Please find the enclosed disclosure for the resignation of CFO and appointment of CFO.
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Vikram Thermo India's board, meeting on 26 May 2025, accepted the resignation of CFO Mr. Motibhai Devabhai Fosi due to personal reasons, effective the same day. Mrs. Switi Patel, a Chartered Accountant with over 9.5 years of experience in accounting, taxation, and financial management, was appointed as the new CFO. The board also approved audited financial results for Q4 and FY ended 31 March 2025 and recommended a final dividend of 10% (Rs. 1 per share on Rs. 10 face value). Additionally, new internal and secretarial auditors were appointed, and remuneration for several directors including the Managing Director was hiked by 10%.
The CFO change is routine with a qualified replacement, but investors should note the simultaneous 10% hike in remuneration for promoter-family directors (Dhirajlal, Ankur, and Dinesh Patel) along with a Rs. 1 per share dividend announcement.