Vesuvius India’s Board of Directors approved the Audited Financial Results for the year ended December 31, 2025, reporting a total comprehensive income of ₹26,233 lakhs. The Board recommended a dividend of ₹1.50 per share, subject to shareholder approval. Significant governance changes include the appointment of Mr. Neeraj Kumar Jumrani as CFO effective March 16, 2026, and the appointment of M/s J K & Co. as the Cost Auditor for FY2026.
Board Meeting Outcomes and Financial Results (FY Ended Dec 31, 2025)
The Board of Directors of Vesuvius India Limited met on February 26, 2026, to approve several key items. The primary outcome was the approval of the Statement of Audited Financial Results for the Financial Year ended December 31, 2025, along with the Auditor’s Report, which contained an unmodified opinion.
The Statement of Audited Financial Results (in lakhs) showed:
- Total Income from Operations: ₹210,433 for FY2025, up from ₹186,857 in FY2024.
- Profit Before Tax: ₹35,638 for FY2025, compared to ₹34,884 in FY2024.
- Net Profit for the period: ₹26,408 for FY2025 (compared to ₹26,452 in FY2024).
- Total Comprehensive Income: ₹26,233 for FY2025.
- Basic Earnings Per Share: ₹13.01 for FY2025 (restated).
Dividend Recommendation and Dates
The Board recommended a dividend of Rs. 1.50 (One Rupee and Fifty Paisa) per equity share of Re. 1/- each for FY2025. This recommendation is contingent upon approval by shareholders at the ensuing Annual General Meeting (AGM), which is scheduled for Thursday, May 7, 2026. The Record Date for determining entitlement to this dividend has been fixed as Thursday, April 30, 2026.
Key Appointments and Resignations
The Board approved several changes concerning key managerial and audit personnel:
- Appointment of Cost Auditor: M/s J K & Co., Cost Accountant (FRN: 004010), was appointed as the Cost Auditor for FY 2026, effective from January 1, 2026, till December 31, 2026.
- Appointment of Chief Financial Officer: Mr. Neeraj Kumar Jumrani was appointed as CFO, effective from March 16, 2026. He brings over 20 years of senior finance leadership experience from the Linde Group.
- Resignation of Interim CFO: The resignation of Mr. Subhabrata Nandi from the position of Interim Chief Financial Officer was accepted, effective at the close of business hours on March 15, 2026.
- Appointment of Senior Managerial Personnel: The appointments of Mr. Thomas Mathew (Director, M&T*), Mr. Ashis Jain (Procurement Director*), Mr. Purushottam Bedare (Commercial Director, IP*), and Mr. Vikram Maladi (Supply Chain Director*) were approved, effective from March 1, 2026.
Auditor’s Report Highlights
The Independent Auditor’s Report confirmed that the financial statements present a true and fair view of the company’s affairs as of December 31, 2025. A key audit matter concerned the Appropriateness of Recognition of Revenue under Ind AS 115, for which the auditor found no exceptions after testing controls and contracts.
Regarding internal controls, the auditors opined that the Company has adequate internal financial controls system with reference to financial statements operating effectively as at December 31, 2025.
The report also detailed that the Company has disclosed pending tax disputes, notably a significant amount related to the Income-tax Act, 1961, where ₹712 lakhs (net) is disputed, with proceedings pending at the Commissioner of Income Tax (Appeals) forum. Furthermore, the auditor noted an exception regarding the maintenance of the electronic audit trail facility for database-level data changes.
Source: BSE
