Grand Foundry Limited has informed the Exchange regarding Outcome of Board Meeting held on January 05, 2026.
Awaiting price reaction for this filing.
Grand Foundry Limited announced sweeping changes to its board on January 5, 2026. The CEO Mr. Ashish Kumar and CFO Ms. Shivani Jain resigned, citing pre-occupation, along with three independent directors (Rajat Kasliwal, Rahul Bhardwaj, Rahul Sharma) and one non-executive director (Shefali Kesarwani). To fill the gaps, Mr. Gaurav Goyal was appointed as Managing Director for a 5-year term, Mr. Rakesh Kumar Bansal as Executive Director, and Mr. Saurabh Goyal as Non-Executive Director — these three are related (two brothers and a maternal uncle), indicating a promoter family takeover of the board. Three new independent directors (Dr. Reena Sharma, Ms. Shilpi Soni, Ms. Aishwarya Singhvi) were also inducted. Nitin Gupta was named the new CFO and Sonia Arora as Company Secretary. The company also shifted its registered office to BKC Bandra East and moved its books of accounts to Moti Nagar, New Delhi.
The simultaneous exit of the CEO, CFO, three independent directors, and entry of a promoter family group signals a major change in control and management at Grand Foundry. Shareholders should watch for governance concerns and strategic direction shifts once the new family-led management takes charge.