Announcement under Regulation 30 (LODR)-Resignation of Chief Financial Officer (CFO)
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On the reaction day the stock moved 1.8 pts more than Nifty Microcap 250 and 2.3 pts more than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Mrugesh Trading Ltd announced that Mr. Arpit Piyushbhai Shah has resigned from both his positions as Managing Director and Chief Financial Officer with effect from 20th February 2026, citing personal reasons and an inability to devote time to the company's affairs. Mr. Babubhai Bhalabhai Makwana has been appointed as the new Managing Director and Chief Financial Officer on the same date. Mr. Makwana brings over 15 years of experience in business management, accounting, financial reporting, budgeting, and compliance, and is not related to any existing director on the board. The changes were approved at a board meeting held on 20th February 2026 from 5:00 PM to 6:00 PM. Mr. Shah confirmed there are no other material reasons behind his departure beyond personal ones.
The simultaneous exit of the Managing Director and CFO, followed by an immediate replacement, may create short-term governance uncertainty for shareholders. However, the quick appointment of a single individual to both top roles suggests continuity in leadership, though it concentrates significant decision-making power in one person, which investors may want to monitor.