CFO of subsidiary commits Rs 20 crore fraud; terminated

Fraud confirmedRegulatory & Legal View source PDF Explain this filing

KAJARIACER · price

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

+0.0%Reaction day

₹1048.00

prior close

₹1035.00

announcement price

After-mkt

timing

Nifty Smallcap 250market · index membership as recorded later (tracked since Jun 2026)+1.0%-1.0% vs market

Ceramics peers, median of 9sector+0.7%-0.7% vs sector

On the reaction day the stock moved 1.0 pts less than Nifty Smallcap 250 and 0.7 pts less than its Ceramics peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+3.0

10m

+2.9

15m

+2.8

30m

+3.2

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+0.0+1.0-1.0+0.7-0.7

Next day

-3.0+1.4-4.4+1.4-4.5

-7.0+1.4-8.5+1.6-8.6

-6.8+1.3-8.1+0.9-7.7

-7.9+0.7-8.6+0.2-8.1

-7.6+0.5-8.1+4.0-11.6

-7.9+1.6-9.5+1.2-9.1

15d

-5.1-1.2-3.9-2.0-3.2

-5.1-4.8-0.2-4.6-0.5

-5.4-2.3-3.1-2.8-2.6

-15.0-13.3-1.7-17.1+2.1

UpDownMarket · Nifty Smallcap 250Sector · Ceramics peers, median of 9Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Kajaria Ceramics reported that the CFO of its wholly-owned subsidiary Kajaria Bathware Private Limited, Mr. Dilip Kumar Maliwal, committed fraud by embezzling and siphoning about Rs 20 crores from Kerovit Global, a step-down subsidiary. The fraud occurred over the past two years. A complaint has been filed with Delhi Police Economic Offence Wing and the CFO has been terminated. The company said the board committee will review internal safeguards.

Likely market impact

About Rs 20 crore loss at the subsidiary level; limited direct hit on parent but may dent sentiment and invite scrutiny of internal controls.