Appointment and Resignation of Chief Financial Officer
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New Markets Advisory Limited (BSE: 508867) held a board meeting on August 14, 2025, where it accepted the resignation of Mr. Kishore Kanhiyalal Jain as Chief Financial Officer, citing pre-occupation. Mr. Jain will continue in his role as Whole Time Director of the company. The board simultaneously appointed Mr. Jayesh Ramchandra Patil, a commerce graduate with over 20 years of experience in finance, accounts, audit, and taxation, as the new CFO with effect from the same date. Separately, the board approved unaudited financial results for Q1 FY26 (quarter ended June 30, 2025), with statutory auditors issuing an unmodified review opinion.
The CFO transition appears smooth and orderly, with the outgoing CFO retaining a board seat and an experienced finance professional taking over. No governance red flags are evident, and shareholders should focus on the strong operational turnaround — total revenue jumped to Rs. 16.95 lakhs from Rs. 0.75 lakhs year-on-year, and the company swung to a profit of Rs. 1.64 lakhs versus a loss of Rs. 2.08 lakhs in the same quarter last year.