Vesuvius India Limited , a leading manufacturer of refractories, has announced its unaudited financial results for the third quarter ended September 30, 2025, along with significant corporate developments.

Q3 Financial Performance

The company reported a total income from operations of ₹140,101.00 lakh for the quarter ended September 30, 2025. This includes gross sales of ₹135,993.00 lakh and other operating revenue of ₹4,108.00 lakh. The net profit for the period stood at ₹6,300.00 lakh.

Appointment of Interim CFO

The Board of Directors has approved the appointment of Mr. Subhabrata Nandi as the Chief Financial Officer of the company in an interim capacity, effective November 11, 2025. Mr. Nandi, a Chartered Accountant and Cost Accountant, brings over 27 years of experience to the role. He has been with Vesuvius India since November 2004, most recently serving as Associate Director-Finance.

Mr. Nandi's expertise spans various areas of finance, including business finance, leadership, strategy, and controllership. His appointment is expected to contribute to the company's financial management and strategic planning.

Sale of Visakhapatnam Plant

Vesuvius India has announced the closure and sale of its plant located at Plot Nos. 13-15, Block E, IDA, Visakhapatnam. The plant ceased operations on October 13, 2025, following the commencement of commercial operations at the company's new Al-Si Monolithic Plant in Anakapalli.

The company subsequently sold the land and structures of the Visakhapatnam plant on October 24, 2025, for a total consideration of ₹30.51 crore. Vesuvius India has stated that this closure and sale are not expected to have any material adverse impact on its business operations or revenue.

Other Corporate Actions

During the nine months ended September 30, 2025, Vesuvius India implemented a stock split. Effective from the record date of June 10, 2025, each equity share with a face value of ₹10 was sub-divided into 10 equity shares with a face value of ₹1 each. The company has restated its Earnings Per Share (EPS) for prior periods based on this revised face value, in accordance with Ind AS 33.

The unaudited financial results have been reviewed by the Audit Committee and approved by the Board of Directors. Price Waterhouse Chartered Accountants LLP, the statutory auditors, have issued an unmodified opinion on these financial results.

Vesuvius India continues to focus on its core business of manufacturing, trading, and sale of refractories, with its performance being assessed as a single operating segment by the company's management.

As the company navigates these changes, including the appointment of a new interim CFO and the consolidation of its manufacturing operations, stakeholders will be watching closely to see how these developments impact Vesuvius India's future performance and strategic direction in the refractories market.

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

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.