Magadh Sugar & Energy Limited has informed the Exchange about change in Management
MAGADSUGAR · price
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Magadh Sugar & Energy announced two key developments on August 5, 2025. First, Mr. Manoj Prasad resigned as Chief Financial Officer and Key Managerial Personnel effective close of business hours on August 5, 2025, to focus on operational financial matters at the Hasanpur unit, where he will continue as Vice President (Finance). Second, Mr. Aditya Baheti, a Chartered Accountant with over 15 years of experience in accounting and finance, has been appointed as the new CFO and KMP effective August 6, 2025. The Board also approved unaudited Q1 FY26 results showing revenue from operations of Rs 33,304 lakhs (down 7.3% YoY) and a sharp drop in net profit to Rs 22.24 lakhs (vs Rs 1,142.52 lakhs in Q1 FY25). The sugar segment contributed Rs 30,081 lakhs in revenue while the distillery segment brought in Rs 7,149 lakhs.
The CFO transition appears orderly and internal, with the outgoing CFO staying within the company in a different role. However, Q1 results are very weak with profits nearly wiped out compared to last year, likely due to seasonal factors and lower sugar segment earnings, which may concern short-term investors despite the stable management continuity.