Company filled five leadership roles before 2026 director death

Company filled five finance, compliance, plant and sales-management roles during 2024 and 2025 before recording the death of whole-time director Mayank Choksi on August 12, 2026. Four of the roles were recorded with November 2025 effective dates, while the prospectus gives conflicting 2024 and 2025 dates for one sales appointment.

How recently did Company build its senior leadership team?

Company added a chief financial officer, company secretary and compliance officer, plant head, and two sales and marketing managers in 2024 and 2025. The appointments contrast with Managing Director Kedar Choksi's association with Company since 2009 and his stated 21 years of manufacturing operations and business-management experience.

The prospectus records Jitendra Donga's appointment as chief financial officer on November 10, 2025 and Kinjal Jain's appointment as company secretary and compliance officer on November 1, 2025. The chief financial officer is responsible for financial planning, budgeting, reporting, risk management, cash flow and financial strategy, while the company secretary and compliance officer handles secretarial, corporate-law and regulatory-conformity matters.

Company says all named key managerial personnel, or KMPs, and senior management personnel, or SMPs, are permanent employees. It also says none was recruited under an understanding with a major shareholder, customer, supplier or another party, and that no KMP or SMP had contingent or deferred compensation accrued for the year ended March 31, 2026.

What changed after the whole-time director died?

Company recorded Mayank Choksi's cessation as whole-time director due to his death on August 12, 2026. Its management-change table says he had been appointed whole-time director on December 1, 2023, the same date on which Kedar Choksi and Heta Choksi were appointed whole-time directors.

Company reconstituted its Stakeholders Relationship Committee on August 20, 2026 following the death. Shah Hemal Dhirenbhai became chairman, and Heta Choksi and Kedar Choksi became members; the committee had originally been approved by the board on December 5, 2025.

The committee must meet at least once annually and report quarterly to the board on shareholder-complaint redressal. Its stated remit includes resolving security-holder grievances, reviewing voting-right measures, monitoring service standards of the registrar and share transfer agent, and considering steps to reduce unclaimed dividends.

Company does not identify a replacement whole-time director in the disclosed management record. It also states that no major change in control occurred in the five years immediately preceding the prospectus date, so the disclosed response was committee reconstitution rather than a stated change in ownership or a disclosed succession appointment.

Who holds finance, compliance, plant and sales responsibilities?

Company divides finance, compliance, plant operations and commercial responsibilities among five recently appointed managers with 6 to 17 years of stated experience. Jitendra Donga, with 17 years of experience, is responsible for forecasting, performance management, financial controls, regulatory compliance and financial guidance for business decisions.

Kinjal Jain has more than five years of secretarial and corporate-law compliance experience and was appointed effective November 1, 2025. Company states that she is a qualified company secretary and an associate member of the Institute of Company Secretaries of India, and that her role includes corporate governance and secretarial matters.

Yagneshkumar Patel, appointed plant head on November 10, 2025, has more than 12 years of experience in production management, cost control, inventory management, project execution and vendor coordination. Company also describes Kedar Choksi as production and operations head, placing the plant-head role alongside the managing director's disclosed operations responsibility.

Commercial responsibilities are split between Dayalal Trivedi's general sales and marketing role and Bharat Patel's sales and marketing role for the public sector undertaking, or PSU, department. Bharat Patel's stated responsibilities include tenders, customer negotiations, procurement, vendor management and supply-chain coordination, while Dayalal Trivedi has stated experience in Company's domestic business operations.

Is Company’s sales-appointment timeline consistent?

Company's prospectus gives two different dates for Dayalal Trivedi's appointment, leaving the timing unresolved in the disclosed record. His profile says he was appointed general manager, sales and marketing effective March 11, 2024, while the table of KMP and SMP changes records the same role on November 10, 2025.

The management-change table gives November 10, 2025 for Jitendra Donga's chief financial officer role, Yagneshkumar Patel's plant-head role, Bharat Patel's PSU sales role and Dayalal Trivedi's sales role. By contrast, the personnel table gives Dayalal Trivedi a joining year of 2024, matching the March 11, 2024 profile date rather than the later table entry.

Company says no KMP or SMP changes occurred during the preceding three years except those listed in that table. The prospectus does not say whether the November 10, 2025 entry for Dayalal Trivedi represented a redesignation, reappointment or correction, so the disclosed information supports a 2024-25 leadership build-out but not a single definitive effective date for that role.

How concentrated are Company’s ownership and board roles?

Company remains controlled by its two promoters, Kedar Choksi and Heta Choksi, who jointly held 76,34,088 equity shares, described as almost 100% of pre-issue paid-up equity share capital. Company separately states that the promoter and promoter group collectively held 84,25,458 equity shares as of the prospectus date, a disclosure using a broader ownership category.

Kedar Choksi and Heta Choksi each received Rs 24.00 lakh in compensation for the financial year ended 2025-26. Their three-year whole-time director terms began on December 1, 2023 and expire on November 30, 2026; Company says neither of the other named KMPs and SMPs held shares as of the prospectus filing date.

Company says only Kedar Choksi and Jitendra Donga among the named KMPs and SMPs were also directors. The Nomination and Remuneration Committee comprises three non-executive independent directors, must meet at least once annually, and is tasked with identifying people qualified for director and senior-management positions and recommending appointments or removals to the board.

Conclusion

Company's disclosed transition combines five finance, compliance, plant and commercial appointments made across 2024 and 2025 with the August 12, 2026 cessation of a whole-time director. The management structure places functional responsibility with permanent employees whose stated experience ranges from 6 to 17 years, while promoter ownership remains concentrated with Kedar Choksi and Heta Choksi.

The next disclosed milestone is November 30, 2026, when the three-year whole-time director terms of Kedar Choksi and Heta Choksi expire. Investors can also watch for any disclosed replacement or succession action following Mayank Choksi's death and for clarification of the March 11, 2024 and November 10, 2025 dates reported for Dayalal Trivedi's appointment.