Donear Industries Limited , a prominent player in the textile industry, has announced the appointment of two new non-executive Independent Directors to its Board, signaling a move to enhance its corporate governance and strategic oversight.

Board Appointments

The company has appointed Mrs. Harjeet Kaur Joshi and Mr. Hemant Raghunath Bharambe as additional non-executive Independent Directors. These appointments, approved by the Board based on recommendations from the Nomination and Remuneration Committee, are subject to shareholder approval within three months.

Terms of Appointment

Both directors have been appointed for a five-year term, bringing diverse expertise to Donear Industries' leadership.

Director Profiles

Mrs. Harjeet Kaur Joshi

• Fellow Cost and Management Accountant
• Master's degree in Commerce from Delhi University
• MBA in Financial Management and Human Resource Management
• Over 39 years of experience in finance
• Former Managing Director and Chairperson of The Shipping Corporation of India Ltd
• Recent Advisory Board Member of Indian Audit and Accounts Department

Mr. Hemant Raghunath Bharambe

• Textile Engineer from VJTI, Mumbai
• Bachelor of Legal Studies, Mumbai University
• 43 years of experience in the Textile and Garment industry
• Expertise in weaving, knit production, sales, procurement, and quality assurance

Independence and Compliance

The company has confirmed that both Mrs. Joshi and Mr. Bharambe have no relationships with existing board members. Additionally, they are not debarred from holding directorial positions by any SEBI Order or other authority, ensuring compliance with regulatory requirements.

These strategic appointments aim to bring fresh perspectives and industry-specific expertise to Donear Industries' board, potentially contributing to the company's future growth and governance strategies in the competitive textile sector.

Donear Industries , a prominent player in the textile industry, has released its financial results for the first quarter, showcasing a mixed performance with improved profitability despite a slight decline in revenue.

Financial Highlights

• Revenue: The company reported a revenue of ₹1.96 billion, down from ₹1.99 billion in the same period last year, marking a slight decrease of 1.5%.
• EBITDA: Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) improved to ₹212 million, up from ₹206 million in the corresponding quarter of the previous year, representing a 2.9% increase.
• EBITDA Margin: The EBITDA margin saw a notable improvement, rising to 10.79% from 10.37% year-over-year, indicating enhanced operational efficiency.
• Net Profit: Net profit remained stable at ₹88 million, matching the figure from the same quarter last year.

Operational Performance

While specific management commentary is not available, the improved EBITDA and EBITDA margin suggest that Donear Industries has successfully implemented cost optimization measures and operational improvements, despite facing challenges in revenue growth.

Corporate Governance Updates

In addition to the financial results, Donear Industries announced several key corporate governance changes:

1. Company Secretary Resignation: Mrs. Sejal Shah has resigned from her position as Company Secretary and Compliance Officer, effective August 14, 2025.

2. New Statutory Auditors: The Board has approved the appointment of M/s M. L. Bhuwania & Co. LLP as the new Statutory Auditors for a term of five years, subject to shareholder approval at the upcoming Annual General Meeting (AGM).

3. Secretarial Auditors Appointment: M/s Yogesh Sharma & Co has been appointed as the Secretarial Auditors for five consecutive years, starting from FY 2025-26, pending shareholder approval.

4. Annual General Meeting: The 39th AGM is scheduled for September 27, 2025, to be held via video conferencing.

5. Dividend Record Date: The company has set September 20, 2025, as the record date for determining shareholder eligibility for a dividend of ₹0.20 per equity share (10% on face value of ₹2 per share) for the financial year 2024-25.

Conclusion

Donear Industries' Q1 results reflect the company's ability to enhance profitability and operational efficiency in a challenging market environment. While revenue saw a marginal decline, the improved EBITDA margin highlights the effectiveness of the company's cost management strategies. The announced corporate actions demonstrate Donear Industries' commitment to maintaining strong governance practices and shareholder value creation.