Gokul Refoils and Solvent Limited has informed the Exchange about change in Management
GOKUL · price
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Gokul Refoils and Solvent Limited's board, at its May 28, 2025 meeting, approved audited financial results for Q4 and FY ended March 31, 2025 with an unmodified opinion from statutory auditors M.R. Pandhi & Associates. Chairman and Non-Executive Director Mr. Balvantsingh Rajput (the founder, 32 years with the company) and CEO Mr. Praveen Kumar Khandelwal both resigned effective May 31, 2025, citing personal reasons. Current CFO Shaunak Mandalia has been elevated to CEO and Executive Director effective June 1, 2025, subject to shareholder approval. Mr. Arjunsinh Rajput (likely from the promoter family) was appointed as Additional Executive Director, and Mr. Samkit Parikh was named the new CFO. The board also appointed Agarwal & Mehta Company Secretaries LLP as Secretarial Auditors for five years (FY26-FY30) and re-appointed Mr. Ahijit Dey as Internal Auditor.
The transition appears orderly with a clear succession plan in place, and the appointment of a Rajput family member as Executive Director signals continued promoter control, which may reassure shareholders. No governance red flags were flagged, and auditor continuity with an unmodified opinion supports financial credibility. Short-term stock impact is likely neutral barring any deeper concerns in the FY25 numbers.