Appointment of Mr. Dhairya Shah as a Managing Director and Ms. Manali Patel as a Non Executive Director of the Company
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Padmanabh Industries held a board meeting on 22nd July 2025 where three key changes were approved, all effective 23rd July 2025. Mr. Santoshkumar Hardwari resigned from both his roles as Managing Director and Chief Financial Officer, citing pre-occupation elsewhere. To fill these positions, Mr. Dhairya Bharatbhai Shah, a Commerce graduate with marketing experience, was appointed as the new Managing Director for a 5-year term. Additionally, Ms. Manali Rajeshbhai Patel, a Commerce graduate with over 3 years of accounting experience, was appointed as a Non-Executive Additional Director. Both new appointees have no disclosed relationship with existing directors and do not hold directorships in any other listed entity.
This is a significant leadership overhaul at a single board meeting — the company simultaneously lost its MD and CFO and replaced the MD with an external candidate. Shareholders should monitor how smoothly the transition occurs, as losing both top executive roles at once can create short-term governance uncertainty.