Indbank Merchant Banking Services Limited has informed the Exchange regarding Appointment of Mr Balaji MS as Chief Financial Officer of the company w.e.f. July 19, 2025.
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Indbank Merchant Banking Services, a subsidiary of Indian Bank, announced that CFO Tausif Inamdar has resigned effective July 18, 2025, due to repatriation to the parent Indian Bank. In his place, Mr. Balaji MS, currently a Senior Manager at Indian Bank, has been appointed as the new CFO effective July 19, 2025. Balaji is a Mechanical Engineering graduate with an MBA in Finance and has been with Indian Bank since 2013, also having prior service in the Indian Air Force. The board also approved Q1 FY26 unaudited results showing total income of Rs. 531.28 lakhs (down from Rs. 771.42 lakhs YoY) and profit after tax of Rs. 105.86 lakhs (down from Rs. 281.77 lakhs YoY). EPS for the quarter stood at Rs. 0.26 vs Rs. 0.64 in the same quarter last year. The 36th AGM has been scheduled for September 18, 2025 via video conferencing.
The CFO transition is smooth and internal-friendly, with the new appointee coming from the parent Indian Bank, ensuring continuity. However, the sharp YoY decline in both revenue and profit in Q1 FY26 may raise concerns about near-term earnings momentum.