Clean Science & Technology Limited, a prominent player in the specialty chemicals sector, has initiated a significant board restructuring and leadership transition process. The company has issued a postal ballot notice seeking shareholder approval for six key resolutions that aim to reshape its governance structure and executive leadership.

Board Restructuring

The company is seeking approval for several changes to its board composition:

1. Continuation of Ms. Madhu Dubhashi: The company proposes to continue the directorship of Ms. Madhu Dubhashi as a Non-executive Independent Director beyond her 75th birthday on February 6, 2026, until the end of her current term on February 19, 2026.

2. Re-appointment of Mr. Keval Doshi: The resolution seeks to re-appoint Mr. Keval Navinchandra Doshi as a Non-executive Independent Director for a second term of five years, from February 6, 2026, to February 5, 2031.

3. Appointment of New Independent Directors: The company proposes to appoint two new Independent Directors:

   • Mr. Raj Kamal for a five-year term from November 6, 2025, to November 5, 2030.
   • Ms. Pallavi Gokhale for a five-year term from November 6, 2025, to November 5, 2030.

Leadership Transition

Clean Science and Technology is also planning a significant leadership change:

1. Mr. Ashok Boob's New Role: The company proposes to transition Mr. Ashok Ramnarayan Boob from his current position as Managing Director to the role of Whole Time Director - Executive Vice Chairman, effective April 1, 2026, until July 27, 2027.

2. New Managing Director: Mr. Siddhartha Ashok Sikchi is proposed to be elevated from his current position as Whole Time Director to Managing Director, effective April 1, 2026, for a five-year term until March 31, 2031.

Voting Process

Shareholders can cast their votes electronically through the remote e-voting system provided by NSDL. The e-voting period is scheduled from November 17, 2025 (9:00 a.m. IST) to December 16, 2025 (5:00 p.m. IST).

These proposed changes reflect Clean Science and Technology's commitment to maintaining strong corporate governance and ensuring a smooth leadership transition. The resolutions, if approved, will shape the company's leadership structure for the coming years, potentially influencing its strategic direction and operational execution.

Shareholders are encouraged to review the detailed postal ballot notice and exercise their voting rights on these crucial resolutions that will determine the future leadership and governance of the company.

Clean Science & Technology , a leading specialty chemicals manufacturer, reported a 5% sequential decline in standalone revenue to INR 206.00 crores in Q2 FY26. The company faced headwinds from lower sales in established products and challenging market conditions, particularly in China.

Key Financial Highlights

• Standalone revenue declined 5% sequentially and 8% year-on-year to INR 206.00 crores
• EBITDA margins remained resilient at 44% despite revenue moderation
• Standalone EBITDA was INR 90.00 crores, down 10% quarter-on-quarter
• Standalone PAT stood at INR 65.00 crores, a 15% decrease quarter-on-quarter

Performance Analysis

The revenue decline was primarily driven by lower sales in established products, with the top four products contributing 80% to standalone revenue, down from 84% in the previous quarter. The company attributed the lower sales to customers experiencing sharp price declines in their end products due to competitive pressure from Chinese suppliers, leading to slower procurement.

Mr. Siddharth Sikchi, Executive Director of Clean Science & Technology, commented on the market dynamics, stating, "China is a very tricky environment. And it is sometimes very difficult to predict exactly what is happening there."

HALS Segment Shows Promise

The HALS (Hindered Amine Light Stabilizers) segment demonstrated positive momentum:

• Monthly run-rate volumes averaged 260 tons per month, representing over 25% growth compared to the previous quarter
• Material margins for the HALS portfolio improved to 35% from 31%
• The company commercialized HALS 2020 and barbituric acid during the quarter

New Product Developments

Clean Science & Technology is making progress on new product initiatives:

• Performance Chemical 1 is undergoing chemical trials with satisfactory results, and commercialization is expected this month
• The facility has an installed capacity of about 10,000 tons with potential revenue of INR 300.00 crores at current prices over a 3-year period by FY28
• The company expects a 50-50 split between domestic and international markets for this new product

Outlook

While the company faces near-term challenges, management remains focused on growth initiatives:

• Expect sequential growth in the HALS segment for Q3 and Q4
• Anticipate contributions from barbituric acid and Performance Chemical 1 starting in Q4
• Maintain a strategy to preserve market share in established products

Clean Science & Technology continues to navigate a complex global market environment, balancing challenges in established products with growth opportunities in new segments. The company's ability to maintain margins and progress on new product initiatives suggests resilience in the face of market headwinds.

Q2 FY26 Financial Performance

As Clean Science & Technology adapts to evolving market conditions, investors and industry observers will be watching closely to see how the company's strategic initiatives unfold in the coming quarters.