Akums Drugs and Pharmaceuticals Limited has informed the Exchange about General Updates_Resignation of Mr. Amrut Medhekar, CEO-CDMO w.e.f 15.07.2025
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Akums Drugs informed the exchanges that its board has accepted the resignation of Mr. Amrut Medhekar, CEO-CDMO (Chief Executive Officer – Contract Development and Manufacturing Organization), effective July 15, 2025. The resignation letter with reasons was attached to the filing. In the same board meeting held on May 26, 2025, the company also approved its audited standalone and consolidated financial results for FY25. On a standalone basis, Akums swung from a Rs 1,654.51 million loss in FY24 to a net profit of Rs 1,609.98 million in FY25, with revenue dipping to Rs 14,359.76 million from Rs 15,382.40 million. The board also re-appointed the cost auditor and appointed a new secretarial auditor for FY25-29. The 21st AGM is scheduled for July 18, 2025.
The exit of the CEO-CDMO, who leads a key business vertical, may raise short-term governance concerns for investors even though it takes effect nearly two months later. Separately, the FY25 turnaround to profit is positive, but the auditor has flagged an ongoing Income Tax search and seizure (Jan 15-21, 2025) at the company's offices and key managerial personnel's residences, whose outcome remains uncertain and could weigh on the stock.