Major overhaul: MD and CFO resign, company pivots to green fuels

Board on July 15, 2026 approved sweeping changes. Managing Director Hemantbhai Raval and Director/CFO Akash Parmar both resigned citing personal and professional reasons. Ravikumar Patel, a second-generation entrepreneur from a Gujarat business family, appointed as new Managing Director for 3 years. Purvikkumar Patel named Executive Director and CFO. Statutory Auditor DD Shah Patel and Co. quit mid-term citing capacity constraints; J M Patel and Bros. appointed as new auditor for 5 years (FY2026-27 to FY2030-31). The company is altering its objects clause to shift away from chemicals and into renewable energy including Compressed Bio-Gas, Bio-CNG, Hydrogen, biodiesel and ethanol. AGM set for August 10, 2026 for shareholder approvals.