IVP Limited Announces Key Board Changes and Q1 FY2026 Results
IVP Limited, a chemicals manufacturer, has made significant changes to its board composition and released its Q1 FY2026 financial results. Rajkumar Lekhwani has been appointed as Non-Executive Director and new Chairman, replacing T. K. Gowrishankar. Mandar P. Joshi has been re-appointed as Whole-Time Director & CEO. The company reported revenue of ₹13,819.00 lakhs and profit of ₹119.00 lakhs for Q1 FY2026, showing a decrease compared to previous periods. Shareholders also approved the appointment of a new Secretarial Auditor for a five-year term.
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IVP Limited , a prominent player in the chemicals manufacturing sector, has announced significant changes to its board composition along with its financial results for the first quarter of the fiscal year 2026.
Board Restructuring
At the 96th Annual General Meeting (AGM) held on July 31, 2025, IVP Limited shareholders approved two crucial board appointments:
Rajkumar Lekhwani was appointed as a Non-Executive Director, effective June 6, 2025. Lekhwani, a 49-year-old Chartered Accountant, brings over 24 years of experience in finance and business leadership across various sectors, including FMCG, pharmaceuticals, and capital goods. His impressive career includes a 14-year tenure at Procter & Gamble and senior roles at ACG and Crompton Greaves.
Mandar P. Joshi was re-appointed as Whole-Time Director & Chief Executive Officer for a three-year term, effective August 1, 2025. Joshi, who initially joined as CEO in 2015 and became Whole-Time Director & CEO in 2016, holds a B.Tech from IIT Mumbai and boasts 29 years of experience in the chemical industry, including previous roles at Gharda Chemicals and BASF Group.
In a subsequent development, the company announced that T. K. Gowrishankar will step down from his position as Director and Chairman of the Board, effective August 1, 2025. The Board of Directors expressed their highest appreciation for Gowrishankar's guidance, support, and leadership during his tenure.
Following this change, Rajkumar Lekhwani has been appointed as the new Chairman of the Board, effective August 1, 2025.
Q1 FY2026 Financial Results
IVP Limited also released its unaudited financial results for the quarter ended June 30, 2025:
| Particulars (₹ in Lakhs) | Q1 FY2026 | Q4 FY2025 | Q1 FY2025 |
|---|---|---|---|
| Revenue from Operations | 13819.00 | 14936.00 | 13826.00 |
| Total Income | 13925.00 | 15030.00 | 13907.00 |
| Total Expenses | 13755.00 | 14515.00 | 13465.00 |
| Profit Before Tax | 170.00 | 515.00 | 442.00 |
| Profit for the Period | 119.00 | 383.00 | 343.00 |
| EPS (Basic and Diluted) | 1.15 | 3.71 | 3.32 |
The company's revenue from operations for Q1 FY2026 stood at ₹13,819.00 lakhs, slightly lower than the previous quarter but in line with the same quarter last year. The profit for the period was ₹119.00 lakhs, showing a decrease compared to both the previous quarter and the same quarter last year.
Other Developments
The shareholders also approved the appointment of Mr. A. A. Mulla, Proprietor of M/s. A. A. Mulla & Associates, as the Secretarial Auditor of the Company for a term of five consecutive years.
IVP Limited continues to focus on its core business of manufacturing chemicals, which remains its only reportable operating segment as per Ind AS 108.
The company's management and newly restructured board are expected to guide IVP Limited through the evolving market conditions and capitalize on growth opportunities in the chemical manufacturing sector.
Historical Stock Returns for IVP
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.29% | -2.37% | -3.82% | +4.60% | -22.11% | +288.65% |
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