Intimation regarding appointment of Chief Financial Officer
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Josts Engineering's board, at its meeting on 24th March 2026, approved selling its 50% stake in the joint venture Suryavayu Renewable and Energy Solutions Pvt Ltd (SRESPL) to Kay Cee Energy & Infra Ltd at ₹4.124 per share. Post this sale, SRESPL will cease to be a joint venture. SRESPL had nil revenue and a net worth of just ₹5 lakh in FY25, making the financial impact minimal. The board also approved incorporating a new wholly owned subsidiary in India (likely to be named Josts Techno Solutions Pvt Ltd) with ₹1 lakh authorised capital to pursue engineered products and services. Additionally, CFO Mr. Pranesh Bhandari will resign effective 31st March 2026, and Mr. K C Somani, a chartered accountant with over 40 years of experience at JSW Steels and Ispat Group, will take over as CFO from 1st April 2026.
These are housekeeping-level corporate actions with negligible financial impact — the JV being exited had no revenue contribution and the new subsidiary has only ₹1 lakh capital. The CFO transition brings in a seasoned finance professional, which is mildly positive for governance, but none of these items are likely to materially move the stock.