Premier Synthetics Limited , a company that recently discontinued its manufacturing operations, has announced significant strategic moves to reshape its business model and optimize its assets. The company's Board of Directors has approved key decisions that signal a shift in its business focus and a move to monetize its real estate holdings.

Business Expansion into Consultancy Services

In a board meeting held on August 25, 2025, Premier Synthetics' directors approved amendments to the company's Memorandum of Association, adding consultancy services as a new business activity. This expansion allows the company to offer a range of consultancy services, including:

• Management consultancy
• Selling consultancy
• Manufacturing consultancy
• Finance consultancy

These services will be provided to companies on various bases, including fee-based, commission-based, and profit-sharing arrangements, both in India and abroad. This move represents a significant pivot for Premier Synthetics, potentially opening up new revenue streams following the cessation of its manufacturing operations.

Asset Monetization: Land Sale Approval

In addition to the business model expansion, the board has approved the sale of a substantial land parcel. The details of the approved sale are as follows:

The company has specified that the sale price should not be less than INR 6.00 crores, indicating a minimum valuation for the property. This decision aligns with the company's recent operational changes, as Premier Synthetics had already discontinued its manufacturing operations from January 1, 2024.

Corporate Governance and Compliance

The board meeting, which lasted from 12:30 p.m. to 1:45 p.m. (IST) on August 25, 2025, also addressed several corporate governance matters:

1. Approval of resolutions under Section 180(1)(a) of the Companies Act, 2013, which likely pertains to the sale of the company's land.
2. Approval of an addendum to the Notice of the 55th Annual General Meeting, ensuring shareholders are informed of these significant changes.

It's worth noting that the proposed land sale does not fall under related party transactions, maintaining transparency in the company's dealings.

Looking Ahead

These strategic decisions by Premier Synthetics Limited mark a significant turning point for the company. By diversifying into consultancy services and monetizing its real estate assets, the company appears to be repositioning itself in the market following the cessation of its manufacturing activities.

The company's move into consultancy services, particularly in areas such as management, sales, manufacturing, and finance, suggests an attempt to leverage its existing industry knowledge and networks. Meanwhile, the land sale could provide a substantial cash infusion, potentially funding the company's transition into its new business model.

As Premier Synthetics navigates this significant transformation, stakeholders will be watching closely to see how effectively the company executes its new strategy and capitalizes on these opportunities in the consultancy sector.

Premier Synthetics Limited , a company operating in the textiles and rubber tube raw materials trading segments, has announced its financial results for the quarter ended June 30, along with key board decisions.

Financial Performance

The company reported a significant turnaround in its financial performance for Q2. Premier Synthetics posted a net profit of Rs 5.12 lakhs, compared to a loss of Rs 29.47 lakhs in the same quarter of the previous year. This marks a positive shift in the company's profitability.

Revenue from operations stood at Rs 321.64 lakhs for the quarter, with the company's two main segments contributing as follows:

The company's total income, including other income, amounted to Rs 345.11 lakhs for the quarter.

Segment-wise Performance

Premier Synthetics operates in two primary segments:

1. Trading of Textiles
2. Trading of Raw Material consumed in manufacturing of Rubber Tubes

The textiles segment showed a profit before interest and tax of Rs 15.38 lakhs, while the rubber tube raw materials segment reported a profit of Rs 0.67 lakhs.

Board Meeting Outcomes

During the board meeting held on August 13, several key decisions were made:

1. Financial Results Approval: The board approved the unaudited financial results for the quarter ended June 30.

2. New Director Appointment: Ms. Savita Gupta was appointed as an Additional Director (Independent Woman Director, Non-Executive). This appointment is subject to shareholder approval at the upcoming Annual General Meeting (AGM).

3. AGM Notice and Director's Report: The board approved the notice for the 55th Annual General Meeting and the Director's Report for the financial year ended March 31.

Other Financial Highlights

• The company's total expenses for the quarter were Rs 340.72 lakhs.
• Finance costs stood at Rs 11.66 lakhs.
• Earnings Per Share (EPS) for continuing operations was Rs 0.10.

Premier Synthetics Limited continues to focus on its two main business segments as it moves forward with its operations. The appointment of Ms. Savita Gupta as an independent director is expected to bring fresh perspectives to the company's board.

The 55th Annual General Meeting of the company will provide an opportunity for shareholders to review the company's performance and approve key appointments and reports.