Announcement under regulation 30 (LODR)-Change in Directorate
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Mrugesh Trading Ltd announced a complete top-management change on 20 February 2026. Mr. Arpit Piyushbhai Shah resigned from the posts of Managing Director and Chief Financial Officer, citing personal reasons and stating no other material reasons for his exit. In his place, Mr. Babubhai Bhalabhai Makwana, a professional with over 15 years of experience in business management, accounting, and financial reporting, has been appointed as the new Managing Director and CFO with immediate effect. The company has confirmed that Makwana is not related to any existing director on the board. The changes were approved at a board meeting held the same day, which ran from 5:00 PM to 6:00 PM.
Both the MD and CFO roles have been vacated and filled by a single new appointee in one sitting, which is a significant leadership shuffle for a small-cap trading company. While no governance concerns have been flagged and the reasons cited are personal, shareholders should watch for continuity in financial reporting and operations under the new leadership.