Intimation Under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015- Relieving from the post of Chief Financial Officer(CFO) Please find attachment ....
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On the reaction day the stock moved 4.0 pts less than Nifty Microcap 250 and 4.5 pts less than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Shree Steel Wire Ropes Ltd has informed BSE that its Chief Financial Officer, Mr. Sagar P. Desai, has been relieved from the post of CFO and Key Managerial Personnel with effect from 15 April 2025. The intimation was filed under SEBI Listing Regulations, Regulation 30, read with Schedule III, and a relieving letter from the Managing Director has been enclosed. No reason for the departure has been disclosed, and no successor or interim CFO has been named in this filing. The company has not provided any further context regarding whether this was a resignation, termination, or completion of term.
This is a sudden change at the top finance position without a named replacement, which may raise short-term governance concerns among shareholders. Investors should watch for a follow-up announcement appointing a new CFO to assess whether operations and financial reporting will be disrupted.