Mr. Vipul Bhavsar who was appointed as an interim CFO is relieved from the responsibilities of interim CFO of the Company with immediate effect subsequent to the appointment and assumption ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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.
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Stovec Industries' Board met on November 14, 2025 and approved weak Q2 FY26 results — revenue from operations fell to ₹406.62 million from ₹573.69 million a year earlier, while net profit dropped sharply to ₹11.97 million from ₹30.89 million. For the nine months ended September 2025, revenue declined to ₹1,466.92 million (vs ₹1,765.49 million) and profit fell to ₹67.34 million (vs ₹114.30 million), with EPS at ₹32.25 versus ₹54.74 last year. Mr. Gaurav Amrutiya was appointed as the new Chief Financial Officer and Key Managerial Personnel, replacing interim CFO Mr. Vipul Bhavsar, who will continue as Senior Manager – Finance. Additionally, Mr. Eiko Ris, a non-executive non-independent director (representing Dutch parent SPGPrints B.V.), resigned from the Board and all board committees effective the same day. The Statutory Auditor Price Waterhouse issued an unmodified limited review report on the results.
The sharp year-on-year decline in both revenue (~29% in Q2, ~17% in 9M) and profits (~61% in Q2, ~41% in 9M) is a clear negative signal and may pressure the stock in the near term. The CFO transition appears orderly, but the resignation of the parent-group director is worth monitoring as it could hint at changes within the Dutch parent's strategy for its Indian subsidiary.