Empire Industries Limited , a diversified conglomerate, reported a 10% year-on-year increase in revenue for the first quarter, alongside strategic changes to its board composition.

Financial Performance

The company's revenue for Q1 stood at ₹166.80 crores, up from ₹151.67 crores in the same period last year. Despite the top-line growth, net profit remained relatively stable at ₹9.62 crores compared to ₹9.69 crores in Q1 of the previous year.

Empire Industries operates across four segments, each contributing to the overall revenue:

The Trading and Indenting segment emerged as the strongest performer with a 19.2% year-on-year growth, while the Property Development segment experienced a significant decline of 47.8%.

Board Appointments and Changes

The company's board approved several key appointments and changes:

1. Re-appointment: Mr. Kabir Malhotra has been re-appointed as Whole Time Director for a five-year term, subject to shareholder approval.

2. New Appointments:

   • Mr. Sujoy Sengupta and Mrs. Bhavna Damodar Prabhu have been appointed as Additional Directors in the category of Non-Executive Independent Directors, pending approval at the upcoming annual general meeting.
   • Mr. Sengupta will join the Audit Committee.
   • Mrs. Prabhu will be inducted into the Nomination & Remuneration Committee and Stakeholder Relationship Committee.

3. Term Completion: The second term of Mr. Subodh Chandra as Non-Executive Independent Director will conclude on September 27.

Asset Growth and Segment Performance

Empire Industries reported a 6.7% increase in total assets, reaching ₹801.13 crores, compared to ₹750.92 crores in the previous quarter.

The segment-wise performance for Q1 shows:

• Manufacturing segment profit: ₹4.19 crores
• Trading and Indenting segment loss: ₹1.99 crores
• Property Development segment loss: ₹1.93 crores
• Others segment profit: ₹11.37 crores

Management Commentary

S. C. Malhotra, Chairman of Empire Industries Limited, stated, "Our Q1 results demonstrate resilience in challenging market conditions. The strong performance in Trading and Indenting offset the temporary setback in Property Development. We're confident that our strategic board appointments will further strengthen our governance and drive long-term growth."

The company's board meeting, held on August 13, commenced at 11:15 a.m. and concluded at 12:30 p.m., during which these results and appointments were approved.

Empire Industries Limited continues to adapt to market dynamics, focusing on its diverse business segments while strengthening its leadership team to navigate future challenges and opportunities.

Empire Industries Limited , a diversified company with interests in machine tools, industrial equipment, and food products, has announced a significant change in its leadership team. The company has appointed Mr. Joydeep Chakraborty as the Divisional Director of its Industrial Equipment division, effective August 1, 2025.

New Leadership for Industrial Equipment Division

Mr. Chakraborty brings a wealth of experience to his new role at Empire Industries. He holds a Diploma in Mechanical Engineering from Jalpaiguri Polytechnic Institute, demonstrating a strong technical background suited for the industrial equipment sector.

Career Progression within Empire Industries

Joydeep Chakraborty's appointment marks a notable progression in his career with Empire Industries. He initially joined the company as a Sales Manager in October 2005, indicating a long-standing association with the firm. Over the past two decades, Mr. Chakraborty has likely gained extensive knowledge of the company's operations and the industrial equipment market.

Previous Industry Experience

Prior to his tenure at Empire Industries, Mr. Chakraborty worked with the Indiana Group of Companies, including stints at H S Mechelons Pvt Ltd and other companies within the group. This diverse experience in the industrial sector is expected to bring valuable insights to his new leadership role.

Implications for Empire Industries

The appointment of Mr. Chakraborty as Divisional Director suggests Empire Industries' commitment to strengthening its Industrial Equipment division. This move may indicate the company's focus on enhancing its capabilities and market position in this sector.

Corporate Governance Disclosure

In line with regulatory requirements, Empire Industries has disclosed that there are no relationships between Mr. Chakraborty and other directors of the company. This transparency ensures compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Concurrent Leadership Changes

The LODR data also reveals another recent change in the company's leadership. Mr. Nagnath Srinivasa Lakshmi Narasimhan, who previously held the position of Divisional Director of Empire Industrial Equipment, has superannuated from service effective July 31, 2025. This transition appears to be part of a planned succession strategy within the Industrial Equipment division.

Empire Industries Limited, with its diverse portfolio including Empire Machine Tools, Vitrum Glass, Empire Vending (GRABBIT), Empire Foods, and The Empire Business Centre, continues to evolve its leadership to drive growth across its various business segments.