Euro Leder Fashion has accepted the resignation of Mrs. Ashitha K as an Independent Director, effective August 07, 2026. The Chennai-based manufacturer of leather garments and goods disclosed the change in board composition pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mrs. Ashitha K cited personal commitments as the sole reason for her decision to step down from the Board of Directors.

The resignation carries immediate implications for the company’s committee structure. Upon her departure, Mrs. Ashitha K ceased to be a member of three key statutory committees: the Audit Committee, the Nomination and Remuneration Committee, and the Stakeholders Relationship Committee. The Board, led by Managing Director RM Lakshmanan, confirmed receipt of the resignation letter on August 07, 2026.

Resignation Details

Mrs. Ashitha K, who holds DIN 07233606, submitted her resignation to the Board at the company’s registered office in Chrompet, Chennai. In her resignation letter, she thanked the Board members and staff for their support and cooperation during her tenure. The company’s filing confirms that there are no other material reasons for her resignation beyond those stated in her letter.

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 of the SEBI (LODR) Regulations, 2015, read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The filing includes Annexure 1, containing the original resignation letter, and Annexure 2, which provides the required particulars under Part A of Para A of Schedule III of the LODR Regulations.

Mrs. Ashitha K provided a confirmation that there are no other material reasons for her resignation other than those mentioned in her resignation letter. The company has requested the BSE to take the information on record. The next steps will involve the Board identifying a suitable candidate to fill the vacancy in accordance with applicable corporate governance norms.

Euro Leder Fashion Limited reported a net profit of ₹1.79 lakh for the financial year ended March 31, 2026, a sharp decline from ₹19.44 lakh in the previous year. Revenue from operations for the year rose to ₹2,733.80 lakh compared to ₹1,840.48 lakh in FY25. For the quarter ended March 31, 2026, the company reported a net loss of ₹12.14 lakh, contrasting with a net profit of ₹16.89 lakh in the corresponding quarter of the previous year. The company recognized an additional gratuity and leave liability of ₹78.94 lakhs due to the notification of new Labour Codes by the Government of India.

The Board of Directors approved the audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 27, 2026. The statutory auditors, Darpan & Associates, issued an audit report with an unmodified opinion on the standalone financial results. The company confirmed that Regulation 23(9) of the SEBI (LODR) Regulations, 2015, is not applicable as its paid-up equity share capital does not exceed ₹10 crore and net worth does not exceed ₹25 crore.

Financial Performance

Total income from operations for FY26 stood at ₹2,970.14 lakh, up from ₹2,024.73 lakh in the previous year. Total expenses for the year increased to ₹2,913.88 lakh from ₹2,003.26 lakh in FY25. The basic earnings per share (EPS) for the year dropped to ₹0.05 from ₹0.50 in the prior year.

Key Financials (₹ in lakhs)

Board Decisions

The Board approved the reappointment of Mr. RM Lakshmanan as Managing Director for a further period of five years effective from June 27, 2026, to June 26, 2031, subject to shareholders' approval. Additionally, Mr. Ravindran Varadarajan was reappointed as a Non-Executive Independent Director for a second term of five years from November 9, 2026, to November 8, 2031. Mr. K. Anand, Chartered Accountant, was appointed as the Internal Auditor for the financial year 2026-27.