Retirement of Mr. M. B. Raghunath, Chief Executive Officer (CEO) of the Company w.e.f. 31st May, 2026 on attaining the age of 60 years.
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Mafatlal Industries announced the retirement of CEO Mr. M. B. Raghunath effective May 31, 2026 after over three decades of service. The board simultaneously appointed Mr. Priyavrata H. Mafatlal, son of Executive Chairman Mr. Hrishikesh A. Mafatlal, as the new CEO in addition to his existing Managing Director role for a 3-year term starting June 1, 2026. The board also approved audited FY2025-26 standalone financial results showing revenue of Rs. 3,870.44 crore and profit after tax of Rs. 91.07 crore, with EPS of Rs. 12.64. A final dividend of Rs. 1.25 per share (62.5% on face value) was recommended. Additionally, Mr. Hrishikesh A. Mafatlal was re-appointed as Executive Director for two more years from November 2026.
The CEO transition represents a planned succession with the founder CEO stepping down and being replaced by a family member already in senior leadership, which ensures continuity but raises governance concerns about concentration of power within the promoter family.