Omax Autos Limited has informed the Exchange regarding Resignation of Mr Devashish Mehta as Chief Financial Officer of the company w.e.f. July 24, 2025.
OMAXAUTO · price
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Omax Autos reported its Q1 FY26 (quarter ended June 30, 2025) unaudited results, with revenue from operations rising to Rs. 9,963.65 lakhs from Rs. 8,420.18 lakhs in the same quarter last year, a healthy year-on-year growth. The auditor issued an unmodified limited review opinion. The Board recommended a final dividend of Rs. 2.5 (25%) per equity share for FY 2024-25, with the record date set as August 22, 2025 and AGM on August 29, 2025. In a key leadership change, Mr. Devashish Mehta resigned as Chief Financial Officer effective July 24, 2025 (he continues as Managing Director), and was replaced by Mr. Sanjeev Kumar, who is the son of Vice Chairman & Managing Director Mr. Jatender Kumar Mehta. The Board also re-appointed several directors, changed the designation of Mrs. Sakshi Kaura (another promoter family member) from Managing Director to Non-Executive, Non-Independent Director, and re-appointed the cost auditors and appointed new secretarial auditors for 5 years.
Strong revenue growth in Q1 FY26 and a 25% dividend signal healthy operations, but the CFO transition is significant as the new CFO is a member of the promoter Mehta family, which may raise corporate governance concerns among minority shareholders. Investors should watch for continuity in financial reporting and any related-party disclosures in upcoming quarters.