Mr. Prafull Makvana, Chief Financial officer and Key Managerial personnel has tenered his Resignation as on 11th May, 2026

Cfo ResignedKmp ResignedManagement Changes View source PDF Explain this filing

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

-1.5%Reaction day

₹48.72

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used-3.1%+1.6% vs market

Industrial Gases peers, median of 5sector-3.8%+2.4% vs sector

On the reaction day the stock moved 1.6 pts more than Nifty Microcap 250 and 2.4 pts more than its Industrial Gases peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

-1.5-3.1+1.6-3.8+2.4

Next day

-1.8-2.4+0.6-4.3+2.5

-1.5-2.2+0.7-4.9+3.4

+1.1-2.5+3.6-4.9+6.0

-1.5-3.8+2.4-6.6+5.2

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-5.6+0.1-5.7-4.8-0.8

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-13.8+7.9-21.7-1.0-12.8

-15.8+10.3-26.1+8.4-24.2

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AI summary

Mr. Prafullbhai Rameshchandra Makvana has tendered his resignation as Chief Financial Officer and Key Managerial Personnel of Hilltone Software and Gases Ltd effective from the close of business hours on 11th May, 2026. The stated reason for resignation is career advancement and relocation. He has confirmed there are no other material reasons for his departure. The company has stated that Mr. Makvana will also cease to be the authorized KMP for determining materiality of events under SEBI regulations. The Managing Director, Mr. Niket Mahendrabhai Shah, has signed and submitted the disclosure to BSE.

Likely market impact

Mid-term resignation of a CFO and KMP may raise governance concerns among investors, as it creates a leadership gap. The stock could face short-term negative sentiment until a replacement is appointed.