Asahi Songwon Colors Limited has informed the Exchange regarding Resignation of Mr. Gokul M. Jaykrishna as Chief Executive Officer of the company w.e.f. May 26, 2026.
ASAHISONG · price
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Asahi Songwon Colors reported multiple leadership changes at its May 26, 2026 board meeting. Mr. Gokul Mrugesh Jaykrishna stepped down as CEO but continues as Managing Director (reappointed for 3 years from August 1, 2026), with his son Mr. Arjun Gokul Jaykrishna appointed as the new CEO effective May 27, 2026. Mrs. Paru Mrugesh Jaykrishna was also reappointed as Chairperson & Managing Director for 3 years. Separately, Mr. Pratik Shah resigned as CFO (effective April 9, 2026) and Mr. Sudhin Choksey resigned as Independent Director (effective April 4, 2026). The company also reconstituted its Audit, Nomination & Remuneration, and Risk Management committees. Financially, standalone FY2026 revenue declined to Rs. 34,413.90 lakhs (vs Rs. 39,022.47 lakhs in FY2025) with net profit of Rs. 2,245.63 lakhs (vs Rs. 2,548.87 lakhs). Consolidated revenue stood at Rs. 54,218.02 lakhs with net profit of Rs. 1,777.88 lakhs. The board recommended a final dividend of Rs. 1.50 per share.
The CEO-to-son transition within the promoter family and CFO vacancy (as of April 2026) raise governance concerns for investors. The company also reported lower annual revenues and profits compared to the prior year, indicating operational headwinds.