Borosil Scientific Approves FY26 Results, Raises ₹250 Crore Funding Limit, Appoints New CEO
Borosil Scientific reported audited financial results for FY26, with total income at ₹43,771.50 lakhs and profit before tax at ₹5,374.58 lakhs. The Board approved seeking shareholder authorization to raise up to ₹250 crores. Mr. Vinayak Patankar was re-appointed as Whole-time Director & CEO, and Mr. Ramavtar Sharma appointed as Company Secretary & Compliance Officer.
The approval to raise funds up to ₹250 crores and the re-appointment of the CEO and appointment of a new Company Secretary are material events that can significantly impact the company's strategic direction and operations.
The company reported positive financial results, announced a significant fundraising limit, and made key management appointments, indicating forward-looking strategies and stability.
Borosil Scientific Limited's Board of Directors convened on May 20, 2026, to approve the audited financial statements (standalone and consolidated) for the fiscal year ended March 31, 2026, and the financial results for the quarter and year ended March 31, 2026. The company's statutory auditors, Chaturvedi & Shah LLP, issued an unmodified audit opinion on these results.
The Board also received approval to seek shareholder authorization at the upcoming Annual General Meeting to raise funds up to ₹250 crores through various modes, including qualified institutional placement and further public offers, subject to regulatory approvals.
In key management changes, Mr. Vinayak Madhukar Patankar was re-appointed as Whole-time Director & CEO for a period of three years, effective December 2, 2026. Concurrently, Mr. Sanjay Gupta resigned as Company Secretary and Compliance Officer, ceasing to be KMP and SMP, effective May 20, 2026. Mr. Ramavtar Sharma has been appointed as the new Company Secretary & Compliance Officer and KMP & SMP, effective May 21, 2026. Mr. Sharma has also been authorized as one of the KMPs for making disclosures to the stock exchanges.
The Board meeting commenced at 12:50 p.m. (IST) and concluded at 2:35 p.m. (IST). The company reported strong financial performance with total income of ₹43,771.50 lakhs and a profit before tax of ₹5,374.58 lakhs for the year ended March 31, 2026. The company also incurred exceptional expenses related to a Voluntary Retirement Scheme (VRS) and the impact of new Labour Codes.
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