Walchandnagar Industries Limited announced the re-appointment of Mr. Chirag C. Doshi as Managing Director & CEO for a period of 3 years effective April 1, 2026. The decision was made during the Board of Directors meeting held on January 29, 2026, under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Leadership Continuity

The board approved the re-appointment of Mr. Chirag C. Doshi based on the recommendation of the Nomination and Remuneration Committee. This marks his continued leadership role with the company, where he has been working since 1997 in various capacities.

Executive Profile and Experience

Mr. Chirag C. Doshi brings extensive experience to his continued leadership role, having worked with the company since 1997 in various capacities. The company highlighted his excellent contribution in day-to-day operations during his tenure as MD and subsequently as MD & CEO. His current term has been particularly notable for his role in the transformation of the company and efforts to bring the company back to profitability and make it long-term debt-free.

Family Relationships in Leadership

The disclosure revealed family relationships within the leadership structure. Mr. Chakor L. Doshi, who serves as Chairman, is the father of Managing Director & CEO Mr. Chirag C. Doshi. He is not related to any other Director of the Company.

Registered Office Relocation

The board has also approved relocating the company's registered office from its current Mumbai location to Pune. The move involves shifting from Flat No. 3, Walchand Terraces, Tardeo Road, Mumbai - 400 034 to Siddharth Towers, Building No.1, 9th Floor, S.No. 12/3-B, G. A. Kulkarni Path, Kothrud, Pune - 411 038.

Regulatory Compliance

Both decisions align with regulatory requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosures were made pursuant to Regulation 30, read with Schedule III of the regulations and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The re-appointment of the Managing Director & CEO requires shareholder approval as per corporate governance norms.

Walchandnagar Industries Limited has announced its unaudited financial results for the quarter ended December 31, 2025, showing a significant improvement in quarterly performance despite ongoing challenges in the nine-month period. The Board of Directors approved these results at their meeting held on January 29, 2026.

Financial Performance Overview

The company demonstrated a strong quarterly turnaround, moving from losses to profitability in Q3FY26. This improvement comes despite operational challenges faced during the year, including a lockout at the foundry plant that was resolved in November 2025.

Nine-Month Performance Challenges

While the quarterly results show improvement, the nine-month performance reflects the impact of operational disruptions experienced during the year.

Segment-Wise Performance

The company operates across three main segments: Heavy Engineering, Foundry and Machine Shop, and Others. Heavy Engineering continues to be the primary revenue contributor.

Q3FY26 Segment Revenue:

• Heavy Engineering: ₹7,404 lakhs (vs ₹4,278 lakhs in Q3FY25)
• Foundry and Machine Shop: ₹110 lakhs (vs ₹1,023 lakhs in Q3FY25)
• Others: ₹582 lakhs (vs ₹609 lakhs in Q3FY25)

Operational Developments

Several significant operational developments occurred during the quarter:

• Foundry Operations: The lockout at the company's foundry plant in Satara, Maharashtra was withdrawn on November 24, 2025, with manufacturing operations resuming from December 20, 2025
• ESOP Implementation: The company issued 15,609 equity shares under ESOP 2020 during the quarter, recognizing an expense of ₹23 lakhs
• Labour Code Impact: Exceptional items of ₹136 lakhs were recorded due to the implementation of new Labour Codes, including gratuity impact of ₹115 lakhs and compensated absences of ₹21 lakhs

Cost Structure Analysis

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

The quarterly results reflect the company's resilience and ability to return to profitability despite facing operational challenges throughout the year. The resumption of foundry operations and improved performance in the Heavy Engineering segment contributed to the positive quarterly outcome.