CEO Jayesh Ashar resigns; Mangesh Sarfare takes over from December 1

CEO resignedKey managerial personnel resignedDirector resignedManagement Changes View source PDF Explain this filing

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

+3.3%Reaction day

₹66.03

prior close

₹68.01

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+1.1%+2.2% vs market

Packaging peers, median of 64sector+1.2%+2.1% vs sector

On the reaction day the stock moved 2.2 pts more than Nifty Microcap 250 and 2.1 pts more than its Packaging 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

Stock

+1.7

10m

+1.7

15m

+1.7

30m

+2.2

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+3.3+1.1+2.2+1.2+2.1

Next day

+1.8pendingpending-0.4+2.2

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15d

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UpDownMarket · Nifty Microcap 250Sector · Packaging peers, median of 64Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Jayesh Ashar will step down as CEO on November 30, 2026 due to family commitments. Mangesh Sarfare, a non-executive director, will leave the board and become CEO for two years from December 1, 2026. Standalone Q2 revenue rose 19% to Rs 14,851.72 lakh and profit after tax rose to Rs 849.00 lakh. H1 revenue rose 38% to Rs 27,289.74 lakh and profit after tax rose 22% to Rs 1,503.38 lakh. The Bhuj plant started commercial production.

Likely market impact

Internal succession limits disruption. H1 revenue and profit rose, while the Bhuj plant may add about Rs 100 crore in annual revenue.