Indo Count Industries Limited has announced a senior management change with the resignation of Mr. Abhay Karhade, Vice President-Information Technology, effective December 12, 2025. The textile company informed stock exchanges about this development under Regulation 30 of SEBI LODR Regulations.

Resignation Details

The company disclosed the following information regarding Mr. Karhade's departure:

Regulatory Compliance

IndoCount Industries filed the resignation notice with both National Stock Exchange of India Limited and BSE Limited on December 12, 2025. The disclosure was made pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company provided comprehensive details as required under Regulation 30 and SEBI Circular No. SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated July 13, 2023. All necessary annexures and documentation were submitted to the exchanges for record.

Transition Arrangements

In his resignation communication, Mr. Karhade expressed appreciation for discussions with the management regarding his departure. He indicated his willingness to remain available for assistance and wished the organization success, particularly mentioning the team's efforts toward Unnati initiatives.

The resignation letter was addressed to senior management and confirmed his request for settlement of dues at the earliest. Mr. Karhade, who served as Head IT, provided his contact details for any future assistance required by the company.

Company Information

IndoCount Industries Limited operates in the textile sector with its corporate office located in Mumbai and registered office in Kolhapur, Maharashtra. The company maintains listings on both NSE (symbol: ICIL) and BSE (scrip code: 521016) and continues its business operations following this management change.

Indo Count Industries , a leading textile manufacturer, has reported a resilient performance in Q2 FY26, demonstrating growth despite facing significant headwinds from US tariffs. The company's strategic moves in brand expansion and market diversification are showing promising results.

Q2 FY26 Financial Highlights

Indo Count Industries posted a robust quarter-on-quarter growth:

The company's volume growth of 7% quarter-on-quarter to 25.20 million meters is particularly noteworthy, given the challenging tariff environment.

Navigating Tariff Challenges

Indo Count is facing headwinds from a 50% tariff imposed on Indian imports to the US in late August 2025, including an additional 25% Russian oil penalty. The company has strategically partnered with customers on a case-to-case basis to protect long-term relationships and maintain market share, which has temporarily affected margins.

Mohit Jain, Executive Vice-Chairman, stated, "We expect margin pressure to continue until the end of this year. As markets stabilize, hopefully in the next 6 to 9 months, then margins will go back to 15% to 16% levels on our core business."

Brand Expansion and Diversification

In a significant move, Indo Count has signed a licensing agreement with Tommy Hilfiger for utility bedding products. This marks the company's sixth licensed brand, with four added in the last two years, underscoring Indo Count's strong brand equity and manufacturing capabilities.

The company's utility bedding and US branded segments are gaining traction, now contributing 17% of revenues in Q2 FY26, up from 13% in the previous quarter. This represents a quarter-on-quarter increase of approximately 40% and is now at an annual run rate of about $85 million.

Outlook and Strategy

Indo Count remains optimistic about its growth trajectory:

1. The company reiterates its guidance of achieving approximately $275 million in revenues from the utility bedding segment and US brand business over the next three years.
2. The domestic market is showing promising growth, particularly in value-added offerings.
3. Indo Count is expanding its retail footprint, adding 700 new counters for its Boutique Living and Layers brands during Q2.

Jain added, "Indo Count has entered its next phase of growth, which we refer to as Indo Count 2.0. Our investments in utility bedding and premium brands are strengthening our portfolio and expanding our market presence."

While short-term challenges persist, Indo Count's strategic initiatives in brand expansion, market diversification, and operational efficiency position it well for long-term growth in the evolving textile industry landscape.

Conclusion

Indo Count Industries' Q2 FY26 results demonstrate the company's resilience and adaptability in the face of significant external challenges. The company's focus on brand expansion, market diversification, and strategic customer partnerships appears to be paying off, setting the stage for potential growth as market conditions stabilize.