Shareholders of IVP Limited approved the re-appointment of Ranjeev Lodha and Mala Todarwal as Independent Directors for five-year terms at the company's 97th Annual General Meeting (AGM) held on August 6, 2026. The approvals were secured through special resolutions, ensuring continuity in the Board's independent oversight for the next term. This governance update aligns with regulatory requirements under the SEBI Listing Obligations and Disclosure Regulations.

The Board of Directors sought shareholder consent to renew the tenures of both directors for their second consecutive terms. Ranjeev Lodha’s term is effective from July 28, 2026, to July 27, 2031. Ms. Mala Todarwal’s term runs from June 11, 2026, to June 10, 2031. Both appointments adhere to the criteria for independent directors as mandated by corporate governance norms.

Director Tenure Details

The company disclosed that prior to the AGM, it had submitted the necessary disclosures regarding the directors' profiles and eligibility to the stock exchanges. These disclosures were made vide intimation letter Ref. No: IVPSEC/SE/370/05/2026-27 dated May 21, 2026. The submission complied with Regulation 30 read with Schedule III of the SEBI Listing Regulations and SEBI Master Circular no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

The AGM was convened at the company's registered office located at Shashikant N. Redij Marg, Ghorupdeo, Mumbai. The meeting commenced at 11:00 a.m. (IST). Jay Ramesh Mehta, Company Secretary & Compliance Officer, signed the communication to the exchanges, confirming the outcome of the resolutions.

Governance Compliance

The re-appointments reflect the company's adherence to statutory requirements for board composition. By securing approval for a second consecutive term, both directors have met the tenure limits prescribed for independent roles under current regulations. The process ensures that the Board maintains the required independence and expertise levels without disruption during the transition period between terms.

IVP Limited reported a net profit of ₹14.02 crore for the first quarter ended June 30, 2026, representing a 1079% increase compared to ₹1.19 crore in the corresponding period of FY26. The company’s revenue from operations grew 12% year-on-year to ₹154.73 crore, up from ₹138.19 crore in Q1FY26. This significant turnaround in profitability follows the resolution of temporary manufacturing closures and reflects improved cost management despite rising input costs.

The Board of Directors approved the unaudited financial results at a meeting held on August 6, 2026, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed by the Audit Committee and subjected to a limited review by the statutory auditors, M/s. Rajendra & Co., Chartered Accountants, who issued an unmodified opinion. The filing was submitted pursuant to SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016.

Financial Performance

The company’s total income stood at ₹155.82 crore, driven primarily by operating revenues. Other income remained stable at ₹1.09 crore, slightly down from ₹1.12 crore in the previous quarter but up from ₹1.06 crore in Q1FY26. Total expenses decreased to ₹137.06 crore from ₹153.60 crore in the preceding quarter, contributing to the expansion in pre-tax profits. Finance costs declined to ₹1.38 crore from ₹2.11 crore in the same quarter last year, aiding the bottom line.

Earnings per share (EPS) rose sharply to ₹13.57 from ₹1.15 in Q1FY26. Basic and diluted EPS figures were identical due to no dilutive instruments. The company’s paid-up equity share capital remained unchanged at ₹10.33 crore.

What the Numbers Show

The dramatic improvement in net profit is largely attributable to the combination of revenue growth and reduced finance costs, rather than a singular operational spike. While cost of materials consumed increased to ₹129.66 crore from ₹112.77 crore in Q1FY26, reflecting higher input prices or volume, the company managed to contain other expenses at ₹16.02 crore, down from ₹16.67 crore in the previous quarter. The decline in finance costs from ₹2.11 crore to ₹1.38 crore suggests effective debt management or lower interest rates, which directly boosted bottom-line results. Additionally, the reversal of inventory changes contributed positively to the current quarter’s performance.

Regulatory and Operational Updates

During the quarter, IVP Limited faced regulatory challenges that were subsequently resolved. On June 29, 2026, the Maharashtra Pollution Control Board (MPCB) issued directions under the Water (Prevention and Control of Pollution) Act, 1974, and the Air (Prevention and Control of Pollution) Act, 1981, requiring the closure of manufacturing operations at its Tarapur unit. Following the implementation of corrective measures and a subsequent inspection, the MPCB revoked these directions on July 9, 2026, allowing the company to resume operations. Management stated that the temporary closure did not have a material impact on operations or financial position.

Separately, the Office of the Estate Officer, Mumbai Port Authority (MBPA), had passed an eviction order under the Public Premises (Eviction of Unauthorised Occupants) Act, 1971, demanding ₹136.81 crore in arrears and damages. The Company filed an appeal before the Hon’ble City Civil Court, Mumbai, which quashed and set aside the eviction orders on July 24, 2026. These legal victories remove potential overhangs on the company’s assets and future operations.