Announcement U/Reg_30_ Regarding Resignation of CFO
BEEKAY · price
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Beekay Steel Industries' board met on 14 February 2026 and approved the un-audited financial results for Q3 and nine months ended 31 December 2025. Standalone revenue from operations for 9M FY26 rose to Rs 83,642.23 lakhs from Rs 74,585.03 lakhs a year ago (up ~12%), but profit after tax fell sharply to Rs 5,552.75 lakhs from Rs 8,491.17 lakhs (down ~35%). Q3 standalone profit dropped to Rs 1,324.55 lakhs from Rs 2,248.88 lakhs in the year-ago quarter. Mr. Manav Bansal resigned as CFO to focus on his Whole-time Director role, but will continue on the board. Mr. Ashok Agarwal, a Chartered Accountant with 26+ years of experience (formerly CFO of listed Manaksia Aluminium Company), was appointed as the new CFO on the same date.
The CFO transition is orderly (the outgoing CFO stays on as Whole-time Director and a replacement is named the same day), so governance risk is limited. Investors will likely focus more on the sharp year-on-year decline in profitability despite revenue growth, indicating margin pressure in the steel business.