CLC Industries Limited (formerly Spentex Industries Limited) announced its audited standalone financial results for the quarter ended December 31, 2025, revealing a significant shift from profitability to losses despite substantial revenue growth. The company's Board of Directors approved these results in their meeting held on January 22, 2026.

Financial Performance Analysis

The company's financial performance for Q3FY26 presents a mixed picture with strong revenue growth offset by operational challenges.

Revenue from operations witnessed remarkable growth of 422.3%, increasing from ₹606.40 crores in Q3FY25 to ₹3,167.77 crores in Q3FY26. However, this growth was accompanied by a substantial increase in total expenses to ₹3,745.85 crores from ₹1,043.62 crores in the previous year.

Nine-Month Performance Review

For the nine months ended December 31, 2025, the company reported comprehensive financial metrics:

The nine-month period showed exceptional revenue growth of over 3,200%, while the net loss for the period was ₹874.37 crores, representing an improvement from the ₹4,477.44 crores loss in the corresponding period of FY25.

Expense Structure and Operational Costs

The company's expense breakdown for Q3FY26 reveals significant operational scaling:

• Cost of Materials Consumed: ₹2,296.11 crores (vs ₹840.02 crores in Q3FY25)
• Purchases: ₹235.41 crores (vs ₹15.67 crores in Q3FY25)
• Finance Costs: ₹185.89 crores (vs ₹95.35 crores in Q3FY25)
• Other Expenses: ₹728.47 crores (vs ₹358.51 crores in Q3FY25)

Promoter Reclassification and Corporate Restructuring

A significant corporate development occurred with the reclassification of promoters following the NCLT-approved resolution plan. The new promoter structure includes:

The resolution plan, originally approved by the Committee of Creditors on April 2, 2021, received final approval from the NCLT on May 12, 2023. Corporate actions involving equity share transfers were executed by depositories in December 2025.

Audit Qualifications and Regulatory Compliance

The company's financial results received a qualified opinion from statutory auditors Ashok R. Majethia & Co. The qualification related to the unavailability of confirmation for fixed deposits worth ₹11.17 lakhs. The management has taken full provision against this amount, with the fixed deposit receipt lying with the Resolution Professional.

Business Operations and Segment Information

CLC Industries operates in a single reportable segment focusing on trading and manufacturing of cotton bales and cotton yarn. The company maintains its paid-up equity share capital at ₹1,039.47 crores with a face value of ₹10 per share. The company has applied to stock exchanges for resumption of trading of its equity shares following the completion of all corporate actions related to the resolution plan.

NCL Industries Limited has announced the appointment of Dr. Durga Prasad Subramanyam Anapindi as an Independent Director, following a Board of Directors meeting held on January 22, 2026. The appointment marks a strategic addition to the company's leadership structure as it strengthens its board composition with experienced industry expertise.

Board Meeting Outcome and Appointment Details

The Board of Directors, acting on recommendations from the Nomination and Remuneration Committee, appointed Dr. Anapindi as an additional Director in the Independent Category. The appointment details are structured as follows:

The appointment is subject to shareholder approval, which the Board will seek either through an Extraordinary General Meeting or via Postal Ballot, in accordance with the Companies Act, 2013 and SEBI Listing Regulations.

Professional Qualifications and Experience

Dr. Anapindi brings substantial credentials to NCL Industries' board, with qualifications that include:

• Fellow Member of Institute of Cost Accountants of India (ICMAI)
• PhD in Accounting

His professional experience spans over four decades in infrastructure, finance, corporate governance, and strategic management. Dr. Anapindi has held senior board and committee leadership roles, including positions as Chairman and Audit Committee Chair, with active involvement in strengthening governance, risk management, internal controls, and compliance frameworks.

Leadership Background and Industry Contributions

Dr. Anapindi served as President of the Institute of Cost Accountants of India (ICMAI), a statutory professional body established under an Act of Parliament. During his tenure, he participated as a Member of the Company Law Committee under the Ministry of Corporate Affairs and chaired the Task Force on Costing in Healthcare for the Ministry of Health & Family Welfare.

His expertise encompasses capital structuring, mergers & acquisitions, fund-raising, business valuation, and strategic advisory across infrastructure and allied sectors. His board engagements include roles as Independent Director and Chairman of infrastructure and financial services companies.

Current Directorships and Professional Associations

Dr. Anapindi currently holds directorships and interests in several organizations:

• NCC Limited
• Swell Financial Services Private Limited
• ICMAI Social Auditors Organisation
• Truplusco India LLP

Regulatory Compliance and Meeting Details

The appointment announcement was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board meeting commenced at 12:15 PM and concluded at 12:45 PM on January 22, 2026. The company has provided requisite disclosures in accordance with SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

The appointment reflects NCL Industries' commitment to strengthening its board governance structure with experienced professionals who bring diverse expertise in corporate management, financial oversight, and strategic planning capabilities.