Indo Rama Synthetics (India) Limited has announced the detailed schedule for remote e-voting on its postal ballot seeking shareholder approval for key director appointments. The company set March 20, 2026 as the cut-off date for determining voting entitlements and has engaged National Securities Depository Limited (NSDL) to provide the e-voting facility.

E-Voting Schedule and Process

The remote e-voting process will be conducted exclusively through electronic means, with no physical postal ballot forms being distributed. The company has outlined a comprehensive timeline for the voting process:

Proposed Director Appointments

Shareholders will vote on two significant appointments through ordinary and special resolutions:

Ordinary Resolution: Appointment of Mr. Vipin Kumar (DIN: 07355025) as Non-Executive, Non-Independent Director. Mr. Kumar brings 33+ years of experience in polyester fiber and filament business operations and currently serves as Chief Commercial Officer for Fibers business at Indorama Ventures PCL.

Special Resolution: Appointment of Mr. Sanjay Gupta (DIN: 11471106) as Whole-Time Director for a three-year term from January 31, 2026 to January 30, 2029. Mr. Gupta, an IIT Delhi graduate, has 42+ years of experience in large-scale manufacturing operations and strategic business transformation in the polyester industry.

Remuneration and Terms

Mr. Sanjay Gupta's appointment includes comprehensive remuneration package with basic salary of ₹5,21,624 per month, along with various allowances including HRA of ₹3,12,974 monthly, conveyance allowance, and other benefits as per company policy.

Voting Eligibility and Access

Shareholders whose names appear in the Register of Members or List of Beneficial Owners as of the cut-off date will be eligible to participate. The company has sent postal ballot notices via email to registered addresses and made the notice available on its website at www.indoramaindia.com . CS Jaya Yadav has been appointed as the scrutinizer to conduct the postal ballot process.

The resolutions, if approved by requisite majority, will be deemed passed on April 22, 2026, the last date of remote e-voting.

Indo Rama Synthetics (India) Limited announced its unaudited financial results for the third quarter and nine months ended December 31, 2025, alongside significant board restructuring decisions at its meeting held on January 31, 2026. The company reported Q3FY26 EBITDA of ₹51 crore compared to ₹67.7 crore in the corresponding quarter of the previous year, with EBITDA margin declining to 4.31% from 5.80%.

Financial Performance Q3FY26

The company reported mixed performance in Q3FY26 compared to the previous year. On a consolidated basis, total income for Q3FY26 stood at ₹11.8 billion, representing a marginal increase from ₹11.7 billion in Q3FY25. However, profitability metrics showed pressure with net profit declining to ₹88 million from ₹136 million in the corresponding quarter of the previous year.

Nine Months Performance FY26

For the nine months ended December 31, 2025, the company demonstrated strong year-over-year growth. Consolidated total income increased significantly to ₹3,722.08 crore from ₹3,066.73 crore in the corresponding period of FY25, marking a 21.37% growth.

Board Changes and Appointments

The Board of Directors approved several key personnel changes effective January 31, 2026. The company accepted resignations from Mr. Dilip Kumar Agarwal (DIN 03487162) as Non-Executive Non-Independent Director and Mr. Sanjay Thapliyal (DIN 08294006) as Whole-time Director, both citing personal reasons.

Committee Restructuring

Following the board composition changes, Indo Rama Synthetics restructured all its statutory committees. The Audit Committee now comprises six members with Mr. Dhanendra Kumar as Chairman.

Operational Highlights

The company noted that performance was impacted by volatile market conditions following the withdrawal of Quality Control Order (QCO) on the company's fiber products and raw materials in November 2025. Despite short-term margin pressures, the company maintained its integrated manufacturing operations at Butibori, Nagpur, with production capacity of 6,72,000 tons per annum across polyester staple fiber, filament yarn, and related products.