Resignation of Chief Financial Officer of the Company
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Mr. Nilesh Shah has resigned as the Chief Financial Officer of Panchmahal Steel Ltd, citing personal reasons. He will be relieved from his duties effective from the close of business hours on March 5, 2026. His resignation letter dated February 16, 2026 confirms there are no other reasons for his exit. The company has stated it has begun the process of appointing a new CFO and will update the stock exchange in due course.
This is a Key Managerial Personnel change that may create short-term uncertainty at the finance leadership level. However, the reason cited is personal and the company has already begun a search for a replacement, which should limit any prolonged disruption.