ZUARI INDUSTRIES LIMITED has informed the Exchange regarding Appointment of Mr Jatin Jain as Chief Financial Officer of the company w.e.f. February 28, 2026.
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Zuari Industries' board, at its meeting on February 13, 2026, approved unaudited standalone and consolidated financial results for Q3 and nine months ended December 31, 2025. On a consolidated basis, revenue from operations grew to ₹26,263 lakhs (vs ₹23,506 lakhs in Q3 FY25), but the company reported a net loss of ₹2,643 lakhs for the quarter, largely due to exceptional charges including furniture subsidiary impairments and the impact of new Labour Codes. For the nine-month period, consolidated net profit stood at ₹13,739 lakhs, helped by an exceptional gain of ₹817.49 crores from the loss of control over subsidiary MCFL. Standalone Q3 showed a net loss of ₹501 lakhs on revenue of ₹21,136 lakhs. The board also accepted the resignation of CFO Mr. Nishant Dalal (effective February 27, 2026, to pursue outside opportunities) and appointed Mr. Jatin Jain, a Chartered Accountant and internal candidate since October 2016, as the new CFO effective February 28, 2026.
The CFO transition appears orderly with an internal promotion, which should reassure shareholders on continuity in financial reporting and strategy. However, the quarterly loss on a consolidated basis, ongoing impairments in the furniture business, pending SEBI settlement matter, and ethanol excise dispute remain key concerns that could weigh on stock sentiment in the near term.