Raghuvir Synthetics Limited announced its unaudited financial results for the third quarter of FY26 ended December 31, 2025, revealing a challenging quarter with significant losses despite maintaining nine-month profitability. The company also announced important board restructuring with the appointment of new independent directors.

Financial Performance Overview

The company's Q3FY26 performance showed a marked deterioration compared to the previous year, with key metrics reflecting operational challenges:

The company reported a net loss of Rs 434.78 lakhs in Q3FY26 compared to a net profit of Rs 24.06 lakhs in the corresponding quarter of the previous year. Revenue from operations declined significantly by 41.5% to Rs 4,894.64 lakhs from Rs 8,369.77 lakhs year-on-year.

Nine-Month Performance Analysis

Despite the challenging third quarter, the company's nine-month performance for the period ended December 31, 2025, remained profitable:

For the nine-month period, the company maintained profitability with a net profit of Rs 230.68 lakhs, though this represented a 53.4% decline from Rs 494.69 lakhs in the corresponding period of the previous year.

Board Restructuring and Leadership Changes

The company announced significant changes to its board composition during the meeting held on February 6, 2026:

New Appointments:

• Mr. Aayush Kamleshbhai Shah (DIN: 10149440) appointed as Additional Director designated as Non-Executive Independent Director for a five-year term effective February 6, 2026
• Mrs. Ankita Vivekkumar Shah (DIN: 10559374) appointed as Additional Director designated as Non-Executive Independent Director for a five-year term effective February 6, 2026

Tenure Completion:

• Mr. Anup Ramnivas Agarwal (DIN: 01790620) completed his tenure as Independent Director effective end of business hours on February 8, 2026

Both new appointees hold degrees in commerce, company secretaryship, and law, with eight years of experience in corporate laws, securities laws, capital markets, and regulatory compliance.

Regulatory Matters and Compliance

The company disclosed that during the first quarter, the Directorate General of GST Intelligence (DGGI), Ahmedabad Zonal Unit, initiated search operations under Section 67 of the Central Goods and Services Tax Act, 2017, at the company's registered office and factory at Rakhial, Ahmedabad. Following oral instructions from officials, the company deposited Rs 188.00 lakhs under protest. Management expects no material adverse impact on the company's financial or operational position from these proceedings.

Additionally, the company recognized provisions for defined benefit obligations following the implementation of New Labour Codes that became effective November 21, 2025, consolidating 29 existing labour laws.

Committee Reconstitution

Effective February 7, 2026, the company reconstituted its key committees due to the appointment of new independent directors:

• Audit Committee: Mrs. Ankita Vivekkumar Shah (Chairman), Mr. Aayush Kamleshbhai Shah (Member), Mr. Alpesh Dinesh Kumar Shah (Member)
• Nomination & Remuneration Committee: Same composition as Audit Committee
• Stakeholders Relationship Committee: Same composition as Audit Committee

The financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on February 6, 2026. The company's paid-up equity share capital remains at Rs 387.50 lakhs with a face value of Re 1 per share.