Pidilite Industries appointed Amit Agarwal as Chief Financial Officer-designate and Senior Management Personnel, effective October 9, 2026. The appointment follows the recommendation of the Nomination and Remuneration Committee and was approved via a Board circular resolution on the same date.

Professional background

Agarwal brings more than 22 years of experience in finance functions, including accounting, reporting, audit, and control. His career includes tenures at reputed companies such as Pfizer Limited, Hindustan Unilever Limited, and Vedanta Resources Limited. He is a Chartered Accountant, Cost Accountant, and Company Secretary.

Regulatory compliance

The company informed the BSE and National Stock Exchange of India under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was signed by Manisha Shetty, Company Secretary, on October 9, 2026.

Pidilite Industries subsidiary Pidilite Ventures Pvt. Ltd. (PVPL) has agreed to transfer its entire shareholding in associate company Finemake Technologies Private Limited to its founders.

The transaction, disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is expected to complete by October 15, 2026. Upon completion, Finemake will cease to be an associate company of PVPL. The consideration is to be received in cash at a mutually agreed valuation, though specific financial terms remain undisclosed for confidentiality reasons.

Transaction Details

The buyers are Nallu Rajashekar and Sambasiva Rao Chowdary Chana, the founders of Finemake Technologies. The filing confirms that these buyers do not belong to the promoter group or any group companies of Pidilite Industries. Consequently, the transaction does not fall within the category of related party transactions.

Financial Contribution of Finemake

Finemake Technologies contributed a negligible portion to Pidilite’s consolidated revenue in the last financial year but recorded a loss. The details for the financial year ended March 31, 2026, are as follows:

What the Numbers Show

The divestiture highlights a strategic cleanup of non-core, loss-making assets. While Finemake generated ₹24.36 crore in revenue, this represented only 0.06% of Pidilite’s consolidated top line, indicating minimal impact on overall scale. However, the unit posted a Profit After Tax loss of ₹7.82 crore and held a negative net worth of ₹6.18 crore. The transfer to founders suggests an exit from a venture that was not contributing positively to the bottom line, allowing Pidilite to streamline its portfolio without significant material effect on its core financials.