Veejay lakshmi engineering works Limited has announced the resignation of Sri R. Gurubatham as Independent Director, effective February 12, 2026. The company informed BSE Limited through a regulatory filing under Regulation 30, detailing the departure of the director who had served on multiple board committees.

Director Profile and Tenure

R. Gurubatham served as an Independent Director with Director Identification Number (DIN) 10746471. His professional background and tenure details are outlined below:

Committee Memberships

Gurubatham held significant responsibilities within the company's governance structure, serving as a member of three key committees:

• Audit Committee
• Nomination and Remuneration Committee
• Stakeholders Relationship Committee

His resignation affects his participation in all these committees, requiring the company to address these vacancies in accordance with regulatory requirements.

Resignation Details

The resignation was formalized through a letter dated February 12, 2026, submitted to the Board of Directors. In his resignation letter, Gurubatham cited "other pre-occupations and personal reasons" as the primary factors behind his decision to step down from the directorship.

The letter specifically stated his inability to continue as Director due to these circumstances, requesting the company to complete necessary regulatory filings with the Registrar of Companies.

Board Response

The Board of Directors convened on February 12, 2026, to consider the resignation. The board unanimously decided to accept Gurubatham's resignation as requested and formally recorded their appreciation for his contributions during his association with the company.

The company acknowledged his assistance and guidance provided throughout his tenure, which spanned approximately 16 months from his appointment in September 2024.

Regulatory Compliance

Veejay Lakshmi Engineering Works Limited has fulfilled its disclosure obligations by informing BSE Limited of this directorship change under Regulation 30. The company will need to complete additional regulatory filings and potentially identify suitable candidates to fill the Independent Director position and committee memberships to maintain compliance with corporate governance requirements.

Veejay Lakshmi Engineering Works Limited reported challenging financial performance for the third quarter of FY26, with the company posting a net loss of ₹173.40 lakhs compared to a profit of ₹19.00 lakhs in the corresponding quarter of the previous year. The results were approved by the Board of Directors at their meeting held on February 12, 2026.

Financial Performance Overview

The company's revenue from operations declined significantly by 30.15% to ₹1597.92 lakhs in Q3FY26 from ₹2287.73 lakhs in Q3FY25. Total income, including other income of ₹88.77 lakhs, stood at ₹1686.69 lakhs for the quarter.

Nine-Month Performance

For the nine-month period ended December 31, 2025, the company's financial position deteriorated further. Revenue from operations declined to ₹5578.18 lakhs from ₹6175.12 lakhs in the corresponding period of FY25, representing a decrease of 9.67%. The net loss widened significantly to ₹532.25 lakhs compared to ₹181.94 lakhs in the previous year.

Segment-wise Performance

The company operates through two main divisions - Engineering and Textile. Both segments reported losses during the quarter, with the Textile division bearing the larger impact.

Exceptional Items and Labour Code Impact

The company reported exceptional items of ₹6.46 lakhs during the quarter, attributed to the implementation of new labour codes effective from November 21, 2025. The Government of India consolidated multiple existing labour laws into four unified labour codes, resulting in a one-time increase in employee benefit provisions as per actuarial valuation.

Earnings Per Share and Capital Structure

The company's earnings per share (EPS) turned negative at ₹(3.42) for Q3FY26 compared to positive ₹0.37 in Q3FY25. For the nine-month period, EPS stood at ₹(10.49) against ₹(3.59) in the previous year. The paid-up equity share capital remained unchanged at ₹507.19 lakhs with a face value of ₹10 per share.

Consolidated Results

The consolidated financial results, which include the associate company Veejay Sales and Services Limited, showed similar trends. The consolidated net loss for Q3FY26 was ₹173.40 lakhs, with the associate contributing a profit of ₹3.62 lakhs during the quarter and ₹20.03 lakhs for the nine-month period.

The financial results were reviewed by the Audit Committee and received an unmodified opinion from statutory auditors N.R.D. Associates, Chartered Accountants, dated February 12, 2026.