Padmanabh Industries526905Senior KMP change
CFO replaced: Akash Parmar appointed, Umesh Parghi resigns; independent director also exits
Board meeting on 29 October 2026: Akash Parmar appointed CFO from 30 October 2026, replacing Umesh Parghi who resigned.
By ScoutQuest · · 2 min read
- Board meeting date
- 29 October 2026 (05:30 PM to 06:10 PM)
- New CFO effective date
- Akash Bharatkumar Parmar appointed CFO with effect from 30 October 2026
- Outgoing CFO
- Umesh Parghi resigned as Chief Financial Officer with effect from 30 October 2026
Chief financial officer changes hands
- Mr. Akash Bharatkumar Parmar has been appointed Chief Financial Officer with effect from 30 October 2026, filling the post vacated by Mr. Umesh Parghi.
- Mr. Parmar is already the Managing Director of the company since February 2026, so he now holds both the MD and CFO positions.
- His stated profile: a Master of Engineering degree from New Zealand and over three years of experience in business development and team leadership, with knowledge of finance related matters.
New independent director added
- Ms. Rajshree Roy (DIN 12024810) has been appointed Additional Director in the Non-Executive Independent category with effect from 30 October 2026.
- Her stated profile: a degree of Bechler in Administration from the Recognized Arni University, Himachal Pradesh, with more than 5 years of experience in administrative and HR related work.
- The update states she has no relationship with the existing directors of the company.
Two exits from the board room
- Mr. Umesh Parghi resigned as Chief Financial Officer with effect from 30 October 2026, citing personal commitments and other professional engagements. He confirmed there are no material reasons for the resignation other than those stated.
- Mr. Harpalsingh Parmar (DIN: 11210165) resigned as Independent Director with effect from 30 October 2026, citing personal commitments and professional obligations in other work, and confirmed no other reason.
- In both cases the resignation letters are part of the disclosure, and each person confirmed there was no other material reason.
Other board business
- Various committees of the board were reconstituted.
- The meeting started at 05:30 PM and concluded at 06:10 PM.
What this means for a retail reader
- The company has a new finance head taking charge the day after the board meeting, so there is no gap at the CFO position.
- The same person is both Managing Director and Chief Financial Officer, which concentrates two key roles in one individual.
- A new independent director replaces an outgoing one, so the board composition changes at the same time.
- Both departing officials attributed their exit to personal and professional commitments, and each confirmed there was no other material reason.
Also from Padmanabh Industries
Board meeting postponed and rescheduled to 05 November 2026; agenda stays unaudited financial results
4 Nov 2026
Board meet on 04 Nov 2026 to consider and approve unaudited results for September quarter
30 Oct 2026
Board meeting outcome: CFO and independent director appointed; two resignations effective 30 October 2026
29 Oct 2026
More numbers
- Experience of the newly appointed CFOthree years
- Experience of the newly appointed independent directormore than 5 years
Source: BSE · 29 Oct 2026
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