Resignation of Mr. Amit Ashok Todkari as Chief Financial Officer (CFO) w.e.f. 25.05.2026 due to personal issues and Appointment of Mr. Sandeep Singh Chadha as Chief Financial Officer (CFO) ....

CFO resignedKey managerial personnel resignedManagement Changes View source PDF Explain this filing

BALUFORGE · price

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Price reactionminutes from the announcement price · days from the prior close

+6.5%Reaction day

₹470.00

prior close

₹476.05

announcement price

After-mkt

timing

Nifty Microcap 250market · index membership as recorded later (tracked since Jun 2026)+0.7%+5.8% vs market

Castings & Forgings peers, median of 22sector+0.2%+6.3% vs sector

On the reaction day the stock moved 5.8 pts more than Nifty Microcap 250 and 6.3 pts more than its Castings & Forgings peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+1.8

10m

+1.2

15m

+1.8

30m

+2.4

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+6.5+0.7+5.8+0.2+6.3

Next day

+6.8+0.7+6.1+1.0+5.8

+2.1+0.0+2.1-1.3+3.4

-4.3-1.1-3.2-1.1-3.1

-0.6+0.0-0.6+1.4-2.0

+2.7+0.3+2.4+0.1+2.6

+1.9+1.1+0.8+2.4-0.5

15d

-5.0+4.9-9.9+4.3-9.3

-3.2+5.3-8.5+6.6-9.8

-6.3+6.9-13.1+9.6-15.9

+35.6+11.9+23.7+14.8+20.9

UpDownMarket · Nifty Microcap 250Sector · Castings & Forgings peers, median of 22Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Mr. Amit Ashok Todkari resigned as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of Balu Forge Industries Ltd effective close of business hours on May 25, 2026, citing personal reasons. The outgoing CFO confirmed there are no material reasons behind the resignation other than personal ones. Mr. Sandeep Singh Chadha, a qualified finance professional with MBA Finance and over 5 years of experience in financial planning, corporate accounting, and regulatory compliance, was appointed as Interim CFO effective May 26, 2026. The company has stated it has begun evaluating both internal and external candidates for the permanent CFO position.

Likely market impact

The resignation and immediate appointment of an interim CFO ensures continuity in financial leadership. However, the temporary nature of the appointment means investors should monitor for the permanent CFO selection. The outgoing CFO's confirmation of no material issues is a positive signal for governance.