MEMeenakshi India544831Senior KMP change

Board approves results for quarter and half year ended 30 September 2026; CFO change and committee reconstitution

Unaudited Q2/H1 results to 30 Sep 2026 approved, limited review report.

By ScoutQuest · Wed 4 Nov 2026, 3:53 PM IST · 3 min read

Results approved

Unaudited Q2/H1 results to 30 Sep 2026 approved, with limited review report

CFO change

Vivek Bahety resigned; T. Parthasarathi appointed CFO & KMP with effect from 4 November 2026

Share split

Each share sub-divided into two shares of ₹5 each, record date 30 October 2026

What the board meeting covered

The board met on Wednesday, 4 November 2026, from 12:40 P.M to 3:10 P.M. The outcome note covers four items: approval of the unaudited results for the quarter and half year ended 30 September 2026, a change of Chief Financial Officer, the appointment of the new CFO, and the reconstitution of two board committees.

Results for the quarter and half year ended 30 September 2026

• The board approved and took on record the unaudited financial results, which carry a limited review report from Chaturvedi & Company, Chartered Accountants, the statutory auditors.
• In that report the auditors state that nothing came to their attention that causes them to believe the statement is not prepared in line with Indian Accounting Standard 34, or that it contains any material misstatement.
• A limited review is narrower than a full audit: it relies mainly on enquiries and analytical procedures rather than full audit verification.

CFO change

• Mr. Vivek Bahety resigned as Chief Financial Officer and Key Managerial Personnel with effect from 4 November 2026. The stated reason is career opportunities/personal commitments.
• The board placed on record its appreciation for his contribution during his tenure.
• Mr. T. Parthasarathi was appointed Chief Financial Officer and Key Managerial Personnel with effect from 4 November 2026, on the recommendation of the Nomination and Remuneration Committee and with the approval of the Audit Committee.
• Remuneration and other terms are to be governed by the NRC and the board from time to time.

Profile of the new CFO

• A Chartered Accountant with over 30 years of senior leadership experience in finance, treasury, governance, risk management and regulatory compliance, across pharmaceuticals, manufacturing, renewable energy and logistics.
• Holds a Bachelor of Commerce degree from D.G. Vaishnav College, Chennai, and is an ICAI member with a Diploma in Information Systems Audit.
• In earlier roles he led a ₹300 crore private equity investment transaction, debt financing arrangements, Ind AS/IFRS implementation and SAP/ERP rollouts.
• Previous positions include VNAI Pharmaceuticals Pvt Ltd, Beta Wind Farm/Orient Green Power/Shriram Group, Shasun Chemicals & Drugs Ltd and TVS & Sons Ltd.

Committee reconstitution

The Audit Committee

• Chairman Mrs. Kalpana Maheshwari, with Mr. Ashutosh Goenka, Mr. Hemal K Shah and Mr. K N Mahesh Kumar as members.
• Mr. V K Jeyakodi ceased to be a member with effect from 4 November 2026; Mr. K N Mahesh Kumar was appointed on the same date.

The Nomination and Remuneration Committee

• Chairman Mr. V K Jeyakodi, with Mr. Hemal K Shah and Mr. K N Mahesh Kumar as members.
• Mrs. Kalpana Maheshwari ceased to be a member with effect from 4 November 2026; Mr. K N Mahesh Kumar was appointed on the same date.

The net effect is a swap of one member in each committee, with Mr. K N Mahesh Kumar joining both and the chairmen staying in place.

Share capital context from the notes

• Bonus issue: 75,00,000 equity shares were allotted as fully paid-up bonus shares on 26 May 2025; paid-up equity share capital rose from ₹375.00 lakh to ₹1,125.00 lakh.
• Face value split: each share was sub-divided into two shares of ₹5 each, with 30 October 2026 as the record date. The issued, subscribed and paid-up capital stays the same, now represented by 2,25,00,000 equity shares against 1,12,50,000 equity shares before the split.
• Bonus shares and split shares due to certain shareholders holding in physical form, where valid demat details were not available, are held in the company's unclaimed securities suspense escrow account and can be claimed after completing the prescribed formalities.
• Earnings per share for all periods shown has been restated to reflect the split.

How to read it

A CFO transition and committee reshuffle are governance events rather than operating news. What matters for the numbers is that the same meeting approved the results with a limited review report and put a new CFO in place on the same day. The share capital notes explain why per-share figures have been restated: the face value per share is now smaller after the split.

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