Elgi Equipments rose 1.45% to Rs 640.20 after the company said that its board has appointed Indranil Sen as chief financial officer (CFO), succeeding Jayakanthan, who will step down from the role on 18 March 2024.
Jayakanthan will continue to serve on the rolls of the company in the position of senior managerial personnel until 31 May 2024, on which date he will superannuate from the company.
The companys board, based on the recommendation of the Nomination and Remuneration Committee and the Audit Committee, has approved the appointment of Indranil Sen as CFO and key managerial personnel of the company effective from 18 March 2024.
Indranil is a finance leader with years of experience across audit firms, IT, and pharmaceuticals. He was last associated with Biocon.
Elgi Equipments is engaged in manufacturing of air compressors. It has reported 4.8% rise in consolidated net profit to Rs 83.88 crore on 6.4% increase in revenue to Rs 821.83 crore in Q3 FY24 over Q3 FY23.
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