Key Highlights

• Ankit Kumar Jain resigns as Company Secretary and Compliance Officer
• Resignation effective from April 30, 2023
• Company to initiate process for appointing a new Company Secretary

Details of the Announcement

Black Rose Industries Limited has announced the resignation of its Company Secretary and Compliance Officer, Ankit Kumar Jain. The resignation will take effect from April 30, 2023.

Impact on the Company

The resignation of a Company Secretary and Compliance Officer is a significant corporate action that can have implications for a company's regulatory compliance and corporate governance. Here are some potential impacts:

1. Temporary Compliance Gap: There may be a temporary gap in compliance-related activities until a new Company Secretary is appointed.

2. Regulatory Filings: The company will need to ensure that all necessary regulatory filings are completed on time during the transition period.

3. Corporate Governance: The Company Secretary plays a crucial role in maintaining good corporate governance practices. The company will need to ensure continuity in this area.

Next Steps for Black Rose Industries

The company has stated that it will initiate the process of appointing a new Company Secretary. This process typically involves:

1. Advertising the position
2. Reviewing applications
3. Conducting interviews
4. Selecting a suitable candidate
5. Obtaining board approval for the appointment
6. Making necessary regulatory disclosures about the new appointment

Investor Considerations

While the resignation of a Company Secretary is a routine corporate action, investors may consider monitoring the following:

1. Timely Appointment: The speed at which the company appoints a new Company Secretary
2. Regulatory Compliance: Any potential delays or issues in regulatory filings during the transition period
3. Reason for Resignation: Any disclosed reasons for the resignation, which could provide insights into the company's internal dynamics

Conclusion

The resignation of Ankit Kumar Jain as Company Secretary and Compliance Officer of Black Rose Industries Limited is a standard corporate action. While it may cause some short-term administrative adjustments, the company is expected to manage the transition. Investors may want to keep an eye on the appointment of a new Company Secretary and any potential impact on the company's regulatory compliance during this period.

Black Rose Industries Limited (BRIL) has reported a significant increase in revenue for the second quarter of fiscal year 2026, with both its manufacturing and distribution segments showing robust performance. The company's strategic initiatives and improved market conditions have contributed to this growth.

Financial Highlights

BRIL's Q2 FY26 financial performance showcases substantial growth compared to the previous quarter:

Segment-wise Performance

Manufacturing Division

The manufacturing segment demonstrated strong growth, with sales rising by 19% compared to the previous quarter. Key highlights include:

• Acrylamide liquid recorded significant growth, driven by strong domestic demand.
• Acrylamide solid maintained steady volumes.
• N-methylol acrylamide faced softer demand due to seasonal factors but maintained consistent momentum from key downstream sectors.

Distribution Division

The distribution business showed remarkable improvement:

• Turnover surged by 60% over the previous quarter.
• Growth was driven by robust supply support from key principals and higher volumes of core products such as ethanolamines, meta-cresol, and purified isophthalic acid.
• Merchant export volumes increased, supported by strategic alignment of offerings with customer requirements.

Key Financial Indicators

Outlook

The company expects improved performance in the upcoming quarter for both divisions:

• Manufacturing Division: Anticipated growth in acrylamide liquid exports, recovery in N-methylol acrylamide demand, and stable acrylamide solids performance.
• Distribution Division: Steady performance expected despite certain supply constraints, with plans to mitigate through new product additions and expanded market reach.

Projects and Expansions

BRIL continues to focus on innovation and long-term growth:

• The polyacrylamide solid R&D program is advancing towards the piloting phase.
• A feasibility study for the specialty amines project in collaboration with Koei Chemicals is progressing well.
• Environmental clearance for the specialty amines project is anticipated soon.
• Other new product development opportunities and toll-manufacturing projects are under active evaluation.

Black Rose Industries' strong performance in Q2 FY26 reflects its ability to capitalize on improved market conditions and strategic initiatives. The company's focus on both its manufacturing and distribution segments, coupled with ongoing R&D efforts, positions it well for continued growth in the Indian chemical industry.