Baroda Rayon Corporation Reappoints Key Directors, Sets Date for 65th AGM

1 min read     Updated on 27 Aug 2025, 02:18 PM
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Radhika SahaniScanX News Team
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Overview

Baroda Rayon Corporation Limited (BRCL) has announced the reappointment of Mr. Damodarbhai Patel as Managing Director and Mr. Viral Bhavani as Whole Time Director, both for three-year terms starting in 2025. The company's 65th Annual General Meeting is scheduled for September 27, 2025, at Patidar Bhavan, Kadodara, Surat. Book closure dates are set from September 21 to 27, 2025, with the e-voting cut-off date on September 20, 2025. Mr. Manish Patel has been appointed as the scrutinizer for e-voting processes.

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Baroda Rayon Corporation Limited (BRCL) has announced significant leadership changes and upcoming corporate events, as disclosed in recent regulatory filings with the BSE.

Leadership Reappointments

The Board of Directors of BRCL has approved the reappointment of two key executives:

  1. Mr. Damodarbhai Patel has been reappointed as Managing Director for a three-year term from December 12, 2025, to December 11, 2028.
  2. Mr. Viral Bhavani has been reappointed as Whole Time Director for a three-year term from October 1, 2025, to September 30, 2028.

Both reappointments are subject to shareholder approval at the upcoming Annual General Meeting (AGM).

Directors' Profiles

Mr. Damodarbhai Patel

  • Commerce graduate with an LLB
  • On BRCL's board since 2008
  • Over 40 years of business experience
  • Expertise in wood, real estate, and textile industries since 1982

Mr. Viral Bhavani

  • Commerce graduate with an MBA
  • Joined BRCL's board in 2020
  • Over 15 years of experience in real estate and textile business
  • Strong skills in corporate governance, financial management, and strategic planning
  • Son of Mr. Damodarbhai Patel

65th Annual General Meeting

BRCL has announced details for its upcoming 65th AGM:

  • Date: Saturday, September 27, 2025
  • Time: 9:00 a.m.
  • Venue: Patidar Bhavan, Kadodara, Surat- 394327, Gujarat

Important Dates

Event Date
Book Closure September 21, 2025, to September 27, 2025 (both days inclusive)
E-voting Cut-off Date Saturday, September 20, 2025

The company has appointed Mr. Manish Patel, a Practicing Company Secretary from Surat, as the scrutinizer for both remote e-voting and e-voting during the AGM.

These developments showcase Baroda Rayon's commitment to maintaining stable leadership while adhering to corporate governance norms. Shareholders will have the opportunity to vote on these reappointments and other matters at the upcoming AGM.

Historical Stock Returns for Baroda Rayon

1 Day5 Days1 Month6 Months1 Year5 Years
-0.54%+2.99%-6.59%+1.61%-16.84%+3,093.97%
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Baroda Rayon Corporation's Q1 Profit Soars 12.7% YoY, Revenue Doubles

1 min read     Updated on 13 Aug 2025, 02:25 PM
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Jubin VergheseScanX News Team
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Overview

Baroda Rayon Corporation Limited (BRCL) reported robust Q1 financial results. Net profit increased by 12.7% to ₹710.23 lakhs, while revenue from operations more than doubled to ₹2,236.00 lakhs. The company's EPS rose to ₹3.10. The Real Estate segment was the primary revenue driver, generating ₹2,244.03 lakhs. The Textiles segment remains suspended since 2008. BRCL continues to have no tax liability due to unabsorbed depreciation and brought forward business losses.

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Baroda Rayon Corporation Limited (BRCL) has reported a robust financial performance for the first quarter, with significant growth in both revenue and profitability.

Financial Highlights

  • Net Profit: ₹710.23 lakhs, up 12.7% from ₹630.44 lakhs in the same quarter of the previous year
  • Revenue from Operations: ₹2,236.00 lakhs, more than doubled from ₹1,049.00 lakhs year-over-year
  • Total Revenue: ₹2,255.82 lakhs, compared to ₹1,184.19 lakhs in the previous year's quarter
  • Earnings Per Share (EPS): ₹3.10, increased from ₹2.75 in the corresponding quarter last year

Segment Performance

BRCL operates in two segments:

  1. Real Estate: This segment, comprising the sale of plots and industrial units, generated revenue of ₹2,244.03 lakhs.
  2. Textiles: Operational activities in this segment have been suspended since August 2008.

Key Financial Metrics

Particulars Q1 (₹ in lakhs) Q1 Previous Year (₹ in lakhs) YoY Change
Revenue from Operations 2,236.00 1,049.00 +113.2%
Total Revenue 2,255.82 1,184.19 +90.5%
Net Profit 710.23 630.44 +12.7%
Basic Earnings Per Share (₹) 3.10 2.75 +12.7%

Additional Information

  • The company's board meeting was held on August 13 to approve the unaudited financial results.
  • BRCL continues to have no tax liability due to unabsorbed depreciation and brought forward business losses.
  • The Real Estate segment remains the primary revenue driver for the company.

Management Commentary

Damodarbhai Patel, Chairman & Managing Director of BRCL, stated, "Our first quarter results demonstrate strong growth in our real estate segment. We are pleased with the substantial increase in revenue and the improvement in profitability. While our textile segment remains suspended, we continue to explore new avenues to potentially restart operations in this area."

Auditor's Review

Kansariwala & Chevli, the company's statutory auditors, conducted a limited review of the financial results. They reported that nothing has come to their attention that causes them to believe that the financial results do not present a true and fair view in accordance with applicable accounting standards and SEBI regulations.

BRCL's impressive Q1 performance, particularly in its real estate segment, signals a positive start to the fiscal year. Investors and stakeholders will be keenly watching the company's future quarters to see if this growth trajectory can be maintained.

Historical Stock Returns for Baroda Rayon

1 Day5 Days1 Month6 Months1 Year5 Years
-0.54%+2.99%-6.59%+1.61%-16.84%+3,093.97%
Baroda Rayon
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