Vesuvius India Reports Q2 Revenue Growth Amid Profit Decline; Appoints Interim CFO

Vesuvius India Limited, a manufacturer of refractories, has reported mixed financial results for the second quarter, alongside a key management change.

Financial Performance

The company's Q2 net profit decreased to 615.00 million rupees from 685.00 million rupees in the same period last year. However, revenue showed positive growth, increasing to 5.50 billion rupees from 4.40 billion rupees year-over-year.

EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) rose to 924.00 million rupees from 789.00 million rupees. Despite this increase, the EBITDA margin declined to 16.89% from 17.76% in the previous year.

Key Financial Metrics

Metric	Q2 Current	Q2 Previous	Change
Net Profit (in million rupees)	615.00	685.00	-10.22%
Revenue (in billion rupees)	5.50	4.40	+25.00%
EBITDA (in million rupees)	924.00	789.00	+17.11%
EBITDA Margin	16.89%	17.76%	-0.87 percentage points

Management Changes

In a significant development, Vesuvius India has appointed Mr. Subhabrata Nandi as the Interim Chief Financial Officer and Key Managerial Personnel, effective November 11. Mr. Nandi, a Chartered Accountant and Cost Accountant with over 27 years of experience, has been with the company since 2004. His expertise spans business finance, leadership, strategy in finance, and controllership roles.

Prior to this appointment, Mr. Nandi held the position of 'Associate Director – Finance' at Vesuvius India. His experience includes key roles in finance system implementation and financial controllership of the Flow Control Business.

Operational Update

The company recently commenced commercial operations at its new Al-Si Monolithic Plant in Anakapalli. Consequently, Vesuvius India ceased operations at its Visakhapatnam plant and subsequently sold the land and structures for 30.51 crore rupees. The company stated that these changes are not expected to have any material adverse impact on its business operations or revenue.

Stock Split

During the nine months ended September 30, Vesuvius India implemented a stock split. Each equity share with a face value of 10 rupees was sub-divided into 10 equity shares with a face value of 1 rupee each. This change has been reflected in the company's earnings per share calculations.

The mixed financial results, coupled with the appointment of an interim CFO, signal a period of transition for Vesuvius India. While the company has shown strong revenue growth, the decline in profit and EBITDA margin may warrant attention from investors and analysts in the coming quarters.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.32%	+1.06%	-0.83%	-0.60%	-5.95%	+465.66%

Vesuvius India Limited, a prominent player in the industrial sector, has successfully concluded its postal ballot voting, resulting in the appointment of three new directors to its board. The voting, which took place from October 9 to November 7, 2025, saw strong shareholder participation and approval for all three special resolutions.

Key Appointments

The postal ballot resulted in the following appointments:

Director	Position	Term	Votes in Favor
Ms. Rashmi Joshi	Independent Director	5 years from Sept 24, 2025	99.99%
Mr. Sridhar Gorthi	Independent Director	5 years from Sept 24, 2025	84.87%
Mr. Biswadip Gupta	Non-Executive Non-Independent Director	Liable to retire by rotation	99.45%

Voting Process and Results

The voting process was conducted through remote e-voting, overseen by scrutinizer Amber Ahmad. The results demonstrate strong shareholder support for the new appointments:

Ms. Rashmi Joshi: Received near-unanimous approval with 99.99% votes in favor.
Mr. Sridhar Gorthi: Secured a solid majority with 84.87% votes in support.
Mr. Biswadip Gupta: Gained overwhelming acceptance with 99.45% votes in favor.

Shareholder Participation

The postal ballot saw active participation from shareholders across different categories:

Promoter and Promoter Group: 100% participation with all votes in favor of all resolutions.
Public Institutions: 97.46% of shares voted, with varying support across resolutions.
Public Non-Institutions: Approximately 14.98% of shares participated in the voting.

Compliance and Transparency

Vesuvius India Limited has demonstrated its commitment to corporate governance by conducting this postal ballot in accordance with the Companies Act, 2013, and SEBI regulations. The company promptly disclosed the voting results and the scrutinizer's report to the stock exchanges, ensuring transparency in the process.

Looking Ahead

With these new appointments, Vesuvius India Limited has strengthened its board composition. The high approval rates for Ms. Rashmi Joshi and Mr. Biswadip Gupta suggest strong shareholder confidence in their potential contributions. While Mr. Sridhar Gorthi's appointment also received a clear majority, the slightly lower approval rate may indicate some diversity in shareholder perspectives regarding his role.

As these directors assume their positions, stakeholders will be keen to observe how their expertise and insights contribute to Vesuvius India's strategic direction and governance in the coming years.