Bombay Dyeing , a prominent name in the Indian textile industry, has announced a significant addition to its leadership team. The company's Board of Directors has approved the appointment of Ms. Rukhshana Jina Mistry as an Additional Non-Executive Independent Woman Director for a five-year term, subject to shareholder approval.

Key Details of the Appointment

• Term: August 26, 2025 to August 25, 2030
• Position: Additional Non-Executive Independent Woman Director
• Approval Process: Recommended by the Nomination and Remuneration Committee and approved by the Board of Directors
• Shareholder Approval: To be sought through postal ballot

Ms. Rukhshana Jina Mistry's Profile

Ms. Mistry brings a wealth of experience to her new role at Bombay Dyeing:

• Professional Qualification: Chartered Accountant
• Experience: Over 32 years in accounting, auditing, taxation, and company law
• Education: B.Com degree from University of Mumbai
• Professional Membership: Fellow Member of the Institute of Chartered Accountants of India (FCA)

Current Board Positions

Ms. Mistry's appointment adds to her impressive portfolio of directorships. She currently serves as an Independent Director on the boards of several notable companies:

• Sterling And Wilson Renewable Energy Ltd
• Allied Blenders & Distillers Ltd
• Afcons Infrastructure Ltd
• The Bombay Burmah Trading Corporation Limited

Additionally, she holds directorships in various foreign subsidiaries of the Sterling And Wilson group.

Committee Involvement

Ms. Mistry is actively engaged in board-level committees, serving as Chairperson and Member across various committees in listed entities, including:

• Audit Committee
• Nomination and Remuneration Committee
• Stakeholder Relationship Committee
• Risk Management Committee

Regulatory Compliance

In accordance with regulatory requirements, Bombay Dyeing has confirmed that Ms. Mistry is not debarred from holding the office of Director by virtue of any order passed by SEBI or any other such authority. This appointment aligns with the company's commitment to maintaining a diverse and experienced board.

The appointment of Ms. Rukhshana Jina Mistry is expected to bring valuable insights and expertise to Bombay Dyeing's board, potentially contributing to the company's strategic direction and governance practices in the coming years.

Bombay Dyeing and Manufacturing Company Limited , a prominent player in the Indian textile and real estate sectors, has announced its financial results for the first quarter, revealing a decline in revenue and an EBITDA loss.

Financial Performance

The company reported Q1 revenue of ₹380.00 crore, down from ₹450.00 crore in the same period last year, marking a significant decrease of approximately 15.56%. Additionally, Bombay Dyeing posted an EBITDA loss of ₹14.00 crore, a stark contrast to the gain of ₹11.90 crore in the previous year's corresponding quarter.

Key financial highlights for Q1:

Segment Performance

While specific segment performance details were not provided in the latest update, the overall decline in revenue suggests challenges across the company's business segments, which typically include Polyester, Real Estate, and Retail/Textile.

Management Changes

In a significant development, the Board of Directors has appointed Mr. Jehangir Nusli Wadia as the Vice-Chairman of the company, effective immediately. Mr. Wadia, who was previously serving as a Non-Executive Non-Independent Director, will now take on this new role to guide the company's strategic direction.

Regulatory Matters

The company continues to face regulatory challenges. As noted in previous statements, Bombay Dyeing is currently dealing with an order from the Securities and Exchange Board of India (SEBI) dated October 21, 2022. This order imposes penalties and restrictions on the company and some of its directors. However, the company has appealed against this order before the Securities Appellate Tribunal (SAT), which has stayed the effect and operation of the SEBI order. The matter is currently pending before SAT.

Outlook

The latest financial results indicate significant challenges for Bombay Dyeing, with both revenue decline and EBITDA loss. The appointment of Mr. Jehangir Nusli Wadia as Vice-Chairman may bring new strategic initiatives to address these challenges and drive growth.

As the company navigates through regulatory issues and market dynamics, investors and stakeholders will be closely watching how Bombay Dyeing adapts its strategies to improve performance across all business segments in the coming quarters.