in the capacity of Executive Director. The decision allows him to devote greater focus towards strategic, business development, and operational areas.

The company stated that the resignation was submitted to enable a restructuring of responsibilities, ensuring the finance function is led by a dedicated professional. Mr. Kumar expressed his intention to continue contributing to the company's growth from a broader perspective in his role as Executive Director. There are no material reasons for the resignation other than those stated in his letter.

The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the resignation letter has been enclosed and filed with the necessary authorities, including the Registrar of Companies.

Details of the Change

The following table outlines the specifics of the managerial change as per the regulatory filing:

Mr. Kumar thanked the Board and Management for the trust and opportunities provided during his tenure as CFO. The company has acknowledged the receipt of the resignation and will undertake the necessary statutory filings.

Eastern Silk Industries Limited reported a net loss of ₹1,360.24 lakh for the financial year ended March 31, 2026, a significant decline from the net profit of ₹396.42 lakh recorded in the previous year. The company's revenue from operations for FY26 stood at ₹2,370.67 lakh, up from ₹2,185.37 lakh in the corresponding period last year. The board of directors approved the audited standalone financial results for the fourth quarter and financial year ended March 31, 2026, at a meeting held on May 27, 2026.

The statutory auditors, M/s. B K Shroff & Co, Chartered Accountants, issued an audit report with an unmodified opinion on the standalone financial results. The company reported a total income of ₹2,581.10 lakh for FY26, compared to ₹2,549.70 lakh in the previous year. Total expenses for the year increased to ₹3,270.10 lakh from ₹2,496.99 lakh in FY25. For the quarter ended March 31, 2026, the company reported a net loss of ₹1,342.24 lakh, with revenue from operations at ₹549.72 lakh.

Financial Performance

The company's financial results for the quarter and year ended March 31, 2026, reflect the impact of exceptional items and tax provisions. Exceptional items for the year amounted to ₹20.60 lakh, primarily related to the impact of new Labour Codes. The provision for deferred tax for the year was ₹650.64 lakh, compared to a reversal of ₹316.97 lakh in the previous year.

Operational Updates

The company completed the implementation of its resolution plan approved by the National Company Law Tribunal (NCLT), Kolkata Bench, as of March 31, 2026. The Successful Resolution Applicant infused the third tranche of payment, which was disbursed to financial creditors on July 23, 2025. The management is now focusing on reviving operations, expanding the product portfolio, and entering new markets.

During the year, the company wrote off inventories valued at ₹13.97 crore at the Falta Unit due to deterioration in quality and expiry of shelf life. This loss was written off in Capital Reserve. Additionally, brought forward tax losses amounting to ₹33.79 crore expired during the financial year 2025–26, leading to the reversal of the corresponding Deferred Tax Asset.

The board meeting, which commenced at 04:30 p.m. and concluded at 07:55 p.m. on May 27, 2026, was attended by Chairman & Director Ajay Bikram Singh and Whole-Time Director Sunil Kumar. The financial results have been prepared in compliance with the Indian Accounting Standards (Ind AS).