Company has informed the Exchange about the Appointment and Resignation
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Awaiting price reaction for this filing.
In a sweeping board overhaul on 7 August 2025, Jattashankar Industries saw the entire Poddar family exit from key positions. Mr. Jatta Shanker Poddar resigned as Managing Director and Chairman, Dr. Sharad Poddar resigned as Executive Director, and Mr. Ankur Sharad Poddar resigned as CFO — all citing personal reasons and pre-occupations. Two independent directors, Ms. Richa Sushil Choudhary and Ms. Ruchika Kabra, also stepped down on the same day. To fill these slots, the company appointed Mr. Keval Jayanti Khudai as new Managing Director and Chairman (3-year term, holds 700,000 shares), Mr. Nileshbhai Bhagvanji Bapodara as Whole Time Director (3-year term, holds 721,933 shares), and two new independent directors — Mr. Harsh Pankajkumar Nayak (CA) and Mr. Siddharth Parshottam Gajra (Company Secretary) for 5-year terms. Board committees (Audit, Nomination & Remuneration, Stakeholder Relationship) were also reconstituted. All new appointments are subject to shareholder approval at the next general meeting.
This is essentially a change-of-control event at the company. The outgoing Poddar family has run the company for decades, and the new appointees collectively hold over 14 lakh shares, suggesting new promoter-group entry. Shareholders should watch for the general meeting outcome and any subsequent strategic shifts; the stock may see volatility given the magnitude of leadership change.