Lovable lingerie Limited has announced the resignation of Mr. Vindamuri Giri Raj from his position as Executive Director, effective February 28, 2026. The company informed stock exchanges about this significant board change through formal regulatory filings in compliance with SEBI requirements.

Resignation Details

The resignation was formally communicated to both the National Stock Exchange of India and BSE Limited on February 28, 2026, in accordance with Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Regulatory Compliance and Documentation

The company has fulfilled all disclosure requirements under SEBI regulations, providing comprehensive details as mandated by SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The resignation letter and supporting documentation were submitted as required annexures to the stock exchanges.

The regulatory filing included detailed information about the cessation, confirming that Mr. Vindamuri Giri Raj resigned due to personal reasons with effect from close of business hours on February 28, 2026.

Resignation Letter and Confirmation

In his formal resignation letter dated February 28, 2026, Mr. Vindamuri Giri Raj stated that his decision was made after careful consideration of personal commitments that now require his dedicated time and attention. He confirmed that there are no other material reasons for his resignation beyond those mentioned in his formal resignation letter.

The departing Executive Director expressed appreciation for the opportunity to serve on the board and contribute to the company's growth during his tenure. He acknowledged the privilege of working alongside dedicated colleagues and stakeholders throughout his service period and committed to extending full cooperation to ensure a smooth transition and proper handover of responsibilities.

Company Response and Management

The resignation was accepted by the board, with Managing Director L Vinay Reddy (DIN: 00202619) signing the regulatory filing through digital signature on February 28, 2026. The company has indicated that all necessary statutory and regulatory formalities will be completed in connection with this board change.

Lovable Lingerie Limited, with its registered office at A-46, Road No.2, Opp. IDBI Bank, M.I.D.C., Andheri (East), Mumbai - 400093, continues its operations in the lingerie manufacturing sector under CIN No: L17110MH1987PLC044835.

Lovable Lingerie Limited, a prominent player in the Indian lingerie market, has reported a net loss of Rs 24.98 lacs for the six-month period ending September 30, 2025. This marks a significant shift from the profit of Rs 69.07 lacs recorded in the corresponding period of the previous year. The company's financial performance reflects ongoing operational changes and market challenges.

Financial Highlights

All financial figures in Rs lacs

The company's revenue saw a marginal decline of 1.76%, dropping to Rs 2,535.75 lacs from Rs 2,581.13 lacs in the previous year.

Operational Restructuring

A key development during this period was Lovable Lingerie's decision to close its Kagllipura and Erode units. The company has shifted operations to its Thalagatpura facility, a strategic move aimed at enhancing capacity utilization and reducing operational costs. This consolidation is expected to result in better asset deployment and workflow integration.

However, the closure of the Erode unit during the quarter led to a significant loss from discontinued operations, amounting to Rs 145.23 lacs. The company is in the process of transferring residual assets from the Erode unit to the Thalagatpura facility.

Management's Perspective

Lattupalli Vinay Reddy, Managing Director of Lovable Lingerie Limited, stated in the company's filing, "The consolidation is expected to enable better asset deployment and workflow integration. We anticipate a reduction in both fixed and variable costs through scale efficiencies."

Looking Ahead

While the current financial results reflect the short-term impact of these operational changes, the company's management appears optimistic about the long-term benefits of this restructuring. Investors and market analysts will be closely watching how these strategic moves translate into financial performance in the coming quarters.

The company's board meeting to review and approve these results was held on November 14, 2025, demonstrating Lovable Lingerie's commitment to timely disclosure and transparency with its stakeholders.

As the lingerie market in India continues to evolve, Lovable Lingerie's operational restructuring could potentially position the company for improved efficiency and competitiveness in the future. However, the immediate financial impact of these changes highlights the challenges involved in implementing such significant operational shifts.