Reappointment of Managing Director
Awaiting price reaction for this filing.
Aditya Forge's board, meeting on September 3, 2025, approved the reappointment of promoter Mr. Nitin Rasiklal Parekh as Managing Director for a fresh 5-year term (Sept 2025 to Sept 2030). Mr. Parekh holds 6,63,900 shares in the company and has 33+ years of experience in forging. More significantly, the board approved a major change to the company's main object clause, proposing to shift its core business from manufacturing forged flanges and pipe fittings to real estate development, construction, infrastructure, and cement manufacturing. The 32nd Annual General Meeting has been scheduled for September 30, 2025, to seek shareholder approval for these changes. NSDL was appointed as the e-voting agency and a scrutinizer was named for the AGM process.
This is a transformational shift — the company is moving away from its decades-old forging business into real estate and infrastructure, which could materially change its risk profile and earnings stream. Existing shareholders should carefully review the rationale and implications before voting at the AGM, as the new direction is very different from the company's stated expertise.