Xpro India590013Board key decisions

Board approves Q2 results, AED 83 million guarantee for subsidiary, director re-appointment and new auditors

Xpro India's board met on November 3, 2026 and approved: Q2/H1 FY27 results, a corporate guarantee of up to AED 83 million for subsidiary XDF.

By ScoutQuest · Tue 3 Nov 2026, 5:24 PM IST · 3 min read

Revenue from Operations (Q2 FY27, Standalone): 17669.38 lakhs
Profit for the Period (Q2 FY27, Standalone): 952.15 lakhs
Corporate Guarantee Approved: AED 83 million

The board of Xpro India met on November 3, 2026 and approved several items together: the September-quarter results, a large guarantee for its overseas subsidiary, a director's re-appointment, a change of statutory auditors and a managing director appointment.

Quarterly numbers

Standalone revenue from operations for the quarter ended September 30, 2026 was 17669.38 lakhs, and profit for the period was 952.15 lakhs.
Basic earnings per share was 4.06, marked as not annualised.
The statutory auditors, Walker Chandiok & Co LLP, issued a limited review report on the unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026.

Corporate guarantee for the subsidiary

The Board approved a corporate guarantee of up to AED 83 million (approximately INR 215 Crores) in favour of Emirates Development Bank P.J.S.C. (EDB).
The guarantee secures repayment by Xpro Dielectric Films FZ-LLC (XDF), a subsidiary, of the principal and interest payable under an AED 63 million term facility, along with a cash credit facility.
The term facility is proposed to be used for refinancing and repayment of XDF's existing euro-denominated facility availed from AKA Ausfuhrkredit-Gesellschaft mbH (AKA).
The guarantee of EUR 23.72 million provided earlier to AKA would stand cancelled subsequently, on completion of the necessary documentation and formalities.

Board and management changes

Sri K Balakrishnan has been re-appointed as a Non-Executive Independent Director for a further term of five consecutive years, from May 25, 2027 to May 24, 2032, in line with the Companies Act, 2013 and the Listing Regulations.
The update states he is not related to any director, key managerial person or promoter group, and is not debarred from holding directorships by any SEBI or other authority order.
The Board approved the issue of a letter of appointment to Sri Girish Behal to be designated Managing Director & Chief Executive Officer with effect from January 1, 2027. The required shareholder approval for his appointment as Managing Director was accorded at the 29th Annual General Meeting held on July 20, 2026.

Change of statutory auditors

The Board approved the Audit Committee's recommendation to appoint BSRS & Co LLP, Chartered Accountants, as statutory auditors, commencing from the conclusion of the 30th Annual General Meeting to be held during FY 2027-28 until the conclusion of the 35th Annual General Meeting to be held during FY 2032-33.
The appointment is to be placed before shareholders for their approval.
The current statutory auditors, Walker Chandiok & Co LLP, will cease to hold office on the conclusion of the 30th Annual General Meeting.

What a retail investor should take away

The guarantee is for a subsidiary's borrowings and replaces, at least in part, an earlier guarantee given to AKA. It refinances an existing facility rather than adding a brand-new borrowing at the listed company level, but it does put the parent's balance sheet behind the subsidiary's repayment obligation.
The director re-appointment and the proposed auditor appointment are long-term governance items; the auditor change takes effect only after the next annual general meeting cycle and needs shareholder approval.

Also from Xpro India

Xpro India uploads audio recording of Q2/H1 FY2026 earnings conference call held November 4, 2026

4 Nov 2026

Xpro India Q2 FY27: revenue up 47.4%, Barjora dielectric line doubles India capacity

4 Nov 2026

Xpro India Ltd press release, Q2 FY27

3 Nov 2026

All Xpro India stories