Indo Rama Synthetics (India) Limited announced its unaudited financial results for the third quarter and nine months ended December 31, 2025, alongside significant board restructuring decisions at its meeting held on January 31, 2026.

Financial Performance Q3FY26

The company reported mixed performance in Q3FY26 compared to the previous year. On a consolidated basis, total income for Q3FY26 stood at ₹1,191.17 crore, representing a 2.00% increase from ₹1,168.10 crore in Q3FY25.

Nine Months Performance FY26

For the nine months ended December 31, 2025, the company demonstrated strong year-over-year growth. Consolidated total income increased significantly to ₹3,722.08 crore from ₹3,066.73 crore in the corresponding period of FY25, marking a 21.37% growth.

Board Changes and Appointments

The Board of Directors approved several key personnel changes effective January 31, 2026. The company accepted resignations from Mr. Dilip Kumar Agarwal (DIN 03487162) as Non-Executive Non-Independent Director and Mr. Sanjay Thapliyal (DIN 08294006) as Whole-time Director, both citing personal reasons.

Simultaneously, the Board appointed two new directors:

• Mr. Vipin Kumar (DIN 07355025) as Additional Director in the category of Non-Executive Non-Independent Director
• Mr. Sanjay Gupta (DIN 11471106) as Additional Director in the category of Executive Director

Mr. Sanjay Gupta brings 42+ years of experience in the polyester industry and holds a B.Tech in Textile Technology from IIT Delhi. Mr. Vipin Kumar has 33+ years of experience in polyester fiber and filament business operations.

Committee Restructuring

Following the board composition changes, Indo Rama Synthetics restructured all its statutory committees. The Audit Committee now comprises six members with Mr. Dhanendra Kumar as Chairman. The Nomination and Remuneration Committee, Stakeholders and Relationship Committee, CSR Committee, and Risk Management Committee were all reconstituted with new member compositions.

Operational Highlights

The company noted that EBITDA performance was impacted by volatile market conditions following the withdrawal of Quality Control Order (QCO) on the company's fiber products and raw materials in November 2025. Despite short-term margin pressures, the company maintained its integrated manufacturing operations at Butibori, Nagpur, with production capacity of 6,72,000 tons per annum across polyester staple fiber, filament yarn, and related products.

The financial results include an exceptional item of ₹2.70 crore related to employee benefit expenses arising from new labor codes implementation. The Board meeting commenced at 12:40 PM IST and concluded at 6:10 PM IST on January 31, 2026.

Indo rama synthetics (India) Limited has received a positive credit rating development, with India Ratings and Research Private Limited revising the company's credit outlook to stable from negative. The rating agency has affirmed the existing ratings while providing a more optimistic assessment of the company's financial prospects.

Credit Rating Details

India Ratings and Research has maintained the IND A-/Stable/IND A2+ rating on the company's bank loan facilities while revising the outlook. The rating action covers a total facility size of INR 17,200 million across different categories.

Facility Breakdown

The company's bank facilities are distributed across multiple international and domestic banking partners. The fund and non-fund based working capital limits are spread across six major banks.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The rating communication dated January 27, 2026, was promptly shared with both the National Stock Exchange of India Limited and BSE Limited through their respective electronic platforms.

Company Information

Indo Rama Synthetics (India) Limited operates with its corporate office located in Gurugram, Haryana, and its registered office and manufacturing complex situated in Nagpur, Maharashtra. The company secretary Ashok Yadav signed the regulatory filing, ensuring compliance with stock exchange requirements.