The Board of Directors of the Company in their meeting interalia considered and approved the following: 1. Resignation from Mr. Ramesh Hosmane as Chief Financial Officer of the Company ....
Awaiting price reaction for this filing.
The Board of Directors of Filtron Engineers Ltd held a meeting on May 30, 2026 where two key leadership changes were approved. CFO Mr. Ramesh Hosmane resigned citing personal commitment reasons effective close of business on May 30, 2026. The Board immediately appointed Mr. Tarak Bipinchandra Gor as the new CFO effective May 31, 2026. Gor is a Chartered Accountant with 19+ years of experience and notably shares common directorship with Managing Director Jayesh Rawal in multiple entities. The Board also approved the audited financial results for FY2026 - standalone profit of Rs 20.77 lakh vs loss of Rs 29.96 lakh in FY2025, and consolidated profit of Rs 4.15 crore vs loss of Rs 29.96 lakh in FY2025. The company increased its authorized capital to Rs 85 crore and issued 60.9 crore equity shares and 1.92 crore preference shares on preferential basis during the year.
The CFO transition appears orderly with the new appointee having relevant financial expertise, though his business connections with the MD warrant monitoring. Strong financial turnaround with consolidated profit jumping from loss to Rs 4.15 crore is positive for investors. The significant equity dilution from the preferential issue may impact existing shareholders' stake percentages.