MD Prakash Parekh also appointed as CFO; new internal auditor named

Management Changes View source PDF Explain this filing

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₹342.45

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Nifty Microcap 250market · in no size index; the smallest one is used+0.2%+1.4% vs market

Packaging peers, median of 61sector-0.5%+2.1% vs sector

On the reaction day the stock moved 1.4 pts more than Nifty Microcap 250 and 2.1 pts more than its Packaging peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

At its Oct 12, 2026 board meeting, HCP Plastene Bulkpack appointed its existing Managing Director and Promoter, Mr. Prakash Hiralal Parekh, as Chief Financial Officer with immediate effect. He is a chemical engineering graduate with about 23 years in the plastic industry. The board also appointed M/s. Nirav Patel and Associates, an Ahmedabad-based chartered accountancy firm, as Internal Auditor for FY 2026-27. The filing does not mention any prior CFO resignation.

Likely market impact

Combining MD and CFO roles in one person may raise governance concerns. Internal auditor change is routine.