The Board of Directors in their meeting held today i.e. 11th June, 2025 considered and approved the Change in Management as disclosed herewith.
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On June 11, 2025, the board approved a major management reshuffle. Sandeep Makkad stepped down as Managing Director and CFO, moving to a Non-Executive Director role due to work pressures. Mrs. Himanshi Sharma, an existing Additional Director with 8+ years in accounting and finance, was elevated to Managing Director and additionally appointed as CFO. Suraj Prakash Goel was redesignated from Non-Executive to Executive Director. Gurcharan Lal Makkad (80 years old) resigned as Director citing health reasons. The company also proposed renaming itself from 'New Light Apparels Limited' to 'New Light Industries Limited' and altered its MOA to include new business areas such as electrical/electronic products, electric vehicles (EVs), and expanded textile operations. New Secretarial Auditor (M/s. Sumit Bajaj & Associates) and re-appointed Internal Auditor (M/s. Sahil Gambhir & Associates) for FY 2025-26 were also approved.
For shareholders, this signals a significant strategic pivot - the company is repositioning from a pure apparel business to a diversified 'industries' entity with entry into EVs, electronics, and electrical appliances, which could expand growth avenues but also raises execution risk. The consolidation of MD and CFO roles in one person (Himanshi Sharma) concentrates decision-making power, which investors should monitor for governance implications.