Recode Studios has accepted the resignation of Sarat Kumar Mishra from his position as Independent Director, with effect from August 17, 2026. The company disclosed the development in a filing with BSE Limited on August 18, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Mishra’s resignation was triggered by his inability to attend board and committee meetings in person due to preoccupation with other matters. In his resignation letter dated August 17, 2026, he highlighted the logistical challenge of traveling to Ludhiana for meetings. He noted that since the Audit Committee, CSR Committee, and Remuneration Committee are critical to the Board’s functioning, it would be appropriate for the company to appoint local professionals to head these bodies.

Consequently, Mishra ceased to be a member of the Audit Committee and the Stakeholders Relationship Committee. He also stepped down as Chairman of the Nomination and Remuneration Committee. The company confirmed that there are no material reasons for his resignation other than those stated in his letter.

Key Details of Resignation

The filing was signed by Dheeraj Bansal, Managing Director of Recode Studios Limited. The company is required to file form DIR-12 with the Registrar of Companies to formalize the disengagement.

Recode Studios Limited has announced the opening of its first NewU store at The Opulent Mall, Ghaziabad. This launch marks a significant step in the company’s retail expansion strategy and deepens its association with NewU, the beauty and personal care retail chain operated by H&B Stores Limited, a wholly owned subsidiary of Dabur India Limited.

The Ghaziabad store serves as the foundation for a broader push into modern trade channels. Recode Studios plans to open approximately 15–20 additional NewU stores over the next 12 months across high-potential markets. Modern trade is identified as a preferred channel for premium and luxury beauty products, offering enhanced brand visibility and a superior customer experience compared to traditional retail formats.

Strategic Retail Expansion

The expansion aims to strengthen the company’s footprint in organised beauty retail while enabling access to a larger customer base through strategically located stores. With the first store now operational, the focus shifts to scaling the modern trade network. The company intends to leverage this network to expand its luxury product portfolio, enhance margins, and drive higher average order values.

Management Commentary

Dheeraj Bansal, Chairman & Managing Director, described the opening as an important milestone in the company’s retail journey. He noted that the association with NewU and the Dabur ecosystem provides an opportunity to participate in the rapidly evolving organised beauty and personal care retail market.

"We see this store as the beginning of a much larger expansion journey," Bansal said, reiterating the target of opening 15-20 additional NewU stores over the next 12 months.

What the Numbers Show

The disclosed plan to open 15-20 stores in FY27 represents a significant acceleration from the initial single-store launch. This rapid scaling strategy indicates a strong reliance on the NewU format for near-term revenue growth and margin enhancement, rather than organic brand-only store rollouts.

About Recode Studios Limited

Recode Studios Limited is a fast-growing Indian beauty and personal care brand offering a diverse portfolio of over 350 SKUs across cosmetics, skincare, and personal care categories. The company follows an asset-light business model, focusing on product innovation, branding, marketing, and distribution while leveraging third-party manufacturing capabilities. It has established an omnichannel presence through its retail network, e-commerce platforms, and distribution channels.