ELECON Engineering CFO Narasimhan Raghunathan Steps Down from Position

Elecon Engineering Company has announced that its Chief Financial Officer, Narasimhan Raghunathan, has stepped down from his position. The departure marks a significant change in the company's senior leadership team.

Leadership Transition

The resignation of Narasimhan Raghunathan represents a key executive transition for the capital goods manufacturer. As CFO, Raghunathan was responsible for overseeing the company's financial operations and strategic financial planning.

Company Profile

ELECON Engineering Company operates in the capital goods sector, specifically focusing on non-electrical equipment manufacturing. The company is classified as a mid-cap entity in the Indian stock market, reflecting its established position in the industrial equipment space.

Corporate Details:	Information
Sector:	Capital Goods-Non Electrical Equipment
Market Classification:	Mid Cap
Key Position Change:	Chief Financial Officer

The company has not provided additional details regarding the circumstances of the resignation or the timeline for appointing a successor to the CFO position. This leadership change comes as part of the ongoing evolution of the company's executive management structure.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.11%	-0.43%	-7.27%	-34.29%	-13.53%	+1,041.50%

Elecon Engineering Company Limited has secured a favorable outcome in its GST-related appeal case, receiving approval from the Office of the Deputy Commissioner of State Tax (Appeal), Vadodara on January 7, 2026. The company disclosed this development to stock exchanges on January 8, 2026, in compliance with SEBI listing regulations.

Case Background and Resolution

The appeal was filed against an order passed by the State Tax Officer, Mobile Squad Dahod, Division-5, Vadodara, regarding the detention of a transport vehicle. The detention occurred because the transporter failed to produce the prescribed documents under Section 129 of the CGST Act. The Deputy Commissioner of State Tax (Appeal) has now approved the company's appeal application, ruling in favor of Elecon Engineering.

Financial Impact and Penalty Details

The case involved significant financial implications for the company, as detailed in the regulatory filing:

Parameter	Details
Penalty Paid	₹14,01,764.00
Payment Purpose	To obtain release order in Form GST MOV-05
Current Status	Penalty amount yet to be refunded
Financial Impact	No adverse financial implications due to favorable order

The company had paid the penalty amount of ₹14,01,764 under dispute to secure the release of the detained transport vehicle. With the favorable ruling now in place, this penalty amount is expected to be refunded to the company.

Regulatory Compliance and Timeline

Elecon Engineering had initially informed the stock exchanges about this matter on March 26, 2025. The company received the favorable order on January 7, 2026, and promptly disclosed the outcome to BSE and NSE on January 8, 2026, demonstrating adherence to regulatory disclosure requirements under SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Business Operations Impact

According to the company's filing, the favorable order has no negative financial implications on the company's operations or other activities. The resolution of this GST-related matter removes a regulatory overhang and positions the company to recover the penalty amount paid during the dispute period. This outcome reflects positively on the company's compliance management and legal strategy in handling regulatory challenges.