Mehul Colours Limited appointed Tejas Harish Joshi as an additional executive director on September 5, 2026. The board approved the appointment during a meeting held at its registered office in Mumbai.

The appointment requires shareholder approval at the company’s ensuing general meeting. It follows a recommendation from the Nomination and Remuneration Committee.

Board Meeting Outcome

The board also approved the notice for the 31st Annual General Meeting (AGM). Shareholders will receive the AGM notice along with the Board’s Report and Annual Report for FY26 within statutory timelines.

Director Profile

Tejas Harish Joshi brings over 15 years of experience with Mehul Colours Limited. He holds an SSC qualification and has extensive hands-on knowledge of manufacturing and business operations. His profile highlights a deep understanding of factory operations, production processes, workforce management, quality requirements, customer needs, and day-to-day business administration.

He is not related to any existing directors on the board. With his extensive practical experience and organisational knowledge, Mr. Joshi will be responsible for overseeing the company's day-to-day operations and business activities.

Regulatory Compliance

The company confirmed that Mr. Joshi is not debarred from holding office under any SEBI order or other authority. This aligns with BSE Circular no. LIST/COMP/14/2018-19 dated June 20, 2018.

The disclosure complies with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided required details in Annexure 1 of the filing.

Mehul Colours Limited reported a net profit of ₹5.22 crore for the financial year ended March 31, 2026, on revenue from operations of ₹30.40 crore. Revenue increased by 33.2% from ₹22.82 crore in the previous year, driven by strategic growth and the addition of new business opportunities. The company's board approved the audited standalone financial results for the year and half-year ended March 31, 2026, at a meeting held on May 30, 2026.

For the half-year ended March 31, 2026, the company recorded a net profit of ₹1.93 crore on revenue from operations of ₹16.19 lakh. In comparison, the net profit for the half-year ended September 30, 2025, was ₹3.29 lakh on revenue of ₹14.21 lakh. Total income for FY26 stood at ₹31.81 crore, compared to ₹23.71 crore in the previous year. Statutory auditors YMS & Co. LLP issued an unmodified opinion on the financial results.

Financial Performance

The company's total expenses for FY26 increased to ₹24.77 crore from ₹16.30 crore in the previous year. The cost of materials consumed rose to ₹17.49 crore from ₹10.42 crore. Earnings per share (EPS) for FY26 were reported at ₹4.95, down from ₹7.30 in the previous year. The paid-up equity share capital increased to ₹10.54 crore from ₹7.54 crore in the prior year.

Cash Flow Position

The company reported a net increase in cash and cash equivalents of ₹13.03 crore for FY26, bringing the closing balance to ₹14.33 crore. Cash generated from operations was negative at ₹(5.23) crore, while net cash inflow from financing activities was ₹20.92 crore, primarily driven by proceeds from the issue of share capital and securities premium. Investing activities resulted in a net outflow of ₹(7.72) crore, largely due to investments in non-current assets and current investments.

Utilization of IPO Proceeds

The board adopted the statement of utilization of issue proceeds raised through the Initial Public Offering (IPO). The company raised ₹21.65 crore, listing on BSE Limited on August 6, 2025. As of March 31, 2026, the company had utilized ₹10.62 crore of the total proceeds. The primary utilization included ₹3.72 crore for capital expenditure towards a new manufacturing facility and ₹4 crore for working capital requirements. The unutilized amount of ₹11.03 crore is temporarily lying in a separate bank account.

Management attributed the revenue growth to the pursuit of selected high-volume business opportunities and an expanded customer base, while noting that profitability was impacted by fluctuations in raw material prices. The company confirmed that it does not have any subsidiary, associate, or joint venture as of March 31, 2026.