Exxaro tiles Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, following approval by the Board of Directors at their meeting held on February 14, 2026. The board meeting commenced at 11:00 A.M. and concluded at 12:30 P.M.

Board Meeting Outcomes

The Board of Directors approved and took on record the unaudited financial results (standalone and consolidated) for the quarter and nine months ended December 31, 2025. The financial results were prepared in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with limited review reports from statutory auditors.

Quarterly Financial Performance

The company's consolidated financial results for Q3FY26 showed mixed performance compared to the previous year. Revenue from operations decreased to ₹7,010.93 lakhs from ₹7,943.60 lakhs in Q3FY25, representing a decline in quarterly operational income.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, Exxaro Tiles demonstrated improved performance with a significant turnaround in profitability. The company moved from a loss position to profitability during this period.

Auditor Review and Compliance

The unaudited financial results underwent limited review by H.B. Kalaria & Associates, the company's statutory auditors. The auditors confirmed that the financial results were prepared in accordance with Indian Accounting Standard 34 "Interim Financial Reporting" and comply with SEBI listing regulations.

Corporate Structure and Operations

The company operates in manufacturing and trading of refractory ceramic products, specifically vitrified tiles. As a single-segment business, segment reporting is not applicable under Indian Accounting Standard 108. The consolidated results include performance of subsidiary Exxaro Ceramic Limited, with paid-up equity share capital of ₹4,474.11 lakhs at face value of ₹1 per share.

Exxaro Tiles Limited (ISIN: INE0GFE01026) has announced significant changes to its leadership structure, including the re-appointment of key directors and the addition of new members to its executive team. These changes, approved by the company's Board of Directors, are set to strengthen Exxaro Tiles' management and governance framework.

Board Re-appointments

The Board has approved the re-appointment of three directors for five-year terms, effective from January 6, 2026, to January 5, 2031, subject to shareholder approval:

1. Mr. Mukeshkumar B. Patel - Re-appointed as Managing Director
2. Mr. Kirankumar B. Patel - Re-appointed as Whole Time Director
3. Mr. Dineshkumar R. Patel - Re-appointed as Whole Time Director

New Appointments

In addition to the re-appointments, the Board has made two significant new appointments:

1. Mr. Miten Majmundar - Appointed as Additional Non-Executive (Independent) Director for a five-year term from November 18, 2025, to November 17, 2030, subject to shareholder approval.
2. Mr. Jigneshkumar B. Patel - Appointed as Chief Financial Officer, effective November 18, 2025.

Key Details of Appointments

Mr. Mukeshkumar B. Patel (Managing Director)

• Age: 47 years
• Experience: Approximately 22+ years in financial and marketing operations in the building material & Ceramic Industry
• Responsibilities: Overall business and commercial strategy, accounting, and financial operations

Mr. Kirankumar B. Patel (Whole Time Director)

• Age: 40 years
• Experience: Over 15+ years in sales and marketing operations in the manufacturing industry
• Responsibilities: Sales and Distribution process, human resources department

Mr. Dineshkumar R. Patel (Whole Time Director)

• Age: 55 years
• Experience: 25+ years in production activities and process streamlining
• Responsibilities: Production and administrative operations at the Talod manufacturing facility

Mr. Miten Majmundar (Independent Director)

• Qualifications: Chartered Accountant (May 2005 batch)
• Experience: Over 18 years in Corporate Banking, specializing in MSME and Corporate Banking Verticals
• Current Role: Consultant for corporate banking requirements and founder of ProAssess Intelli

Mr. Jigneshkumar B. Patel (Chief Financial Officer)

• Qualifications: Chartered Accountant
• Experience: Over 12 years in Finance, Accounts, Taxation, and Auditing
• Previous Role: Deputy Manager (Finance & Accounts) at Asian Granito India Limited

Implications for Exxaro Tiles

These leadership changes are expected to bring a blend of continuity and fresh perspectives to Exxaro Tiles' management. The re-appointment of long-serving directors ensures stability in the company's strategic direction, while the addition of new expertise in finance and corporate governance may help drive future growth and operational efficiency.

The appointment of Mr. Miten Majmundar as an Independent Director is likely to enhance the Board's oversight capabilities, particularly in areas of corporate finance and banking relationships. Meanwhile, the induction of Mr. Jigneshkumar B. Patel as CFO brings in-depth financial expertise that could strengthen the company's financial management and reporting processes.

As Exxaro Tiles navigates the competitive landscape of the building materials industry, this restructured leadership team is positioned to guide the company through its next phase of development and market challenges.