Board Change • May 06
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. Non-Executive Independent Director Rajnish Kansal was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 24
Indong Tea Company Limited Announces Executive Changes, Effective January 21, 2026 Indong Tea Company Limited accepted the resignation of Shri Chandan Gupta from the post of Company Secretary cum Compliance Officer (Key Managerial Personnel) of the Company with effect from January 21, 2026. The reason for his resignation is that his current salary structure is not sufficient to support his family, who are entirely dependent on him. He explored better opportunities and has received an offer from another organization. Indong Tea Company Limited approved the appointment of Shri Akash Poddar as the Company Secretary and Compliance Officer (Key Managerial Personnel) of the Company with immediate effect from January 21, 2026. Shri Akash Poddar is an Associate Member of the Institute of Company Secretaries of India and holds a Bachelor of Commerce (Honours) in Accountancy from the University of Calcutta. He possesses strong expertise in Corporate Secretarial functions, the Companies Act, 2013, and SEBI Regulations. His professional experience includes managing corporate actions such as Rights Issues, Buybacks, and Private Placements, as well as handling statutory compliances and filings for both listed and unlisted companies. The meeting of the Board of Directors was held on January 21, 2026. New Risk • Nov 17
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₹102m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹102m free cash flow). Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 59% per year over the past 5 years. Market cap is less than US$10m (₹256.2m market cap, or US$2.89m). Minor Risks Shareholders have been diluted in the past year (29% increase in shares outstanding). Revenue is less than US$5m (₹308m revenue, or US$3.5m). 
