Vesuvius India Limited, a prominent player in the industrial sector, has successfully concluded its postal ballot voting, resulting in the appointment of three new directors to its board. The voting, which took place from October 9 to November 7, saw strong shareholder participation and approval for all three special resolutions.

Key Appointments

The postal ballot resulted in the following appointments:

Voting Process and Results

The voting process was conducted through remote e-voting, overseen by scrutinizer Amber Ahmad. The results demonstrate strong shareholder support for the new appointments:

1. Ms. Rashmi Joshi: Received near-unanimous approval with 99.99% votes in favor.
2. Mr. Sridhar Gorthi: Secured a solid majority with 84.87% votes in support.
3. Mr. Biswadip Gupta: Gained overwhelming acceptance with 99.45% votes in favor.

Shareholder Participation

The postal ballot saw active participation from shareholders across different categories:

• Promoter and Promoter Group: 100% participation with all votes in favor of all resolutions.
• Public Institutions: 97.46% of shares voted, with varying support across resolutions.
• Public Non-Institutions: Approximately 14.98% of shares participated in the voting.

Compliance and Transparency

Vesuvius India Limited has demonstrated its commitment to corporate governance by conducting this postal ballot in accordance with the Companies Act, 2013, and SEBI regulations. The company promptly disclosed the voting results and the scrutinizer's report to the stock exchanges, ensuring transparency in the process.

Looking Ahead

With these new appointments, Vesuvius India Limited has strengthened its board composition. The high approval rates for Ms. Rashmi Joshi and Mr. Biswadip Gupta suggest strong shareholder confidence in their potential contributions. While Mr. Sridhar Gorthi's appointment also received a clear majority, the slightly lower approval rate may indicate some diversity in shareholder perspectives regarding his role.

All three appointments have taken effect from September 24, marking a significant step in enhancing the company's leadership structure. As these directors assume their positions, stakeholders will be keen to observe how their expertise and insights contribute to Vesuvius India's strategic direction and governance in the coming years.

Vesuvius India Limited , a leading manufacturer of refractories, has announced its unaudited financial results for the third quarter ended September 30, 2025, along with significant corporate developments.

Q3 Financial Performance

The company reported a total income from operations of ₹140,101.00 lakh for the quarter ended September 30, 2025. This includes gross sales of ₹135,993.00 lakh and other operating revenue of ₹4,108.00 lakh. The net profit for the period stood at ₹6,300.00 lakh.

Appointment of Interim CFO

The Board of Directors has approved the appointment of Mr. Subhabrata Nandi as the Chief Financial Officer of the company in an interim capacity, effective November 11, 2025. Mr. Nandi, a Chartered Accountant and Cost Accountant, brings over 27 years of experience to the role. He has been with Vesuvius India since November 2004, most recently serving as Associate Director-Finance.

Mr. Nandi's expertise spans various areas of finance, including business finance, leadership, strategy, and controllership. His appointment is expected to contribute to the company's financial management and strategic planning.

Sale of Visakhapatnam Plant

Vesuvius India has announced the closure and sale of its plant located at Plot Nos. 13-15, Block E, IDA, Visakhapatnam. The plant ceased operations on October 13, 2025, following the commencement of commercial operations at the company's new Al-Si Monolithic Plant in Anakapalli.

The company subsequently sold the land and structures of the Visakhapatnam plant on October 24, 2025, for a total consideration of ₹30.51 crore. Vesuvius India has stated that this closure and sale are not expected to have any material adverse impact on its business operations or revenue.

Other Corporate Actions

During the nine months ended September 30, 2025, Vesuvius India implemented a stock split. Effective from the record date of June 10, 2025, each equity share with a face value of ₹10 was sub-divided into 10 equity shares with a face value of ₹1 each. The company has restated its Earnings Per Share (EPS) for prior periods based on this revised face value, in accordance with Ind AS 33.

The unaudited financial results have been reviewed by the Audit Committee and approved by the Board of Directors. Price Waterhouse Chartered Accountants LLP, the statutory auditors, have issued an unmodified opinion on these financial results.

Vesuvius India continues to focus on its core business of manufacturing, trading, and sale of refractories, with its performance being assessed as a single operating segment by the company's management.

As the company navigates these changes, including the appointment of a new interim CFO and the consolidation of its manufacturing operations, stakeholders will be watching closely to see how these developments impact Vesuvius India's future performance and strategic direction in the refractories market.