Indus Aluminium Recyclers Limited (formerly Containerway International Limited) has announced comprehensive changes to its board composition following a board meeting held on March 25th, 2026. The meeting, which commenced at 03:30 P.M and concluded at 04:00 P.M, resulted in the appointment of three additional directors and the resignation of a key executive from multiple positions.

Board Meeting Outcomes and New Appointments

The board meeting approved three strategic appointments to strengthen the company's leadership structure:

All appointments are effective from March 25th, 2026, and require shareholder approval. The company has confirmed that these directors are not related to the promoters or promoter group and are not debarred from holding directorial positions by SEBI or other authorities.

Key Executive Departure

Sanjay Vimalchand Deora has resigned from two critical positions within the company:

Deora's resignation letters were received by the company on March 25th, 2026, and he confirmed that all his dues have been cleared by the company.

Director Profiles and Qualifications

Pankeet Pankajkumar Aundhiya brings legal expertise with B.A. LLB and LLM degrees from National University of Singapore. He is an advocate at Gujarat High Court with over 10 years of experience and fulfills the independence criteria under the Companies Act, 2013.

Kunal Arora holds a BBA degree and brings business experience from the manufacturing sector, particularly in the aluminium wire industry. He will serve dual roles as director and Chief Financial Officer.

Vansh Arora contributes business experience in trading and manufacturing within the polymers and metal wire industry, adding sector-specific expertise to the board.

Regulatory Compliance and Documentation

The board changes have been communicated to BSE Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided comprehensive disclosure information as required under Schedule III of the listing regulations and SEBI Master Circular bearing Ref. No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

The independent directors fulfill the criteria of independence as mandated under the Companies Act, 2013, and the listing regulations. All directorial appointments will require formal approval from shareholders of the company. The managing director, Sanket Sanjay Deora (DIN: 01417446), has digitally signed the regulatory filings confirming these changes.

Indus Aluminium Recyclers Limited has announced its unaudited standalone financial results for the third quarter ended December 31, 2025, showcasing mixed performance with revenue decline but sustained profitability. The company, formerly known as Containerway International Limited, submitted these results under Regulation 30 of SEBI listing requirements.

Quarterly Financial Performance

The company's Q3 FY26 performance reflected operational challenges with revenue contraction but maintained positive earnings. Revenue from operations declined to ₹403.00 lakhs in Q3 FY26 from ₹628.78 lakhs in the previous quarter (Q2 FY26). When compared to the corresponding quarter of the previous year (Q3 FY25), revenue showed a significant decrease from ₹1,031.11 lakhs.

Expense Management and Profitability

Despite revenue challenges, the company demonstrated effective cost management. Total expenses for Q3 FY26 stood at ₹403.11 lakhs, primarily driven by purchase of stock-in-trade amounting to ₹395.93 lakhs. Other significant expenses included finance costs of ₹0.84 lakhs and other expenses of ₹5.79 lakhs. The company achieved a profit before tax of ₹1.91 lakhs, ultimately resulting in a net profit of ₹2.19 lakhs after accounting for deferred tax of ₹0.28 lakhs.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, the company's performance showed contrasting trends. Total revenue reached ₹1,757.81 lakhs compared to ₹1,324.70 lakhs in the corresponding period of the previous year. However, the company recorded a net loss of ₹198.01 lakhs for the nine-month period, significantly different from the profit of ₹83.99 lakhs achieved in the same period last year.

Earnings Per Share and Capital Structure

The company's earnings per share for Q3 FY26 stood at ₹0.02 (basic) and ₹0.01 (diluted), compared to ₹0.04 (basic) and ₹0.03 (diluted) in the previous quarter. The paid-up equity share capital remained stable at ₹578.61 lakhs with a face value of ₹5.00 per share. For the nine-month period, the company reported a negative earnings per share of ₹1.71 (both basic and diluted).

Board Approval and Compliance

The Board of Directors approved these unaudited financial results at their meeting held on February 14, 2026, which commenced at 11:30 AM and concluded at 12:00 PM. The results were prepared in accordance with Indian Accounting Standards (Ind AS) and reviewed by the Audit Committee before board approval. The statutory auditors M/s. RAJESHKUMAR P SHAH & CO issued a Limited Review Report confirming compliance with applicable accounting standards and SEBI regulations. The company operates as a single segment entity in accordance with Ind-AS 108 on Operating Segments.