Axel Polymers Appoints New Independent Director, Reshuffles Committees
Axel Polymers Limited has appointed Ashokkumar Natwarlal Shah as an Additional Director and Independent Director for a five-year term, effective August 18, 2025. Shah, 71, brings 43 years of corporate experience in finance, accounts, taxation, legal, and commercial areas. The company has also restructured its Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee, with Shah joining all three. Haresh Padamshi Kothari concluded his tenure as Independent Director on the same date. These changes were decided in a board meeting held on August 18, 2025.
24Jul 25
Axel Polymers Reports Q1 FY26 Profit Amid GST Investigation
Axel Polymers Limited announced Q1 FY26 results, showing a turnaround to profit despite a 72.30% revenue decline. The company reported a net profit of Rs. 4.39 lacs, compared to a loss of Rs. 53.05 lacs in Q1 FY25. Total expenses decreased significantly to Rs. 1,166.52 lacs. Axel Polymers is under GST investigation for alleged wrongful Input Tax Credit availment and has deposited Rs. 1 crore as a precautionary penalty. The Board approved these results on July 24, 2025.