Stove Kraft Limited has informed the Exchange about Resignation of Director/KMP/SMP
STOVEKRAFT · price
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Stove Kraft Limited announced the resignation of Mr. Ramakrishna Pendyala as Chief Financial Officer (CFO), effective 12 May 2026 with his last working day on 15 May 2026. The company simultaneously appointed Mr. Subhadeep Pal, currently VP-Finance, as the new CFO from 16 May 2026. Mr. Pendyala cited career growth objectives as the reason for his departure after serving approximately three years since July 2023. The board also approved the audited financial results for FY2026 showing revenue of Rs. 16,074.24 million (up 11% YoY), profit after tax of Rs. 419.91 million (up 9% YoY), and recommended a final dividend of Rs. 3.50 per share. Additionally, the ESOP pool was increased from 813,000 to 10,25,000 options.
The CFO transition appears smooth as Mr. Subhadeep Pal is an internal promotion with 23 years of finance experience, minimizing execution risk. The financial results show healthy growth with 11% revenue increase and improved profitability, which is positive for shareholders.