Appointment of CFO

Management Changes View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

-1.8%Reaction day

₹2086.20

prior close

₹2050.00

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.6%-2.4% vs market

Industrial Products peers, median of 116sector-0.1%-1.7% vs sector

On the reaction day the stock moved 2.4 pts less than Nifty Microcap 250 and 1.7 pts less than its Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Reaction day

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UpDownMarket · Nifty Microcap 250Sector · Industrial Products peers, median of 116Pending

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AI summary

Stovec Industries' board, at its meeting on November 14, 2025, approved unaudited financial results showing a sharp sequential and year-on-year decline. Q2 FY26 revenue from operations fell to ₹406.62 million (vs ₹567.54 million in Q1 FY26 and ₹573.69 million in Q2 FY25), with profit after tax at ₹11.97 million (vs ₹30.89 million YoY). For the nine months ended September 30, 2025, revenue dropped to ₹1,466.92 million from ₹1,765.49 million a year ago, while PAT fell to ₹67.34 million from ₹114.30 million; EPS stood at ₹32.25 versus ₹54.74. The board appointed Mr. Gaurav Amrutiya (19+ years of finance experience across manufacturing, automotive, and EV battery sectors, ICAI Fellow, IIM Calcutta alumnus) as the new CFO and KMP with effect from November 14, 2025. Mr. Vipul Bhavsar, who was serving as Interim CFO, has been relieved from that role and will continue as Sr. Manager-Finance. Additionally, Mr. Eiko Ris, a non-executive non-independent director (representing parent SPGPrints B.V.), resigned from the board effective the same day.

Likely market impact

The steep drop in both quarterly and nine-month revenue and profits is a negative signal that could pressure the stock in the short term, while the appointment of a permanent CFO brings leadership stability to the finance function. The director resignation appears to be a routine change tied to the foreign parent and is not a governance red flag.