Asahi Songwon Colors Limited has informed the Exchange regarding Appointment of Mr. Gokul Jaykrishna as Managing Director of the company w.e.f. May 26, 2026.
ASAHISONG · price
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On the reaction day the stock moved 7.0 pts more than Nifty Microcap 250 and 7.1 pts more than its Dyes And Pigments peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The company reported FY2026 standalone net profit of Rs 224.56 crores (down from Rs 254.89 crores in FY2025), with consolidated net profit of Rs 177.79 crores. Revenue from operations on standalone basis stood at Rs 3,441.39 crores for the year. The Board recommended a final dividend of Rs 1.50 per share (15%) for FY2026, subject to shareholder approval. Leadership changes include: Mr. Gokul Mrugesh Jaykrishna stepped down as CEO (effective May 26, 2026) and Mr. Arjun Gokul Jaykrishna appointed as new CEO (effective May 27, 2026). Mrs. Paru Jaykrishna and Mr. Gokul Jaykrishna were re-appointed as Managing Directors for 3 years from August 1, 2026. Additionally, Mr. Pratik Shah resigned as CFO (effective April 9, 2026) and Mr. Sudhin Choksey resigned as Independent Director (effective April 4, 2026).
The dual departure of both CEO and CFO within weeks raises governance concerns, though succession appears to be within the promoter family (Jaykrishna family). The decline in annual profits may weigh on investor sentiment, while the dividend offer provides some support.