Permanent Magnets appoints Ayush Kumar Jain as CFO from Oct 1, 2026
- Ayush Kumar Jain appointed as CFO and KMP effective October 1, 2026
- Sukhmal Jain ceased as CFO on September 30, 2026, following resignation
- Jain brings over 9 years of experience in FP&A, treasury, and finance transformation
- New CFO authorized to determine materiality of events for exchange disclosures
*this image is generated using AI for illustrative purposes only.
Permanent Magnets Limited appointed Ayush Kumar Jain as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) with effect from October 1, 2026. The appointment follows the resignation of Sukhmal Jain, who ceased to hold the position at the close of business hours on September 30, 2026.
The Board of Directors approved the appointment based on recommendations from the Nomination and Remuneration Committee and the Audit Committee. This action complies with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and relevant sections of the Companies Act, 2013. The company noted that Sukhmal Jain’s resignation was previously intimated to stock exchanges on September 3, 2026.
Profile of the new CFO
Ayush Kumar Jain is a qualified Chartered Accountant and Company Secretary with a Master's degree in Commerce. He brings over 9 years of experience in Financial Planning & Analysis (FP&A), Business Finance, Management Reporting, Taxation, Treasury, and Finance Transformation. His background spans manufacturing, pharmaceutical, and service sectors.
Prior to this appointment, Jain served as General Manager – Finance at Permanent Magnets Limited. In this role, he managed business finance, working capital, treasury and banking, capital allocation, profitability analysis, cost optimization, and finance process transformation. He also supported strategic initiatives related to the company’s manufacturing businesses and growth projects.
Key managerial personnel updates
The Board authorized Ayush Kumar Jain to determine the materiality of events or information and make disclosures to stock exchanges under the company’s Policy on Determination of Materiality. The following table outlines the current Key Managerial Personnel authorized for such disclosures:
| Name | Designation | Contact Details |
|---|---|---|
| Sharad Taparia | Managing Director | Tel: 022 68285400 |
| Ayush Kumar Jain | Chief Financial Officer | Email: investors@pmlindia.com |
| Rachana Sawant | Company Secretary | Email: investors@pmlindia.com |
The transition ensures continuity in financial leadership, with Jain’s internal promotion leveraging his existing familiarity with the company’s operational and financial frameworks.
Historical Stock Returns for Permanent Magnets
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.18% | -1.27% | -7.47% | +1.67% | +1.67% | +1.67% |
How might Ayush Kumar Jain's background in finance transformation influence Permanent Magnets Limited's capital allocation strategy for upcoming growth projects?
What specific changes to working capital management or treasury operations can investors expect under the new CFO's leadership?
Will the internal promotion of Jain signal a shift in the company's long-term financial planning philosophy compared to his predecessor?
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