Mr.S.Shafiulla shall cease to be the CFO of the Company on attaining the age of retirement effective from closing business hours of June 19, 2026.
VISAKAIND · price
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Visaka Industries reported strong FY2026 results with net profit of Rs. 8,783.24 lakhs, a dramatic recovery from Rs. 14.38 lakhs in FY2025, driven by exceptional gains of Rs. 5,970.33 lakhs from land sales in Ahmedabad and Kanchipuram. Revenue from operations grew 8.7% to Rs. 1,67,558.66 lakhs. The Board recommended a final dividend of Rs. 1.20 per share (60%). In key leadership changes, Mr. S. Shafiulla retired as CFO effective June 19, 2026, and Mr. Ramakrishna Pendyala, a qualified CA/CMA/CPA with 21+ years of experience including CFO roles at Stove Kraft and Hical Technologies, was appointed as new CFO effective June 20, 2026. The 44th AGM is scheduled for July 30, 2026.
The leadership transition at CFO level appears smooth with a qualified successor appointed a day after retirement. The exceptional gains significantly boosted profits, though investors should note the underlying operational performance improvement for sustainable valuation.