Rajni Bector will retire as the director from the company's board on 31 March 2021.
Rajni Bector will be appointed as chairperson emeritus with effect from 1 April 2021, Mrs. Bectors Food Specialities said in a regulatory statement.
As a part of succession planning, the board further decided to elevate Suvir Bector, who is presently working as vice president-export, to member of the board of directors. The board appointed Suvir Bector as an additional director & wholetime director with effect from 1 April 2021 for a period of 5 years.
Mrs. Bectors Food Specialities is one of the leading companies in the premium and mid-premium biscuits segment in North India and a leading premium bakery player in India. The company is the sole/preferred supplier to some of the largest QSR franchises, cloud kitchens and multiplexes in India.
The company reported an 85.4% jump in consolidated net profit to Rs 20.67 crore on 11.1% rise in net sales to Rs 225.75 crore in Q3 FY21 over Q3 FY20.
The scrip shed 0.26% to currently trade at Rs 339.50 on the BSE.
Shares of Mrs. Bectors Food Specialities entered the bourses on 24 December 2020. The stock was listed at Rs 501, a premium of 73.96% to the initial public offer price of Rs 288.
The IPO of Mrs. Bectors Food Specialities was subscribed 198.02 times. The issue opened for subscription on 15 December 2020 and closed on 17 December 2020. The price band for the IPO was set at Rs 286-288 per share.
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