Prima Industries appoints Kushagra Gupta as MD for five years

Prima Industries Limited appointed former chief financial officer Kushagra Gupta as managing director for five consecutive years from 12 November 2026, following the 13 October 2026 death of Chairman and Managing Director S. K. Gupta. The Board approved the appointment subject to shareholder approval and any other required statutory approvals.

Why did Prima Industries appoint Kushagra Gupta as managing director?

Prima Industries appointed Kushagra Gupta because S. K. Gupta’s death on 13 October 2026 created a vacancy in the chairman and managing-director positions. At its 12 November 2026 meeting, the Board recorded its condolences and appreciation for S. K. Gupta’s contributions before approving the new managing-director appointment.

The Board acted on the recommendation of its Nomination and Remuneration Committee, which considered Kushagra Gupta’s appointment before the 12 November 2026 approval. Prima Industries said the appointment runs for five consecutive years from that date, but remains conditional on shareholder approval and other statutory approvals where required.

The 12 November 2026 filing describes the appointment as arising from the vacancy caused by S. K. Gupta’s death, rather than from a retirement or removal. Prima Industries did not disclose a separate appointment of a chairman in the Board-meeting outcome, which specifically records Kushagra Gupta’s appointment as managing director.

When did Prima Industries make the leadership and finance appointments?

Prima Industries made both appointments at its 12 November 2026 Board meeting, after Kushagra Gupta’s resignation as chief financial officer became effective at the close of business on 4 November 2026. The Board named Kushagra Gupta managing director and appointed Ladhu Singh as the new chief financial officer on the same date.

The Board meeting began at 3:00 PM and ended at 4:00 PM on 12 November 2026. Prima Industries had already informed the stock exchange on 4 November 2026 about Kushagra Gupta’s CFO resignation and the resignation of independent director Mayuri Sinha, both effective from the close of business that day.

The sequence created an eight-day interval between Kushagra Gupta leaving the CFO position on 4 November 2026 and taking the managing-director role on 12 November 2026. Ladhu Singh’s CFO appointment also took effect on 12 November 2026, rather than when the previous CFO resignation took effect.

Who is Prima Industries’ new managing director?

Prima Industries’ new managing director is Kushagra Gupta, who holds a Bachelor of Business Administration degree and a Master’s degree in Fashion and Apparel Business. The filing says his expertise includes the fast-moving consumer goods, food and beverage, family business management, project planning and development sectors.

Kushagra Gupta’s tenure begins on 12 November 2026 and is set for five consecutive years, subject to the stated approvals. The Board also approved remuneration terms for the appointment on 12 November 2026, but the filing did not provide a remuneration amount or a breakdown of those terms.

Prima Industries disclosed that Kushagra Gupta is the son of Swati Gupta, a non-executive director. It also said he confirmed that he is not debarred from holding a director’s office by an order of the Securities and Exchange Board of India or any other statutory authority.

Who replaced Prima Industries’ chief financial officer?

Prima Industries appointed Ladhu Singh as chief financial officer, or CFO, with effect from 12 November 2026, replacing Kushagra Gupta after his 4 November 2026 resignation. The Board approved the remuneration payable to Ladhu Singh under terms placed before it, without disclosing a pay figure.

Prima Industries described Ladhu Singh as an industrial and management professional with approximately 52 years of experience in manufacturing and industrial sectors. His stated experience covers flour mills, chemical manufacturing facilities, cattle-feed manufacturing units, and solvent extraction and refining industries.

The company also cited Ladhu Singh’s experience in administration, supervision, budgeting, cost management, financial discipline and organisational control. Unlike Kushagra Gupta’s disclosed relationship with Swati Gupta, Prima Industries said Ladhu Singh is not related to any of its directors.

What financial results did Prima Industries report with the appointments?

Prima Industries approved unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026 at the same 12 November 2026 meeting. On a standalone basis, revenue from operations was Rs 2.075 crore in the September 2026 quarter, while total income was Rs 2.085 crore and total expenses were Rs 2.381 crore.

Standalone revenue rose from Rs 1.776 crore in the quarter ended 30 September 2025 to Rs 2.075 crore in the latest quarter. However, the standalone net loss widened to Rs 29.6 lakh from Rs 3.9 lakh a year earlier, while the immediately preceding June 2026 quarter had recorded a profit of Rs 27.7 lakh on revenue of Rs 2.163 crore.

For the half year ended 30 September 2026, Prima Industries reported a standalone net loss of Rs 1.9 lakh, compared with a loss of Rs 16.1 lakh in the corresponding 2025 period. The Audit Committee reviewed the results on 11 November 2026, and the statutory auditors’ 12 November 2026 limited review report said nothing had come to their attention indicating a material misstatement in the unaudited standalone results.

Conclusion

Prima Industries responded to the vacancy created by S. K. Gupta’s 13 October 2026 death by appointing Kushagra Gupta as managing director from 12 November 2026 and Ladhu Singh as CFO from the same date. The Board’s decisions changed both the managing-director and finance-leadership roles, while the latest standalone quarter reported a Rs 29.6 lakh loss.

The next disclosed matter to watch is shareholder approval for Kushagra Gupta’s five-year managing-director term, alongside any other statutory approvals required for the appointment. Prima Industries did not state a date for the shareholder vote or publish the remuneration amounts approved for either appointment in its 12 November 2026 filing.