Jyoti Resins & Adhesives has appointed Margi N. Shah as its Company Secretary and Compliance Officer. The appointment takes effect from August 29, 2026, following approval by the Board of Directors.

The decision was taken during a board meeting held on Saturday, August 29, 2026. The session commenced at 7:15 pm and concluded at 7:40 pm. Utkarsh Patel, Managing Director, signed the disclosure.

Regulatory Compliance

The appointment adheres to Section 203 of the Companies Act, 2013, and Regulation 6 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company notified the BSE Limited pursuant to Regulation 30 read with Schedule III of the SEBI LODR Regulations.

Appointee Profile

Ms. Shah holds membership number A74016 with the Institute of Company Secretaries of India. She possesses the requisite professional qualifications to discharge the responsibilities of the role. The disclosure confirms she holds no shareholding in the company and is not related to any of the directors.

Jyoti Resins & Adhesives reported a record annual revenue of ₹31,474 lakh for FY26, marking a 10.8% year-on-year increase. The company, a leading manufacturer of wood adhesives, crossed the ₹300 crore revenue mark for the first time in its history, driven by volume growth and deeper market penetration across 14 states.

Despite the topline expansion, net profit after tax (PAT) declined by 5.3% to ₹6,998 lakh from ₹7,387 lakh in the previous year. EBITDA also contracted by 5.0% to ₹8,497 lakh, reflecting deliberate strategic investments in brand building and channel development that pressured operating margins.

Financial Performance

The financial results for the fiscal year ended March 31, 2026, highlight a divergence between top-line growth and bottom-line profitability. While revenue grew steadily, operating costs rose faster than income, leading to margin compression.

Operating cash flow surged significantly to ₹48.06 crore, more than tripling the prior year’s figure of ₹14.75 crore. This robust cash generation underscores the company’s strong working capital management despite the profit dip.

What the Numbers Show

The decline in profitability was primarily driven by increased operating expenses rather than core production costs. Gross margin improved slightly by approximately 119 basis points to around 70.2%, adding roughly ₹24.87 crore to gross profit. However, this gain was offset by a sharp rise in operating costs, particularly in sales promotion and other expenses.

Sales promotion expenses jumped 13.9% to ₹52.54 crore, while commissions rose 37.6% to ₹9.80 crore. Most notably, "Other Expenses" ballooned by 83.5% to ₹34.75 crore from ₹18.94 crore. Management attributed these increases to deliberate investments in the 'EURO 7000' brand, including a national campaign featuring brand ambassador Pankaj Tripathi, and expanded trade support initiatives aimed at long-term market share gains.

Balance Sheet and Dividends

Jyoti Resins remains debt-free, maintaining a debt-equity ratio of zero. The company holds a strong treasury position with cash and bank balances totaling approximately ₹165.93 crore. Current assets stood at ₹36,617 lakh against current liabilities of ₹12,865 lakh, resulting in a healthy current ratio of 2.85, up from 2.30 in FY25.

The Board has recommended a final dividend of ₹9 per share (90% of face value), marking the third consecutive year at this level. This payout represents a dividend yield based on the current share price and reflects the company’s commitment to returning capital to shareholders while retaining sufficient accruals for future capacity expansion.

Strategic Outlook

The company plans to fund all future capital expenditures from internal accruals, avoiding external borrowings. Key strategic priorities include accelerating digitization, deepening penetration in existing markets, and launching disruptive product variants under the EURO 7000 portfolio. The Board aims to build toward ₹500 crore in revenue over the coming years, supported by planned brownfield and greenfield capacity additions.