Intimation for Change of KMP and Directorate of the Company.
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Mr. Vibhu Maurya resigned from the positions of Managing Director and CFO on July 23, 2025, citing personal reasons and other pre-occupations. Mr. Shibhu Maurya, who is the brother of the outgoing MD (and a promoter family member), has been appointed as Managing Director for a 5-year term (subject to shareholder approval). Mr. Ronik Sharma was appointed as the new CFO on the same date. The Audit Committee was also reconstituted following these changes.
The MD and CFO exits in a single day can create short-term uncertainty, but the company has already filled both positions, including a family member of the promoter as the new MD. Shareholders should watch for continuity in strategy and any governance concerns from a family-led leadership transition.