Resignation of Mrs. Geetha Manjari as Chief Financial Officer w.e.f 10.03.2026 and Appointment of Mr. Venkatesan N as the Chief Financial Officer w.e.f 11.03.2026

CFO resignedKey managerial personnel resignedManagement Changes View source PDF Explain this filing

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Nifty Microcap 250market · in no size index; the smallest one is used+2.4%+1.2% vs market

Auto Components & Equipments peers, median of 111sector+2.0%+1.6% vs sector

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AI summary

The board of LGB Forge accepted the resignation of CFO Geetha Manjari effective end of day on March 10, 2026, citing personal reasons (she mentions reaching superannuation age). The very next day, March 11, 2026, the board appointed Venkatesan N as the new CFO, a senior finance professional with over 25 years of experience in accounting, costing, working capital, audit, and taxation. Separately, the board approved selling a non-core land parcel of about 8.04 acres at Kallapalayam Village, Coimbatore, to M/s. LGB Educational Foundation — a trust linked to the promoter group — for roughly Rs. 12 crore, expected to be completed by September 30, 2026. Because the buyer is a related party, the company will seek shareholder approval via a postal ballot. The proceeds are intended for working capital needs.

Likely market impact

The CFO transition looks routine and orderly, with an experienced replacement in place, so it is unlikely to materially move the stock. The land sale to a promoter-group trust at around Rs. 12 crore is a related-party transaction and may draw governance scrutiny, even though the company states the price will be at arm's length based on an independent valuation.