Harrisons Malayalam Limited (HML), a prominent player in the Indian plantation industry, has announced a significant change in its senior management. Joby Mathew, the company's Head of Finance, is set to resign from his position, marking the end of his tenure with the organization.

Resignation Details

According to a regulatory filing by Harrisons Malayalam Limited, Joby Mathew will step down from his role as Head of Finance effective from the close of business hours on August 31, 2025. The company has formally accepted his resignation, and Mathew will cease to be a Senior Managerial Personnel (SMP) of HML from that date.

Reason for Departure

In his resignation letter, Mathew cited his desire to pursue new challenges and opportunities as the primary reason for his departure. This move suggests a personal decision to explore different avenues in his professional career.

Company's Response

Harrisons Malayalam Limited has acknowledged Mathew's resignation and has complied with the necessary regulatory requirements. As per the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015, the company has duly informed the stock exchanges about this development.

Implications and Next Steps

The departure of a senior financial executive like Joby Mathew may have implications for Harrisons Malayalam's financial leadership. However, the company has not yet announced any succession plans or the appointment of a new Head of Finance.

Harrisons Malayalam Limited, with its corporate identification number L01119KL1978PLC002947, continues to operate from its headquarters at 24/1624, Bristow Road, Willingdon Island, Cochin. As a listed entity on both the Bombay Stock Exchange and the National Stock Exchange, the company is expected to keep its stakeholders informed about any further developments regarding its senior management changes.

Investors and industry observers will likely be watching closely to see how Harrisons Malayalam Limited addresses this transition in its financial leadership team.

Harrisons Malayalam , a leading producer of tea and rubber in South India, has announced significant board appointments and positive financial results for the quarter ended June 30.

Key Board Appointments

The company's board has approved the appointment of Ms. Rusha Mitra as the Chairperson of the Board, effective from August 08 till October 1. Ms. Mitra, a law graduate from W.B. National University of Juridical Sciences, Kolkata, and a partner at Khaitan & Co., has also been reappointed as an Independent Director for a second five-year term starting February 11, subject to shareholder approval at the upcoming Annual General Meeting (AGM).

Ms. Mitra brings extensive expertise in corporate restructuring, mergers, acquisitions, and a wide range of corporate law matters, including insolvency and bankruptcy.

Q1 Financial Performance

Harrisons Malayalam has reported a robust financial performance for the first quarter:

The company has shown a significant turnaround, reporting a consolidated net profit of ₹596.29 lakh for Q1, compared to a loss of ₹561.43 lakh in the same quarter of the previous year. Revenue from operations increased by 19.25% year-on-year to ₹11,645.94 lakh.

Segment-wise Performance

Harrisons Malayalam's core business segments, tea and rubber, both contributed positively to the quarterly results:

• Tea Segment: Revenue of ₹5,739.74 lakh with a segment result of ₹384.35 lakh
• Rubber Segment: Revenue of ₹5,886.28 lakh with a segment result of ₹514.87 lakh

Other Key Developments

• The company has appointed M/s. SEP & Associates, Practising Company Secretaries, as Secretarial Auditors for a period of five consecutive years, subject to shareholder approval.
• The 48th Annual General Meeting will be convened as per the directives and circulars issued by the relevant authorities, with details to be communicated separately.

Conclusion

Harrisons Malayalam, with its plantation estates in Kerala and Tamil Nadu, continues to be a significant player in the tea and rubber industries. The company's ability to turn a profit this quarter, despite challenging market conditions, demonstrates resilience and effective management strategies. Investors and stakeholders will be keenly watching how these new appointments and positive financial trends will shape the company's future growth and market position in the coming quarters.