Announcement under Regulation 30 - Appointment of Chief Financial Officer (Interim)
SUDARCOLOR · price
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Sudarshan Colorants India Limited's Board of Directors met on May 11, 2026 and approved multiple items. The Board appointed Mr. Nilkanth Natu as Chief Financial Officer (Interim) effective immediately, following the resignation of Mr. Jugal Sahu who left on March 9, 2026. The company also appointed PricewaterhouseCoopers Services LLP (PwC) as its internal auditor for FY 2026-27. For the financial year ended March 2026, the company reported total income of Rs 807.47 crores (down from Rs 843.83 crores), net profit of Rs 44.53 crores (down from Rs 51.45 crores), and EPS of Rs 19.29 per share (down from Rs 22.29). The auditor issued an unmodified opinion on the financial statements. The Board also updated authorization for materiality disclosures under Regulation 30(5), adding the new CFO as a Key Managerial Personnel.
The appointment of an interim CFO after the previous CFO's resignation in March 2026 fills a critical leadership gap in the finance function. The company's financial performance showed a decline in revenue and profitability compared to the previous year, which may be a concern for investors. The switch to PwC as internal auditor signals enhanced focus on internal controls and governance.