Sky Industries Limited has announced a significant change in its board composition with the resignation of Mr. Gopalakrishnan Mani from his position as Whole Time Director. The announcement, made on February 19, 2026, marks an important corporate development for the Mumbai-based company.

Resignation Details and Timeline

Mr. Gopalakrishnan Mani (DIN: 10324513) has tendered his resignation from the services of the company, citing personal reasons for his decision. The resignation will become effective from the closure of business hours on March 31, 2026, providing adequate time for transition arrangements.

Regulatory Compliance and Documentation

The company has fulfilled its regulatory obligations by filing the necessary disclosures under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement references SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026, ensuring complete compliance with current regulatory requirements.

The resignation letter, submitted by Mr. Mani, confirms that there are no material reasons for his departure beyond the personal circumstances cited. He has expressed appreciation for the support and opportunities provided during his tenure and committed to ensuring a smooth handover of responsibilities.

Transition and Continuity

Mr. Mani has assured the board of his full cooperation during the transition period to ensure seamless handover of his duties. In his resignation letter, he acknowledged the rewarding and enriching experience of his tenure with the company, expressing gratitude for the knowledge gained while working with the board and management team.

The resignation has been formally accepted by the company, with proper documentation and acknowledgment procedures completed as per corporate governance standards. All relevant information has been made available on the company's website at www.skycorp.in for stakeholder reference.

Company Information

Sky Industries Limited, incorporated in 1989, operates from its corporate office located at 1101, Universal Majestic, Behind RBK International School, Ghatkopar Mankhurd Link Road, Chembur (West), Mumbai - 400043. The company trades on BSE Limited under scrip code 526479.

Sky Industries Limited announced its unaudited financial results for the quarter ended December 31, 2025, presenting a mixed performance with revenue growth offset by margin pressures and regulatory impacts. The Board of Directors approved these results at their meeting held on February 07, 2026.

Financial Performance Overview

The company's Q3FY26 performance showed contrasting trends in revenue and profitability metrics:

Sequential Performance Analysis

While year-on-year comparisons showed growth, sequential performance indicated some challenges. Revenue from operations declined from ₹2,440.10 lakhs in Q2FY26 to ₹2,063.16 lakhs in Q3FY26, representing a 15.44% quarter-on-quarter decrease. Net profit also decreased sequentially from ₹175.38 lakhs to ₹139.78 lakhs.

Nine-Month Performance

For the nine months ended December 31, 2025, Sky Industries demonstrated resilience:

Exceptional Items Impact

The quarter's results were affected by exceptional items worth ₹30.58 lakhs. This amount represents past service costs on gratuity and compensated absences arising from the revised definition of wages under the newly notified Labour Codes. The Government of India notified four Labour Codes on November 21, 2025, consolidating 29 existing labour laws.

Expense Structure Analysis

The company's expense management showed mixed results during Q3FY26:

Consolidated Results

On a consolidated basis, which includes subsidiary Skytech Textiles Private Limited, the company reported revenue from operations of ₹2,118.06 lakhs for Q3FY26 compared to ₹2,031.90 lakhs in Q3FY25. Consolidated net profit after tax stood at ₹145.02 lakhs versus ₹127.10 lakhs in the corresponding quarter of the previous year.

Business Segment Information

Sky Industries primarily operates in the manufacture and trading of narrow fabrics as a single business segment. The company maintains its registered office at C-58, TTC Industrial Area, Thane Belapur Road, Navi Mumbai, and its corporate office in Chembur, Mumbai. The financial results were reviewed by the Audit Committee and approved by the Board of Directors, with limited review reports issued by CGCA & Associates LLP, Chartered Accountants.