KRBL stock rallies 3% following fresh updates from the company; check details

In the early trade, the stock gained as much as 2.9% to ₹413.25 on the NSE.

In one of its filings, the company stated on Monday that its board has ordered an independent review following the resignation of independent director Anil Kumar Chaudhary, who had raised multiple corporate governance concerns.

Shares of the company on Monday ended 9.48% lower at ₹402 apiece on the NSE.

The company said separate meetings of independent directors and the board were convened on Monday to discuss the observations made by Chaudhary in his resignation letter dated September 8.

Chaudhary stepped down with immediate effect on September 8, saying he could no longer contribute meaningfully to the board due to what he called a culture where "dissent is suppressed or sidelined."

In his resignation letter, the independent director detailed concerns, including inconsistencies in board meeting minutes, information being withheld from directors, unjustified write-offs of export receivables, misuse of CSR funds, arbitrary pay decisions, and major changes to company objectives made without proper discussion.

The board convened emergency meetings on Monday to address the allegations.

KRBL said it would hire a third-party firm to review the issues within 30 days, with board committees to make recommendations based on the findings.

"We continue to conduct the business with utmost transparency and integrity and would keep the stock exchanges informed about any further updates," KRBL said in a stock exchange filing.

The company said it has systems and processes in place commensurate with its operations size to ensure financial impact or non-compliances are highlighted to the board with full disclosures to stock exchanges as required.

Conference call update

In a separate filing, KRBL said that a conference call for analysts/investors is scheduled for Tuesday, September 16, 2025, at 04:00 P.M. The call is being held at a shorter notice to address the queries of the analysts/investors on the recent developments in the company.