Padmanabh Industries526905Senior KMP change

Board meeting outcome: CFO and independent director appointed; two resignations effective 30 October 2026

Board meeting held on 29th October, 2026; all changes take effect from 30th October, 2026.

By ScoutQuest · Thu 29 Oct 2026, 6:34 PM IST · 2 min read

Board meeting date: 29th October, 2026
Effective date of all changes: 30th October, 2026
Board changes approved: CFO and Additional Director (Non-Executive Independent) appointed; CFO and Independent Director resigned; board committees reconstituted

What the board decided

The board met on 29th October, 2026 and recorded four leadership changes, all taking effect from 30th October, 2026, along with a reconstitution of its various committees. A new Chief Financial Officer and a new independent director come in, and the sitting CFO and an independent director step down. Both new appointees take charge on the same date the outgoing officials cease to hold office.

The new Chief Financial Officer

Mr. Akash Bharatkumar Parmar is appointed Chief Financial Officer w.e.f. 30th October, 2026.
He is already the company's Managing Director, a position he has held since February, 2026, so he will carry both roles.
The stated reason for the appointment is the resignation of the current CFO.
His profile: a Master of Engineering degree from New Zealand and over three years of experience in business development and team leadership.
The disclosure states he has no relationship with the existing directors of the company.

The new independent director

Ms. Rajshree Roy (DIN: 12024810) is appointed as an Additional Director in the Non-Executive Independent category w.e.f. 30th October, 2026.
She holds a degree in Administration from Arni University, Himachal Pradesh, and has more than 5 years of experience in administrative and HR related work.
The disclosure states she has no relationship with the existing directors of the company.

The two resignations

Mr. Umesh Parghi resigned as Chief Financial Officer w.e.f. 30th October, 2026. His letter cites personal commitments and other professional engagements, and confirms there are no material reasons beyond those stated.
Mr. Harpalsingh Parmar (DIN: 11210165) resigned as Independent Director w.e.f. 30th October, 2026. His letter cites personal commitments and professional obligations in other work, and confirms there is no other reason for the resignation.

What a retail investor can take away

The top finance role and an independent director seat are being filled from the same day the earlier holders step down, so there is no gap between exit and replacement on the record.
The incoming CFO is also the Managing Director; one person will hold both the board executive role and the finance function.
Both outgoing officials have stated in their letters that no material reason other than those given applies to their resignations.
The board also approved the reconstitution of its various committees, which typically follows changes in board composition.

Bottom line

This is a board outcome that reshuffles the company's finance leadership and its independent director position, with all appointments and cessations dated 30th October, 2026.

Also from Padmanabh Industries