Gem Aromatics Limited confirmed that Kiran Sirsalmath, General Manager of Research and Development, has resigned from his position. His tenure as Senior Management Personnel will cease with effect from the close of business hours on September 30, 2026.

The company filed an intimation with BSE and NSE under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The resignation was attributed to personal reasons and better career prospects, as stated in the resignation letter dated August 10, 2026.

Disclosure details

The following table outlines the key particulars disclosed in Annexure I regarding the change in senior management:

The resignation letter from Dr. Kiran T Sirsalmath requested relief from duties on or before September 30, 2026. The company’s Whole-Time Director and CFO, Kaksha Vipul Parekh, signed the official communication to the stock exchanges.

Regulatory compliance

The disclosure complies with Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026, dated January 30, 2026. The company stated that the necessary details are available on its website. No other senior management changes were reported in this filing.

Gem Aromatics Limited authorized the conversion of pre-existing inter-company loans into equity shares of its wholly owned subsidiary, Krystal Ingredients Private Limited. The transaction aims to strengthen the subsidiary's capital base without requiring any fresh infusion of capital from the parent company.

The Executive Committee of the Board approved the move during a meeting held on September 22, 2026. The conversion involves issuing equity shares at a price of ₹47,710 per share, comprising a face value of ₹10 and a premium of ₹47,700. Since the parent company holds 100% of the subsidiary, this transaction will not alter the existing shareholding pattern.

Transaction Details and Regulatory Compliance

The company disclosed the development pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. As the transaction is between a holding company and its wholly owned subsidiary, it is exempt from specific related party transaction provisions under Listing Regulations, though it remains on an arm's length basis. No governmental or regulatory approvals are required for this acquisition, which is expected to be completed within one month of requisite internal approvals.

Subsidiary Financial Performance

Krystal Ingredients Private Limited, incorporated in April 2021, is engaged in manufacturing and exporting essential oils, aroma chemicals, and specialty chemicals. The subsidiary has demonstrated significant revenue acceleration in recent fiscal years, transitioning from minimal turnover to substantial operations.

What the Numbers Show

The data reveals a sharp inflection point in Krystal Ingredients' business trajectory. Turnover surged from ₹1,111.35 thousand in FY24 to ₹3,23,296.64 thousand in FY26, indicating rapid scaling of operations. With a net worth of ₹5,98,643.63 thousand in FY26, the subsidiary maintains a robust balance sheet relative to its recent revenue growth. Converting debt to equity eliminates interest obligations on these inter-company loans, potentially improving the subsidiary's net margin profile as it continues to expand its export footprint.