New Chief Financial Officer appointed from October 1, 2026

The Board has approved the appointment of Mr. Ayush Kumar Jain as Chief Financial Officer and Key Managerial Personnel, effective October 1, 2026.

Wed 30 Sep 2026

New CFO Appointment

Mr. Ayush Kumar Jain appointed as Chief Financial Officer and Key Managerial Personnel, effective October 1, 2026

Outgoing CFO

Mr. Sukhmal Jain ceases to be CFO and KMP from close of business on September 30, 2026

New CFO Qualifications

Chartered Accountant and Company Secretary with Master's in Commerce and over 9 years of experience

Current Role

Mr. Ayush Kumar Jain is currently General Manager – Finance at the company

What was decided

The Board of Directors, based on the recommendations of the Nomination and Remuneration Committee and the Audit Committee, approved the appointment of Mr. Ayush Kumar Jain as Chief Financial Officer (CFO) and Key Managerial Personnel with effect from October 1, 2026.

The Board also noted the resignation of Mr. Sukhmal Jain, who ceases to be CFO and Key Managerial Personnel from the close of business hours on September 30, 2026. That resignation had already been intimated to the stock exchanges on September 3, 2026. The company recorded its appreciation for his contribution.

Profile of the incoming CFO

• A qualified Chartered Accountant and Company Secretary, with a Master's degree in Commerce.
• Over 9 years of experience across Financial Planning & Analysis, Business Finance, Management Reporting, Taxation, Treasury and Finance Transformation.
• Experience spans manufacturing, pharmaceutical and service sectors.
• Presently associated with the company as General Manager – Finance, covering business finance, working capital management, treasury and banking, capital allocation, profitability and ROCE analysis, cost optimisation, MIS and finance process transformation.
• Term of appointment is in accordance with the Companies Act, 2013 and the company's policies.

Disclosure authority

The Board authorised the new CFO, with effect from October 1, 2026, to determine the materiality of events or information and to make disclosures to the stock exchanges. The authorised Key Managerial Personnel for this purpose are the Managing Director Mr. Sharad Taparia, the CFO Mr. Ayush Kumar Jain, and Company Secretary Mrs. Rachana Sawant.

Meeting timing

The Committee meetings and Board Meeting commenced at 11.00 AM and concluded at 11:45 AM.

How to read this

This is a leadership transition in the finance function. The successor is an internal candidate already handling finance at the company, which suggests continuity rather than disruption. No financial performance figures or business decisions form part of this announcement.

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