Elegant Floriculture & Agrotech (India) Limited has strengthened its board governance by appointing two new Non-Executive Independent Directors during a board meeting held on January 08, 2026. The appointments were made following recommendations from the company's Nomination and Remuneration Committee and comply with SEBI listing regulations.

Board Appointments Details

The company appointed two new independent directors to enhance its corporate governance structure:

Regulatory Compliance

The appointments were made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Both directors have provided affirmations confirming they are not debarred from holding directorship positions by SEBI or any other regulatory authority.

Key compliance aspects include:

• Recommendation by Nomination and Remuneration Committee
• Board approval obtained during the January 08, 2026 meeting
• Compliance with SEBI listing regulations
• No regulatory debarment for either appointee

Meeting Proceedings

The board meeting was conducted at the company's registered office located at Gut No. 358, Village: Mouje Kashal, Taluka: Maval, Vadgaon, Dist.: Pune - 412106. The meeting commenced at 12:00 PM and concluded at 12:15 PM, demonstrating efficient decision-making processes.

The outcome was communicated to the Bombay Stock Exchange Limited (Scrip Code: 526473) as required under regulatory disclosure norms. Mangesh Parashram Gadakh, Whole-time Director (DIN: 09736469), signed the disclosure document on behalf of the company.

Corporate Governance Enhancement

These appointments reflect the company's commitment to strengthening its board composition with independent oversight. Both new directors bring commerce expertise from their educational backgrounds at Gujarat University, which aligns with the company's business requirements in the floriculture and agrotech sectors.

The addition of independent directors enhances the board's ability to provide objective oversight and strategic guidance, supporting the company's governance framework and stakeholder interests.

Elegant Floriculture & Ag has announced its unaudited financial results for the half-year ended September 30, 2025, showcasing significant growth in revenue and profitability.

Financial Highlights

The company reported a robust performance for the period:

All figures in crore rupees

Operational Performance

The company's revenue from operations saw an extraordinary increase, reaching ₹15,960.93 crore for the half-year ended September 2025, compared to ₹14.39 crore in the corresponding period of the previous year. This substantial growth is primarily attributed to the sales of agricultural produce, particularly rice.

Profit Growth

Elegant Floriculture Agrotech's profit before tax stood at ₹289.72 crore for the half-year period, marking a significant increase from ₹24.16 crore in the previous year. The net profit for the period rose to ₹220.66 crore, up from ₹24.16 crore in the corresponding period.

Balance Sheet Strength

The company's total assets increased to ₹19,167.62 crore as of September 30, 2025, from ₹3,293.71 crore as of March 31, 2025, indicating substantial growth in the company's asset base.

Business Model Shift

The auditors noted a significant increase in turnover, mainly due to sales of agricultural produce, particularly rice. It was observed that goods were delivered directly by suppliers to end buyers, without being held in the company's premises. The company has recognized these sales in its books and raised invoices in its own name, indicating a shift in its business model.

Management Approval and Auditor's Review

The Board of Directors approved these results at their meeting held on November 11, 2025. The financial statements have been prepared in accordance with Indian Accounting Standards (Ind AS) and other accounting principles generally accepted in India.

Valawat & Associates, Chartered Accountants, conducted a limited review of the financial results. They found no material misstatements and confirmed that the financial information has been disclosed in accordance with SEBI regulations.

Investors and stakeholders should note that these results represent a significant change in the company's business operations and scale. The dramatic increase in revenue and profitability warrants attention to the sustainability of this growth and any potential risks associated with the new business model.