Eastern treads Limited has announced a major leadership transition following a board meeting held on February 12, 2026. The company disclosed the completion of M E Mohamed's tenure as Managing Director and the appointment of Navas Meeran to the same position, marking a significant change in the organization's top management structure.

Leadership Transition Details

The leadership change became effective from the close of business hours on February 14, 2026. The transition involves two key developments:

Mr. Navas Meeran, who was already serving as Chairman of the company, will now hold the dual position of Chairman and Managing Director. His appointment is subject to approval from shareholders and represents a consolidation of leadership roles within the organization.

Profile of New Managing Director

Mr. Navas Meeran brings extensive experience to his expanded role. He hails from a respectable business family in Adimali renowned for manufacturing and exporting spices and curry powder. After graduating in Commerce, he joined the family business and has accumulated over 33 years of experience with immense practical knowledge in the tyre retreading industry.

Professional Background

Mr. Meeran's professional credentials include:

• Over 33 years of experience in the tyre retreading industry
• Past Chairman of Confederation of Indian Industry (CII), Southern Region
• Co-Chair of CII Expert Group on Doubling Farmers' Income
• Member of CII National Council
• Chairman of M E Meeran Foundation for Entrepreneurship

His entrepreneurial talent, combined with hard work and persistence, has contributed substantially to the group's growth to its present stature. Through his leadership, Eastern has gained global presence, and its growth in the international market continues to expand.

Board Acknowledgment

The Board of Directors and Management have placed on record their sincere appreciation for the invaluable contributions, guidance, and services rendered by Mr. M E Mohamed during his tenure as Managing Director. His departure marks the end of a significant chapter in the company's leadership history.

Regulatory Compliance

The announcement was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Both the outgoing and incoming directors have been confirmed as not being debarred from holding directorial positions by SEBI or any other appropriate authority.

The company has disclosed that Mrs. Shereen Navas (DIN: 00328770), who serves as a Director of the company, is the spouse of Mr. Navas Meeran, ensuring transparency in board relationships as required by regulatory guidelines.

Eastern treads Limited has announced its Q3FY26 financial results, demonstrating a significant operational turnaround with the company returning to profitability during the quarter ended December 31, 2025. The Board of Directors approved these unaudited standalone financial results on February 12, 2026.

Quarterly Financial Performance

The company reported a notable improvement in its quarterly performance, achieving profitability after previous quarters of losses. The financial metrics show stability in revenue generation with enhanced cost management.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, Eastern Treads showed substantial improvement in its financial position compared to the previous year. The company's revenue from operations increased to ₹4,895.88 lakhs from ₹4,450.21 lakhs in the corresponding nine-month period of the previous year.

Cost Structure and Operational Efficiency

The company's cost management showed improvement during Q3FY26, with total expenses of ₹1,612.10 lakhs compared to ₹1,656.91 lakhs in Q3FY25. Key expense categories included cost of materials consumed at ₹1,013.27 lakhs, employee benefits expense of ₹212.02 lakhs, and other expenses totaling ₹304.70 lakhs.

Earnings Per Share and Capital Structure

Eastern Treads reported basic and diluted earnings per share of ₹0.28 for Q3FY26, a significant improvement from the loss per share of ₹0.89 in Q3FY25. The company maintained its paid-up equity share capital at ₹523.20 lakhs with a face value of ₹10 per share.

Financial Position and Going Concern

The company disclosed that its net worth has eroded, with Other Equity showing negative ₹1,879.75 lakhs as of December 31, 2025, including accumulated losses of ₹3,168.54 lakhs. However, management has assessed the going concern assumption and expects to recover asset values and discharge liabilities based on business forecasts and fund flow projections. The results were reviewed by the Audit Committee and received a limited review from statutory auditors G. Joseph & Associates.