ADF Foods Limited has announced a key leadership change with the resignation of Chief Financial Officer Shardul Doshi, effective December 10, 2025. The company informed stock exchanges about this development in compliance with SEBI listing regulations.

Resignation Details

Mr. Shardul Doshi, who served as Chief Financial Officer and Key Managerial Personnel, submitted his resignation to pursue new opportunities and challenges. His tenure with the company will conclude at the close of business hours on December 10, 2025.

In his resignation letter addressed to Chairman and Managing Director Mr. Bimal Thakkar, Doshi expressed gratitude for the trust and support received during his tenure. He acknowledged the honor of serving in the leadership role and working with the company's talented team.

Company Response and Transition Plans

ADF Foods has placed on record its sincere appreciation for the services rendered by Mr. Shardul Doshi and his contributions during his tenure as CFO. The company emphasized his role in the organization's growth story and significant milestones achieved during his leadership.

The management confirmed that it is actively in the process of appointing a suitable candidate for the CFO position. The company will intimate the stock exchanges about the new appointment in due course, following proper regulatory procedures under the listing regulations.

Operational Continuity

ADF Foods has assured stakeholders that the company's finance functions will continue to run as usual during the interim period. This ensures business continuity and maintains operational efficiency while the search for a new CFO is underway.

The announcement was made in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating the company's commitment to transparent corporate governance and timely disclosure of material information to investors and regulatory authorities.

ADF Foods Limited, a prominent player in the food industry, has seen a significant development in its ownership structure. The company's promoters have successfully released the pledge on a substantial number of shares, indicating a stronger financial position and potentially increased investor confidence.

Key Highlights

• Pledge Release: Promoters Parul Bimal Thakkar and Sumer Bimal Thakkar have released the pledge on a total of 5 lakh shares.
• Loan Repayment: The pledge release follows the full repayment of a loan to Bajaj Finance Limited.
• Timing: The pledge release was executed on December 5, 2025.
• Pledge-Free Status: With this action, the entire shareholding of the promoter group now stands pledge-free.

Detailed Breakdown of Pledge Release

This development marks a positive shift in ADF Foods' financial landscape. The release of pledged shares typically indicates improved financial health and can be seen as a favorable sign by investors. Here's what this means for the company and its stakeholders:

1. Reduced Financial Obligations: The full repayment of the loan to Bajaj Finance Limited suggests that ADF Foods or its promoters have successfully met their financial commitments.

2. Enhanced Ownership Control: With the entire promoter group shareholding now pledge-free, the promoters have strengthened their control over the company without any encumbrances.

3. Improved Investor Perception: A pledge-free promoter holding often translates to increased confidence among investors, as it reduces the risk of sudden changes in ownership due to potential pledge invocations.

4. Financial Flexibility: The absence of pledged shares provides the company with greater financial flexibility for future fundraising or strategic decisions.

While this news is primarily about the company's ownership structure, it indirectly reflects on ADF Foods' financial stability. Investors and market watchers may view this development as a positive indicator of the company's overall health and the promoters' commitment to the business.

As always, investors are advised to consider multiple factors, including the company's financial performance, market conditions, and industry trends, before making investment decisions. The pledge release, while significant, should be viewed as part of a broader analysis of ADF Foods Limited's prospects and position in the food industry.