Punjab Chemicals and Crop Protection rose 1.45% to Rs 909.90 after the company's board approved the appointment of Ashish R Nayak as chief financial officer (CFO) of the company with effect from 16 March 2023.
Nayak's appointment follows the resignation of Dr Sriram Swaminathan due to attaining the age of superannuation/retirement. Swaminathan will be relieved from the services of the company on 30 April 30 2023 for smooth transition to his successor.Nayak is a Chartered Accountant (CA) from ICAI and has a bachelor degree of Commerce from Bombay University. He has 26 years of rich & diversified experience in various sectors steering financials operations, IPO listing and handling SEBI regulatory requirements. He has worked with companies such as Supriya Lifescience, Malhotra Group, Crown Healthcare, Tommy Hilfiger, Timezone Entertainment, Kalpataru Group, Excel Industries.
Punjab Chemicals & Crop Protection is engaged in business of manufacturing of agro chemicals, speciality chemicals and bulk drugs and its intermediates.
The company's consolidated net profit declined 8.3% to Rs 20.06 crore despite of 2.1% rise in net sales to Rs 260.45 crore in Q3 FY23 over Q3 FY22.
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