Board approves new CFO and Company Secretary; accepts CFO resignation

CFO change: the Board accepted the resignation of Mr. Samir Mahendra Desai, who ceased to be CFO from the closure of business hours on 30 September 2026.

Fri 9 Oct 2026

New CFO Appointed

Mr. Ajay Jain appointed CFO and Key Managerial Personnel w.e.f. 09 October 2026

CFO Resignation Accepted

Mr. Samir Mahendra Desai ceased to be CFO from the closure of business hours on 30 September 2026

New Company Secretary Appointed

Ms. Nikita Singh Rajawat appointed Company Secretary and Compliance Officer w.e.f. 09 October 2026

The company informed the Exchange that its Board of Directors met on Friday, 09 October 2026 and approved three items concerning its senior management.

New CFO: Mr. Ajay Jain

• Appointed Chief Financial Officer and Key Managerial Personnel of the company with effect from 09 October 2026.
• Described as a commerce postgraduate and a qualified Chartered Accountant with over 28 years of experience in corporate finance, financial planning and analysis, treasury management, internal controls, taxation, and ERP/SAP implementation.
• The update states a track record across the automotive, retail, manufacturing and industrial automation sectors, and cites expertise in building finance functions, financial governance and operational efficiency.
• On relationships between directors, the update states Not Applicable for this appointment.

New Company Secretary: Ms. Nikita Singh Rajawat

• Appointed Company Secretary and Compliance Officer with effect from 09 October 2026, designated as Key Managerial Personnel under section 203 of the Companies Act, 2013 and as Compliance Officer under Regulation 6(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
• Described as a qualified Company Secretary and an Associate Member of the Institute of Company Secretaries of India (ICSI), holding Membership No. A74608, with over 3 years of experience in matters relating to the Companies Act, SEBI Listing Regulations and other allied laws.
• On relationships between directors, the update states Not Applicable for this appointment.

The CFO exit

• The Board accepted the resignation of Mr. Samir Mahendra Desai, who ceased to be the Chief Financial Officer with effect from the closure of business hours on 30 September 2026.
• The update states that the required details in this regard were already disclosed to the Exchange on 30 September 2026.

How to read this

This is a change in Key Managerial Personnel — the small group of executives a listed company must have in place for its financial and compliance functions. The CFO position moves to a new appointee and the Company Secretary and Compliance Officer position is also filled, both effective 09 October 2026.

The update sets out the names of the appointees, their dates of appointment, and their stated professional background and experience. It also confirms the change in the CFO position that was disclosed to the Exchange on 30 September 2026.

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