Veejay Lakshmi Engineering Works Limited has announced the retirement of Independent Director Sri Krishnamoorthi Narendra following the completion of his second consecutive five-year term. The retirement became effective on December 24, 2025, marking the end of his decade-long association with the company's board.

Director Retirement Details

The Board of Directors formally acknowledged Sri Krishnamoorthi Narendra's retirement at their meeting held on December 31, 2025. The retirement was necessitated by the expiry of his second term as Independent Director, in accordance with regulatory requirements.

Tenure and Service Record

Sri Krishnamoorthi Narendra's association with Veejay Lakshmi Engineering Works Limited spanned exactly ten years. He was initially appointed as an Independent Director on December 25, 2015, and subsequently reappointed for his second term during the Annual General Meeting held in September 2019.

Regulatory Compliance

The retirement announcement was made in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, read with SEBI/HO/CFD/CFD-POD1/P/CIR/2023/123 dated July 13, 2023. The company has fulfilled all disclosure requirements related to the directorial change.

Board Resolution and Appreciation

The Board of Directors passed a resolution acknowledging Sri Krishnamoorthi Narendra's retirement and expressed deep appreciation for his invaluable guidance and exemplary services rendered during his entire tenure. The resolution specifically recognized his contributions throughout his decade-long service as an Independent Director on the company's board.

The company secretary and compliance officer V.K. Swaminathan signed the official communication regarding the retirement, ensuring proper documentation and regulatory compliance for this directorial change.

Veejay Lakshmi Engineering Works Limited , a company operating in the engineering and textile sectors, has reported a significant increase in net loss for the half-year ended September 30, 2025. The company's financial performance shows challenges in both its Engineering and Textile divisions.

Financial Highlights

Segment-wise Performance

Key Observations

1. Revenue Growth: Despite challenging market conditions, the company managed to increase its total revenue from operations by 2.39% year-over-year.

2. Reduced Losses: The net loss for H1 FY26 decreased by 39.38% compared to the same period last year, indicating some improvement in overall financial management.

3. Segment Performance:

   • The Textile Division continues to be the major revenue generator, contributing about 79.78% of the total revenue.
   • Both divisions reported losses, with the Textile Division showing a significantly higher loss before interest and tax.

4. Earnings Per Share: The basic earnings per share improved from -6.54 in H1 FY25 to -3.96 in H1 FY26, reflecting the reduction in net loss.

5. Balance Sheet Position: As of September 30, 2025, the company's total assets stood at Rs. 5,785.92 lakhs, with a total equity of Rs. 1,139.04 lakhs.

6. Borrowings: The company's long-term borrowings as of September 30, 2025, were Rs. 2,142.46 lakhs, indicating a significant reliance on debt financing.

The Board of Directors approved these unaudited financial results at their meeting held on November 10, 2025. The statutory auditors, M/s. NRD Associates, issued a limited review report with an unmodified opinion for both standalone and consolidated results.

Veejay Lakshmi Engineering Works Limited continues to face challenges in both its business segments. While the company has managed to reduce its losses compared to the previous year, both the Engineering and Textile divisions remain under pressure. The management may need to focus on cost optimization and operational efficiency to improve profitability in the coming quarters.