MD and CFO resign; new MD and CFO appointed

Ceo ResignedCfo ResignedCeo Appointed ExternalKmp ResignedManagement Changes View source PDF Explain this filing

Price

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

-1.0%Reaction day

₹0.97

prior close

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announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.3%-1.3% vs market

Non Banking Financial Company (NBFC) peers, median of 215sector+0.4%-1.5% vs sector

On the reaction day the stock moved 1.3 pts less than Nifty Microcap 250 and 1.5 pts less than its Non Banking Financial Company (NBFC) 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

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15m

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30m

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Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.0+0.3-1.3+0.4-1.5

Next day

+3.1+1.1+2.0+0.1+3.0

+8.2+1.3+6.9+1.2+7.0

+11.3+2.0+9.3+1.3+10.1

+5.2+0.3+4.8+0.7+4.4

+4.1+1.1+3.1+0.5+3.6

-4.1-3.2-0.9-1.4-2.7

15d

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UpDownMarket · Nifty Microcap 250Sector · Non Banking Financial Company (NBFC) peers, median of 215Pending

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

AI summary

On 8 Oct 2026, Mr. Ketankumar Gosai resigned as Managing Director and CFO, citing pre-occupation with other professional work. The Board appointed Mr. Satish Kalmaste as the new MD for five years (subject to shareholder approval) and as CFO on the same day. Mr. Kalmaste has a B.Com degree and 11 years of experience in accounts, finance, and income tax. Board committees were also reconstituted.

Likely market impact

Smooth top-level transition with no governance concerns flagged. One person now holds both MD and CFO roles pending shareholder approval.