Rashtriya Chemicals & Fertilizers has announced a leadership transition with Ms. Nazhat J. Shaikh assuming charge as Chairman & Managing Director (CMD) effective January 1, 2026. The company informed stock exchanges about this significant board change following the superannuation of the previous CMD.

Leadership Transition Details

The board changes involve two key developments that took effect simultaneously on January 1, 2026:

Ms. Shaikh had been entrusted with additional charge of the CMD position in November 2025, and has now formally assumed the role. Shri S.C. Mudgerikar superannuated from the company's services on December 31, 2025, at the closure of business hours.

Professional Background of New CMD

Ms. Nazhat J. Shaikh brings extensive experience to her new role, with a career spanning over three decades in the fertilizer industry. Her educational qualifications include a Bachelor's degree in Commerce from Mumbai University and she is a qualified Chartered Accountant. Additionally, she is a certified SAP FI Consultant.

Career Progression at RCF

Ms. Shaikh's journey with Rashtriya Chemicals and Fertilizers began in 1989 when she joined as Accounts Officer. During her tenure, she handled various finance-related responsibilities across different divisions:

• Finance operations in Trombay, Fertilizer Marketing & Corporate divisions
• IT responsibilities during crucial SAP ERP implementation and upgrade phases
• Member of Women's Cell and Complaints Committee for prevention of Sexual Harassment
• Served as Chairperson of the Committee and facilitator for Gender audit in RCF

External Experience and Recognition

Between 2015 and 2019, Ms. Shaikh served as Director (Finance) at National Film Development Corporation (NFDC), a CPSE under the Ministry of Information & Broadcasting. During her tenure at NFDC, she briefly held additional charge as Managing Director, gaining exposure to non-finance areas including media & production business, film festivals, HR, legal & administrative functions.

She rejoined RCF as Executive Director (Finance) on August 1, 2019, taking responsibility for finance, accounting, taxation, reporting, compliances, treasury functions, and financial concurrence of all proposals. From February 4, 2022, to February 8, 2024, she also held additional charge as Director (Finance) at Projects & Development India Limited (PDIL).

Awards and Recognition

Ms. Shaikh's professional excellence has been recognized through several awards:

• Best Woman Employee Award in Executive Category (3rd place) by Forum of Woman in Public Sector under SCOPE aegis in February 2014
• CFO100 Next Award 2013 instituted by the CFO Institute

Regulatory Compliance

The company has disclosed that there are no relationships between directors and confirmed that Ms. Shaikh is not debarred from holding the office of Director pursuant to any SEBI order or order of any other authority. The appointment complies with Regulation 30 of SEBI Listing Regulations and related circulars.

This leadership transition marks a significant milestone for Rashtriya Chemicals and Fertilizers as it continues its operations under new management while maintaining continuity through Ms. Shaikh's extensive experience within the organization.

Rashtriya Chemicals & Fertilizers Ltd (RCF) has reported a strong financial performance for the second quarter, with significant growth in both revenue and profit.

Financial Highlights

• Net profit increased by 33.4% year-on-year to ₹105.40 crore
• Revenue rose by 23.4% to ₹5,292.00 crore
• EBITDA margin declined to 4.1% from 4.7% in the same quarter last year

The company's robust top-line growth was primarily driven by better realizations and increased demand for its products. However, the EBITDA margin experienced some compression due to higher input and production costs.

Segment Performance

RCF's performance across its business segments for the quarter was as follows:

The fertilizer segment remained the largest contributor to the company's revenue, while the industrial chemicals segment showed strong profitability relative to its revenue share.

Market Response

Despite the positive financial results, RCF's shares closed down 0.97% at ₹150.50 on the day of the announcement. This may indicate that the market had already priced in expectations of strong performance or that investors are concerned about the margin compression.

Looking Ahead

While RCF has demonstrated strong growth in revenue and profit, the company may face challenges in maintaining its margins due to rising input costs. The management's ability to navigate these challenges and capitalize on the growing demand for its products will be crucial for sustaining this growth trajectory in the coming quarters.

Investors and analysts will likely be watching closely to see how RCF manages its cost structure and whether it can improve operational efficiencies to protect its margins in the face of rising expenses.