TPTPL Plastech526582Board key decisions

Board approves Q2/H1 FY27 results, CEO transition and committee reconstitution

Board approved unaudited Q2/H1 FY27 results.

By ScoutQuest · Wed 4 Nov 2026, 8:20 PM IST · 2 min read

Consolidated Q2 revenue from operations

14,949.82 (Rs. in Lakhs)

Consolidated Q2 profit after tax

837.80 (Rs. in Lakhs)

Bhuj IBC installed capacity

1,50,000 IBCs per annum

Quarterly and half-year results

• On a consolidated basis, revenue from operations for the quarter ended 30 September 2026 was 14,949.82 (Rs. in Lakhs), profit before tax 1,098.60 and profit after tax 837.80 (Rs. in Lakhs). Basic and diluted EPS was 1.07.
• On a standalone basis, revenue from operations for the quarter was 14,851.72 (Rs. in Lakhs) and profit after tax 849.00 (Rs. in Lakhs).
• For the half year, standalone revenue from operations was 27,289.74 (Rs. in Lakhs) and profit after tax 1,503.38 (Rs. in Lakhs).
• The statutory auditor, Raman S Shah & Associates, issued limited review reports on both the consolidated and standalone results.

Change at the top

• Jayesh Ajitkumar Ashar, aged 62 years, resigned as Chief Executive Officer with effect from the close of business hours on 30 November 2026, citing personal reasons arising from family commitments.
• The board approved the appointment of Mangesh Sarfare as Chief Executive Officer and Key Managerial Personnel for a period of two (2) years with effect from 1 December 2026.
• Consequent to that appointment, Sarfare resigned as a Non-Executive Director with effect from the close of business hours on 4 November 2026. The two changes therefore overlap only for the month of December, when the outgoing CEO's notice period runs to 30 November and the new CEO takes charge the next day.

Committee reconstitution

• The board approved the reconstitution of the Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee and the Corporate Social Responsibility Committee with effect from 4 November 2026.
• The company states this follows the change in designation of Mangesh Sarfare from Non-Executive Director to Chief Executive Officer.

New manufacturing facility

• During the quarter, the company commenced commercial operations through its wholly owned subsidiary at Bhuj, Gujarat, for manufacturing Intermediate Bulk Containers (IBCs).
• The installed capacity is 1,50,000 IBCs per annum, and the facility is expected to generate additional annual revenue of approximately 100 crore.

How to read this

• The update combines a routine quarterly results disclosure with a board-level leadership change and the consequential reshuffle of committee membership.
• A CEO exit can create questions about continuity, but here a named successor takes charge the day after the outgoing CEO's term ends, with a fixed two-year term.
• The new Bhuj plant is described as having already begun commercial operations, so it is a capacity addition rather than only a future plan.

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