Magadh Sugar & Energy Limited has informed the Exchange regarding Cessation of Mr Manoj Prasad as Chief Financial Officer of the company w.e.f. August 05, 2025.
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Magadh Sugar & Energy announced a change in its Chief Financial Officer on August 5, 2025. Mr Manoj Prasad resigned as CFO and Key Managerial Personnel to take up the role of Vice President (Finance) at the company's Hasanpur Unit. Mr Aditya Baheti, a Chartered Accountant with over 15 years of finance experience, was appointed as the new CFO effective August 6, 2025. The board also approved the unaudited Q1 FY26 results, showing revenue from operations of Rs 33,304 lakhs (down from Rs 35,939 lakhs in Q1 FY25) and a sharp drop in net profit to Rs 22.24 lakhs (vs Rs 1,142.52 lakhs last year). The weak Q1 numbers are typical for the sugar industry, as sugarcane crushing happens between November and April, with sales spread across the year.
The CFO transition appears smooth and internal, with no governance red flags as the outgoing CFO continues in another finance role. The weak Q1 profit is seasonal and not unusual for sugar companies, so it is unlikely to materially impact the stock. Investors should watch how the distillery and co-generation segments perform during the peak sugar season.