Axel Polymers News

Axel Polymers Q3FY26 Loss Widens to ₹62.05 Lacs

Axel Polymers reported a net loss of ₹62.05 lacs for Q3FY26 compared to ₹75.58 lacs loss in Q3FY25. Revenue declined 20.28% YoY to ₹885.69 lacs amid operational challenges.

Axel Polymers Gets GST Show Cause Notice Worth ₹31.57 Cr

Axel Polymers Limited received GST show cause notice from Vadodara authorities alleging wrongful input tax credit availing worth ₹31.57 crore for FY 2021-22 to 2024-25. Company plans legal remedies.

Axel Polymers Promoter Aarasp Bodhanwala Sells 60,986 Equity Shares in Open Market

Aarasp Bodhanwala, Promoter and Director of Axel Polymers Limited, sold 60,986 equity shares worth Rs. 3,388,382.16 in the open market, reducing his shareholding from 11.59% to 10.87%. The transaction was executed and disclosed to BSE as per SEBI insider trading regulations.

Axel Polymers Reports Quarterly Results with Ongoing GST Investigation

Axel Polymers Limited announced its unaudited financial results for the second quarter and half year ended September 30, 2025. The company reported revenue from operations of Rs. 1071.96 lacs for the quarter, with a profit of Rs. 0.72 lacs. For the half year, revenue reached Rs. 2245.29 lacs with a profit of Rs. 5.11 lacs. The company faces an ongoing GST investigation by authorities regarding alleged wrongful availment of Input Tax Credit, with search proceedings conducted at factory premises in July 2024. No formal Show Cause Notice has been issued yet, but the company has deposited Rs. 1 crore under protest as penalty during the investigation. The results were reviewed by the Audit Committee and approved by the Board of Directors.

Axel Polymers Appoints New Independent Director as Kothari's Tenure Ends

Axel Polymers Limited appointed Ashokkumar Natwarlal Shah as Additional Director and Independent Director for a five-year term effective August 18, 2025. Shah, aged 71, holds a Bachelor of Commerce degree and Post Graduation Diploma in Tax Practice, with 43 years of corporate experience in finance, accounts, taxation, legal and commercial areas. He serves as Independent Director at Steelco Gujarat Limited and Finance Controller at Hi-Mak Pvt Ltd. The company reconstituted its Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee by including Shah. Simultaneously, Haresh Padamshi Kothari's tenure as Independent Director concluded at the close of business on August 18, 2025, following completion of his second and final term. Kothari also ceased membership from all three committees. The board meeting was held on August 18, 2025, from 2:00 PM to 2:45 PM.