The Board at its meeting held today 13.06.2025 appointed Mr. Hardik Vaghasiya as the Chief Financial Officer of the Company due to resignation of existing CFO.
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At its 13 June 2025 board meeting, Adline Chem Lab Ltd accepted the resignation of Mr. Kuldip Parekh as Chief Financial Officer and KMP with immediate effect, and appointed Mr. Hardik Vaghasiya as the new CFO. The board also appointed two new Non-Executive Independent Directors — Mr. Him Vyas and Mr. Krish Patel — and brought in Ms. Akshita Khandelwal as the new Company Secretary, replacing Mrs. Ritu Singh. A new Secretarial Auditor, M/s. Ishit Vyas & Co., was appointed for a 5-year term starting FY 2025-26. Most notably, the board approved a major alteration to the company's main object clause, adding renewable energy (solar plants), engineering & procurement contracting, and commodity trading to its permitted business areas, subject to shareholder approval at the 37th AGM on 11 July 2025.
The simultaneous change in CFO, Company Secretary, and addition of two independent directors is a significant leadership overhaul. More importantly, the proposed object clause change signals a strategic diversification from the legacy chemical business into solar energy and commodity trading — a meaningful business pivot that shareholders should evaluate closely at the upcoming AGM, as it could redefine the company's future revenue mix and risk profile.