Organic Coatings Ltd Announces Key Appointments, Auditor Changes, and Strategic Approvals

Organic Coatings Ltd Announces Key Appointments, Auditor Changes, and Strategic Approvals​

Organic Coatings Limited, a manufacturer of printing inks and allied products, announced several significant corporate decisions following its Board meeting held on July 14, 2026. The board approved key appointments in the audit function, welcomed two new Independent Directors to the board, and finalized several strategic operational approvals.

Among the most notable changes in governance was the appointment of Mr. Ramanathan Ganesh (DIN 00016260) and Mr. Subhash Ambubhai Patel (DIN: 00535221) as Additional Directors in the category of Non-Executive Independent Director, effective from July 14, 2026.

Mr. Ramanathan Ganesh, who has over four decades of experience in Finance, Capital Markets, and Investment Banking, was appointed to the board. His professional background includes leadership roles across corporate finance, stock brokering, and housing finance. Mr. Subhash Ambubhai Patel, a Chartered Accountant and Founding Partner of S. A. Patel & Co., Vadodara, brings over 38 years of experience in audit, taxation, valuation, and regulatory matters.

Audit and Committee Restructuring​

The company also addressed its auditing functions, announcing the removal of M/s Dharmesh A. Shah and Associates, Chartered Accountants, Mumbai, as Internal Auditors for the financial years 2026-27 and 2027-28, with their tenure concluding on June 30, 2026.

M/s ABSM & Associates, Chartered Accountants, Jaipur, were appointed as the new Internal Auditors for the Financial Year 2026-27. The firm is described as a distinguished professional consultancy team specializing in Audit and Assurance, Direct Taxation, and Project Consultancy.

In addition to these changes, Mr. Kamal Lalani, a practicing company secretary with over 11 years of experience in Corporate Laws and Corporate Governance, was appointed as the Secretarial Auditor for the Financial Year 2026-27.

Strategic Approvals and Personnel Changes​

The Board meeting approved several strategic decisions vital to the company's future operations and structure:

• Office Shift: The proposal for shifting the Registered Office of the Company from Maharashtra to Gujarat was approved, subject to necessary shareholder and regulatory approvals.
• Committee Reconstitution: Both the Nomination and Remuneration Committee and the Audit Committee were reconstituted.
• Financial Facility: The company decided to avail a Working Capital Term Loan/Credit Facility totaling INR 33.60 Lakhs sanctioned by Bank of Maharashtra.
• Director Appointment Conclusion: The Board noted the conclusion of Mr. Ashwinkumar Harshadrai Raval's term as Non-Executive Independent Director, effective from the close of business on June 27, 2026.

The company also approved the reduction of Director Remuneration and appointed a Nodal Officer concerning the Investor Education and Protection Fund (IEPF).

Stock Price Movement​

Organic Coatings Ltd settled on Monday at ₹19.21, sinking 0.47% from the previous close. The shares traded within an intraday range, bottoming out at ₹19.21 and reaching a high of ₹19.39.