Carysil appoints Prayasvin B. Patel as independent director
- Prayasvin B. Patel appointed as Additional Independent Director effective September 22, 2026
- Tenure set for five years until September 21, 2031, subject to member approval
- Patel brings over five decades of experience in engineering and manufacturing
- Currently serves as Chairman & Managing Director of Elecon Engineering Company Limited
*this image is generated using AI for illustrative purposes only.
Carysil Limited appointed Prayasvin B. Patel as an Additional Director designated as an Independent Director, effective September 22, 2026. The appointment follows the recommendation of the Nomination and Remuneration Committee and is subject to shareholder approval.
Appointment details and tenure
Patel will serve for a first term of five consecutive years, running from September 22, 2026, to September 21, 2031. He is not liable to retire by rotation. The company confirmed that Patel is not related to any directors or key managerial personnel of Carysil and is not debarred from holding office by any SEBI order or other authority.
The board meeting that approved this appointment commenced at 11:40 am and concluded at 1:15 pm on September 22, 2026. The outcome was communicated to BSE and NSE in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Profile of Prayasvin B. Patel
Patel is a veteran industrialist with over five decades of experience in the engineering and manufacturing sector. His professional background highlights significant leadership roles in major industrial enterprises.
| Particulars | Details |
|---|---|
| Name | Prayasvin B. Patel |
| DIN | 00037394 |
| Current Role | Chairman & Managing Director, Elecon Engineering Company Limited |
| Education | B.E. (Mechanical), MBA |
| Term Start | September 22, 2026 |
| Term End | September 21, 2031 |
He has led Elecon Engineering Company Limited since 1993, initially as Managing Director and subsequently as Chairman & Managing Director from 2006. During his tenure, he built the company's Gear Division into Asia's largest industrial gear manufacturer and drove its international expansion. Patel holds a B.E. in Mechanical Engineering from Sardar Patel University and an MBA from Loyola University, USA.
Shareholder approval process
The appointment requires approval from members under Regulation 17(1C) and Regulation 25(2A) of the Listing Regulations and relevant provisions of the Companies Act, 2013. Carysil will send the approved draft postal ballot notice and incidental matters electronically to registered shareholders. The cut-off date for determining eligible shareholders is Friday, September 25, 2026.
Historical Stock Returns for CARYSIL
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.05% | -8.31% | -7.79% | +36.30% | +16.11% | +65.33% |
How might Prayasvin B. Patel's expertise in scaling Elecon Engineering's international operations influence Carysil's future export strategy and global market expansion?
What specific governance reforms or strategic pivots are shareholders likely to expect from Carysil following the appointment of such a high-profile independent director?
Could Patel's deep industry connections within the engineering sector lead to potential supply chain synergies or joint ventures between Carysil and other major industrial players?
20
Access Market Heat-map & Insights 
Create, Save & Share your Screener 
Use 200+ Screening Filters 
