Appointment of Mr. Sanjeev Kumar as Chief Financial Officer of the Company.
OMAXAUTO · price
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Omax Autos announced a CFO change at its July 24, 2025 board meeting. Mr. Devashish Mehta resigned as CFO (effective July 24, 2025) citing professional reasons, but continues as Managing Director. Mr. Sanjeev Kumar, a qualified CMA and MBA with two decades of finance experience at companies like Jakson Engineers, Munjal Auto and Minda Corporation, was appointed as the new CFO effective July 25, 2025. Notably, he is the son of Vice Chairman Mr. Jatender Kumar Mehta and brother of Non-Executive Director Mrs. Sakshi Kaura. The board also approved Q1 FY26 results showing revenue from operations of ₹9,963.65 lakhs (down from ₹11,419.89 lakhs YoY) and profit of ₹566.28 lakhs (slightly lower than ₹574.15 lakhs in Q1 FY25). A final dividend of ₹2.5 (25%) per share for FY25 was recommended, with August 22, 2025 set as the record date. Several directors were also re-appointed, and Mrs. Sakshi Kaura's designation was changed from Managing Director to Non-Executive, Non-Independent Director.
The new CFO being a member of the promoter family (son of the Vice Chairman) may raise governance concerns among some investors, though his prior industry experience at the company and others is reassuring. The decline in Q1 revenue is a mild negative, though profit remained largely stable. The 25% final dividend is a positive for income-focused shareholders.