ZUARI INDUSTRIES LIMITED has informed the Exchange regarding Resignation of Mr Nishant Dalal as Chief Financial Officer of the company w.e.f. close of business hours on February 27, 2026.
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Zuari Industries' board approved its unaudited financial results for Q3 and nine months ended December 31, 2025. On a consolidated basis, revenue from operations grew to Rs 26,263.26 lakhs (vs Rs 23,506.44 lakhs a year ago), but the company reported a net loss of Rs 2,642.51 lakhs for the quarter (vs loss of Rs 2,523.83 lakhs). For the nine-month period, the group swung to a net profit of Rs 13,739.21 lakhs from a loss of Rs 7,362.09 lakhs, helped by a Rs 186.75 crores share of profit from associates and joint ventures. Standalone results remained in the red with a nine-month loss of Rs 576.52 lakhs. The board also accepted the resignation of CFO Mr. Nishant Dalal effective February 27, 2026, citing external opportunities, and appointed Mr. Jatin Jain (a Chartered Accountant with 14+ years of experience, internal since 2016) as the new CFO effective February 28, 2026.
The CFO transition appears orderly with an internal replacement, which should provide continuity, though shareholders may want clarity on the outgoing CFO's reasons. Continued quarterly losses on a standalone basis and exceptional items (labour code impact, furniture subsidiary impairments) remain concerns, while the consolidated turnaround is largely driven by one-time gains from the MCFL-PPL merger scheme.