Lime Chemicals reported a net loss of ₹14.49 lakh for FY26, reversing a profit of ₹20.05 lakh in the previous year. Revenue from operations fell 27% to ₹711.7 lakh, driven by a shift toward trading activities and lower manufacturing output.

The company will hold its 56th Annual General Meeting on September 30, 2026, at its registered office in Mumbai. The Register of Members and Share Transfer Books will remain closed from September 27 to September 29, 2026. The cut-off date for e-voting rights is September 23, 2026.

Financial Performance

The decline in profitability was primarily due to a drop in gross profit, which turned negative at (₹5.26 lakh) compared to ₹46.77 lakh in FY25. Revenue from operations decreased from ₹966.65 lakh to ₹711.69 lakh. While cost of material consumed dropped significantly as manufacturing scaled back, purchases of stock-in-trade rose sharply to ₹977.66 lakh from ₹306.49 lakh, reflecting increased trading volumes.

Other income declined to ₹40.23 lakh from ₹60.94 lakh, largely due to a reduction in sundry balances written back. Finance costs decreased to ₹3.11 lakh from ₹15.21 lakh, providing some relief to the bottom line. The company did not recommend any dividend for the year.

Agenda Highlights

Shareholders will vote on several ordinary and special business items. Key appointments include the re-appointment of Mrs. Shahnaz Ahmed Dawoodani (DIN 02324234), who retires by rotation. The Board proposes appointing Mr. Samir Kumar Das and Ms. Rakhi Upadhyay as Independent Directors for a five-year term up to the conclusion of the AGM in calendar year 2031.

Additionally, Mr. Zaryab Ahmed Sayyed, currently an Independent Director, will be designated as a non-executive non-independent Director liable to retire by rotation.

Related Party Transactions

The AGM will seek approval for related-party transactions under Section 188 of the Companies Act, 2013. The proposed transactions are at arm's length and in the ordinary course of business.

The largest transaction involves Himachal Polyolefins Limited, with an aggregate limit of ₹4 crore for purchases, sales, inter-corporate borrowings, and guarantees. This represents approximately 664.96% of the annual turnover of FY25-26.

Other Resolutions

Shareholders will also ratify the remuneration of Cost Auditors, Mr. Pradip Mohanlal Damania, fixed at ₹25,000 plus out-of-pocket expenses for FY27. Furthermore, a special resolution seeks approval for corporate guarantees or security up to ₹5 crore for associate or group entities.

Voting Details

Remote e-voting opens at 9:00 am on September 27, 2026 and closes at 5:00 pm on September 29, 2026. Beneficial owners must be on record by September 23, 2026 to participate. Voting rights are proportional to the shareholding in paid-up equity capital as on the cut-off date.

Lime Chemicals Limited has reshuffled its Board of Directors following the resignation of Mr. Avinash Jhaveri, who served as the Non-Executive Independent Director designated as Chairman. The resignation, effective August 04, 2026, was submitted to concentrate on personal commitments, with no other material reasons disclosed. In response, the Board appointed Mr. Samir Kumar Das as the new Non-Executive Independent Director designated as Chairman of the Board on the same date. Additionally, Ms. Rakhi Jayantilal Upadhyay was appointed as a Non-Executive Independent Director.

These appointments were made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Part A of Schedule III of the Listing Regulations and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The Board meeting held on August 04, 2026, formalized these changes and subsequently reconstituted four key statutory committees to reflect the new directorial lineup.

Mr. Samir Kumar Das brings over 30 years of leadership experience from top BFSI institutions, including SBI, ICICI Bank, Axis Bank, Tata Capital, and Aditya Birla Finance. As an Insolvency Professional, he specializes in governance, corporate and SME risk management, stressed asset resolution, and compliance oversight under the Insolvency & Bankruptcy Code. He currently serves as a Non-Executive Independent Director at Monika Alcobev Limited. Ms. Rakhi Jayantilal Upadhyay contributes more than 25 years of experience as a Financial Consultant, focusing on due diligence and verification.

The reconstitution of the committees is detailed below:

Committee Reconstitution

Audit Committee

Nomination and Remuneration Committee

Stakeholders Grievance Committee

Risk Management Committee

Governance Implications

The departure of Mr. Jhaveri marks a leadership transition for Lime Chemicals Limited, which has maintained over five decades of manufacturing excellence in calcium carbonate. Mr. Jhaveri confirmed that he holds no other directorships in listed companies. Both incoming directors, Mr. Das and Ms. Upadhyay, have confirmed they are not related to any Director, Promoter, or Promoter Group of the Company and are not debarred from holding office. The structural shift places significant emphasis on financial expertise and insolvency resolution within the Board’s governance framework, particularly through Mr. Das’s chairmanship of the Audit Committee.