Astec Lifesciences Limited has announced a key senior management appointment, strengthening its operational leadership team with the addition of an experienced industry professional.

Key Appointment Details

The company has appointed Mr. Milind Bhangaonkar as General Manager-Operations (Site Head) and Senior Management Personnel, effective December 15, 2025. The appointment was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Professional Background

Mr. Bhangaonkar brings extensive experience to his new role, with 29.40 years of proven success in the chemical industry. His expertise spans multiple critical areas including steering multi-site plant operations, driving business transformation, and facilitating organizational growth.

His professional capabilities include:

• Proven ability to scale operations and deliver profit and loss impact
• Strategic expansion expertise across Agrochemical, API-Pharma, and Specialty Chemical domains
• Technical excellence aligned with commercial outcomes
• Focus on safety, compliance, and profitability
• Recognition for building high-performance teams and driving innovation

Industry Experience

The newly appointed General Manager has worked with several prominent companies in the chemical sector before joining Astec Lifesciences. His previous associations include Thermax Chemicals Limited, Indo Amines Limited, Atul, Nicholas Piramal, and Gharda Chemicals.

Strategic Leadership Expertise

Mr. Bhangaonkar's experience extends to partnering with boards and promoters to shape long-term vision. His expertise includes:

• Post-merger integration management
• Contract manufacturing partnerships
• Operational outsourcing to optimize cost and efficiency
• Strategic planning and execution

Regulatory Compliance

The appointment follows all required regulatory procedures under SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. The company has disclosed all necessary particulars and details as required by the listing regulations. The information regarding this appointment is also available on the company's website at www.godrejastec.com .

Astec Lifesciences , a key player in the agrochemicals sector, has reported a mixed financial performance for the second quarter. The company managed to reduce its net loss despite facing a decline in revenue, indicating potential improvements in cost management and operational efficiency.

Financial Highlights

Revenue Decline

Astec Lifesciences witnessed a significant year-on-year decline in revenue for the quarter. The company's revenue dropped to 737.20 million rupees, down from 985.40 million rupees in the same quarter of the previous fiscal year, marking a 25.19% decrease.

Improved Bottom Line

Despite the revenue contraction, Astec Lifesciences managed to narrow its net loss. The company reported a consolidated net loss of 244.20 million rupees, compared to a loss of 385.50 million rupees in the corresponding quarter of the previous year. This represents a substantial improvement of 36.65% in the bottom line.

Operational Performance

The reduction in net loss, even in the face of lower revenue, suggests that Astec Lifesciences may have implemented effective cost-cutting measures or improved its operational efficiency. However, the company has not provided specific details on the factors contributing to this improved performance in the face of revenue challenges.

Market Implications

While the narrowed losses are a positive sign, the significant drop in revenue may raise concerns among investors about the company's market position and demand for its products in the agrochemical sector. Stakeholders may look for further clarification from the management on strategies to revive top-line growth in the coming quarters.

Future Outlook

As Astec Lifesciences navigates through these challenging times, the focus will likely be on sustaining the momentum in reducing losses while simultaneously working towards revenue growth. The agrochemical market dynamics and the company's ability to adapt to changing industry trends will be crucial factors to watch in the upcoming quarters.

Investors and analysts will be keen to see if Astec Lifesciences can build on this improved bottom-line performance and translate it into sustained profitability and revenue growth in the future.