Sudarshan Colorants India Limited has issued a postal ballot notice to shareholders seeking approval for the appointment of Mrs. Sudha Navandar as an Independent Director. The company dispatched the notice on March 10, 2026, initiating the formal process for this key board appointment.

Postal Ballot Details and Timeline

The postal ballot notice, dated February 03, 2026, was sent electronically to shareholders whose names appear in the register of members as on the cut-off date of February 27, 2026. The company has engaged National Securities Depository Limited (NSDL) to provide remote e-voting facilities for this process.

Director Appointment Proposal

The sole agenda item seeks shareholder approval through special resolution for appointing Mrs. Sudha Navandar (DIN: 02804964) as a Non-Executive and Independent Director for a term of five consecutive years, effective from February 03, 2026, to February 02, 2031. The Board of Directors appointed her as an Additional Director on February 03, 2026, based on the recommendation of the Nomination and Remuneration Committee.

Candidate Profile and Qualifications

Mrs. Sudha Navandar brings extensive professional credentials to the board:

She currently serves as director on multiple listed companies including Sudarshan Chemical Industries Limited, Yasho Industries Limited, Tribhovandas Bhimji Zaveri Limited, Anand Rathi Wealth Limited, and Anand Rathi Financial Services Limited, among others.

Committee Memberships and Experience

Mrs. Navandar holds significant committee positions across various companies, demonstrating her governance expertise. She serves as Chairperson of Audit Committees at Sudarshan Chemical Industries Limited, Tribhovandas Bhimji Zaveri Limited, and Anand Rathi Financial Services Limited. Additionally, she holds memberships in various Nomination and Remuneration Committees, Risk Management Committees, and Corporate Social Responsibility Committees across her directorships.

Voting Process and Compliance

The postal ballot complies with Sections 108 and 110 of the Companies Act, 2013, and Regulation 44 of SEBI Listing Regulations, 2015. Shareholders can cast their votes exclusively through the remote e-voting facility provided by NSDL. The company has appointed Mr. Rajesh Karunakaran (Membership No. FCS 7441, C.P. No. 6581), Practicing Company Secretary from Pune, as the scrutinizer for conducting the postal ballot process.

The results will be announced within two working days of the voting deadline and will be communicated to BSE Limited and National Stock Exchange of India Limited, where the company's equity shares are listed. The results will also be displayed on the company's website at www.sudarshan.com .

Sudarshan Colorants India Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, showing mixed performance with quarterly losses offset by nine-month profitability. The company also made significant board-level appointments and noted key management changes during its board meeting held on February 03, 2026. Additionally, the company has completed its regulatory compliance by publishing financial results in newspapers.

Financial Performance Overview

The company's Q3FY26 performance reflected challenging market conditions with revenue contraction and exceptional charges impacting profitability. The nine-month performance demonstrated resilience despite quarterly setbacks.

Exceptional Items Impact

The company reported exceptional items of ₹1,280 lakhs during Q3FY26, primarily attributed to the implementation of new Labour Codes. The incremental impact arose from changes in wage definitions under the four new Labour Codes notified by the Government of India on November 21, 2025. This included gratuity impact of ₹1,089 lakhs and compensated absences of ₹191 lakhs, representing past service costs from regulatory changes.

For the nine-month period, total exceptional items stood at ₹1,330 lakhs compared to nil in the corresponding previous period. The company classified these as exceptional items due to their non-recurring and regulatory-driven nature.

Operational Metrics

The company's cost structure showed improvements in several areas despite revenue decline. Cost of materials consumed decreased to ₹7,115 lakhs in Q3FY26 from ₹9,517 lakhs in Q3FY25. Employee benefits expenses reduced to ₹1,702 lakhs from ₹1,979 lakhs year-on-year.

Board Appointments and Management Changes

The Board of Directors approved significant organizational changes during the February 03, 2026 meeting. Mrs. Sudha Navandar was appointed as Non-Executive Independent Director for a five-year term, subject to shareholder approval.

Mrs. Navandar brings over thirty years of experience in audit and corporate consultancy, with expertise in Insolvency and Bankruptcy Code matters. She is a partner at M/s. Pravin R. Navandar & Co., Chartered Accountants.

CFO Resignation

The Board noted the resignation of Mr. Jugal Sahu as Chief Financial Officer, Key Managerial Personnel, and Senior Management Personnel. However, Mr. Sahu will continue serving during his notice period as per company policy, ensuring continuity in financial operations during the transition.

Regulatory Compliance and Corporate Developments

Pursuant to Regulation 30 and Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company published its unaudited standalone financial results in Business Standard (All Editions) and Lakshadeep (Mumbai) on February 04, 2026. The newspaper publication was duly submitted to BSE Limited and National Stock Exchange of India Limited.

The company successfully completed its name change from Heubach Colorants India Limited to Sudarshan Colorants India Limited, effective December 12, 2025, following all regulatory approvals and shareholder consent through postal ballot on December 06, 2025.

The financial results received an unmodified conclusion from statutory auditors M S K A & Associates LLP in their limited review report. The company operates in a single business segment of "Colorants" and has no subsidiary, associate, or joint venture companies as of December 31, 2025.