Hardwyn India Limited has appointed Mr. Eakam Sayal as an additional director, effective August 29, 2026. The Board approved the move during a meeting held at the company’s registered office on Saturday.

Mr. Sayal joins the board in the category of Non-executive and Non-Independent Director. His appointment is subject to ratification by the company’s members at the ensuing Annual General Meeting.

Board Approval Details

The Board of Directors considered and approved the appointment based on the recommendation of the Nomination and Remuneration Committee. The meeting commenced at 2:30 pm and concluded at 2:55 pm on August 29, 2026.

The intimation was issued pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Part A of Schedule III.

Director Profile

Mr. Eakam Sayal (DIN: 11916539) is currently pursuing an undergraduate degree in Business and Finance at the University of California, San Diego, in the United States.

He will hold office up to the date of the ensuing Annual General Meeting. The filing discloses that he is the son of Mr. Rubaljeet Singh Sayal, who serves as the Managing Director and CFO of Hardwyn India Limited.

Hardwyn India reported a contraction in revenue and profitability for the first quarter of FY26, reflecting a challenging operating environment compared to the same period last year. The company’s total revenue fell to ₹346 million, down from ₹429 million in the corresponding prior-year quarter. This top-line decline was accompanied by a drop in bottom-line performance, with consolidated net profit decreasing to ₹28 million from ₹36 million year-on-year.

The Board of Directors approved the un-audited standalone and consolidated financial results for the quarter ended June 30, 2026, at a meeting held on August 14, 2026. The results were published on August 15, 2026, in the Financial Express and Jansatta newspapers, pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance Overview

The decline in revenue translated into lower absolute earnings for the period. Hardwyn India’s EBITDA stood at ₹45 million in Q1, a decrease from ₹57 million recorded in the previous year’s first quarter. The compression in earnings is further highlighted by the movement in operating margins.

What the Numbers Show

The divergence between revenue decline and margin stability suggests that while volume or pricing pressures impacted the top line, cost structures remained relatively resilient. EBITDA margin contracted by only 27 basis points, from 13.25% to 12.98%, despite a significant drop in revenue scale. This indicates that operating leverage was maintained to some extent, although the absolute reduction in EBITDA (₹12 million) directly pressured the net profit figure, which fell by ₹8 million. The data points to a period where growth drivers were absent, leading to a straightforward contraction in both sales and earnings without severe operational inefficiency.