AksharChem Reports Rs 71.10 Lakh Profit, Approves Key Reappointments
AksharChem (India) Limited reported a profit of Rs 71.10 lakhs for Q1, down from Rs 115.16 lakhs year-over-year. Revenue from operations increased to Rs 9,696.23 lakhs. The board approved reappointment of Mrs. Paru M. Jaykrishna as Chairperson & Managing Director for 2026-2029, and Mr. Bipin L. Makwana as Secretarial Auditor for 2025-2030. The company processed insurance claims for a previous fire incident, resulting in no net impact on financials.
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AksharChem (India) Limited , a prominent player in the chemical business segment, has released its financial results for the quarter ended June 30, alongside significant board decisions on key appointments.
Financial Performance
The company reported a profit of Rs 71.10 lakhs for the quarter, marking a decrease from Rs 115.16 lakhs in the same period last year. Despite the decline in profit, AksharChem's revenue from operations stood at Rs 9,696.23 lakhs for the quarter, showing resilience in its core business activities.
The financial results, as approved by the Board of Directors on July 25, reveal the following key figures:
| Particulars (Rs. in lakhs) | Q1 | Q1 (Previous Year) |
|---|---|---|
| Revenue from Operations | 9,696.23 | 8,590.83 |
| Total Income | 9,699.87 | 8,596.84 |
| Profit Before Tax | 103.23 | 158.77 |
| Net Profit | 71.10 | 115.16 |
| Earnings Per Share (Rs.) | 0.89 | 1.43 |
Key Management Decisions
In a significant move, the board approved the reappointment of Mrs. Paru M. Jaykrishna as Chairperson & Managing Director for a three-year term from April 2026 to March 2029, subject to shareholder approval. Mrs. Jaykrishna, a law graduate with degrees in Philosophy, Sanskrit, and English Literature, is renowned for her strategic decision-making and policy-making roles. She holds the distinction of being the first and only elected lady president of the Gujarat Chambers of Commerce and Industry in its 76-year history.
Additionally, Mr. Bipin L. Makwana was reappointed as Secretarial Auditor for five consecutive years from FY 2025-26 to FY 2029-30. Mr. Makwana, a practicing Company Secretary based in Ahmedabad, brings expertise in Corporate Laws and SEBI Regulations to the role.
Operational Update
The company continues to operate primarily in the chemical business segment. It's worth noting that AksharChem had previously experienced a fire incident at its plant in May 2024. The company reported that insurance claims related to this incident were processed, with a loss of Rs 402.18 lakhs recognized and an equivalent insurance claim receivable recorded, resulting in a net impact of nil under Exceptional Items.
Auditor's Review
Talati & Talati LLP, the company's statutory auditors, conducted a limited review of the financial results. They drew attention to the fire incident but did not modify their conclusion on the financial results in respect of this matter.
AksharChem's performance this quarter reflects the ongoing challenges and opportunities in the chemical sector. The company's strategic appointments and focus on core operations indicate its commitment to navigating the complex business environment and positioning itself for future growth.
Historical Stock Returns for AksharChem
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.24% | -1.46% | -2.75% | +25.56% | -20.29% | +15.83% |
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