Change in Designation of Mr. Arun Agarwal from Non Executive Non Independent Director to Managing Director.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Kisan Mouldings saw major leadership changes at its May 5, 2026 board meeting. Mr. Sanjeev Amarnath Aggarwal resigned as Chairman and Managing Director citing preoccupation in other assignments, effective close of business on May 5, 2026. Independent Director Mr. Sunil Agarwal also resigned due to other professional commitments and stepped down from the Audit Committee. Both statutory auditors (Sen & Ray) and secretarial auditors (Nidhi Bajaj & Associates) also resigned. In response, the Board appointed Mr. Arun Agarwal (currently a Non-Executive Non-Independent Director and a Chartered Accountant with 25+ years of experience) as Managing Director for 3 years effective June 1, 2026, subject to shareholder approval. Mr. Ranveer Kumar was appointed as Company Secretary and KMP. New auditors were appointed including AKGVG & Associates as statutory auditors. Financially, the company reported FY2026 standalone revenue of Rs 24,932.65 lakhs with a loss before tax of Rs 738.35 lakhs, compared to profit of Rs 346.62 lakhs in FY2025. Consolidated loss was Rs 741.89 lakhs.
The simultaneous resignation of the CMD, independent director, and both auditors signals significant governance disruption. The appointment of Arun Agarwal (who also serves as Joint MD at Apollo Pipes Limited) as the new Managing Director provides continuity but raises questions about potential concentration of power given multiple departures.