Evans Electric Limited has announced the resignation of its Chief Financial Officer (CFO) and Key Managerial Personnel, Mr. Prathamesh Wadekar, effective February 28, 2026. The resignation has been submitted to pursue further education under the Chartered Accountancy (CA) Final program.

Regulatory Disclosure Details

The company filed the mandatory disclosure with BSE Limited on February 18, 2026, pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification was signed by Director Ivor Anthony Desouza and submitted to comply with regulatory requirements for key managerial personnel changes.

Management's Response

The company has placed on record its appreciation for the services rendered by Mr. Prathamesh Wadekar during his tenure as CFO. In his resignation letter, Wadekar confirmed that there are no other material reasons for his resignation beyond pursuing further education under the Chartered Accountancy Final program.

Professional Transition

Wadekar expressed gratitude for the opportunities and guidance received during his tenure with Evans Electric Limited. He acknowledged the professional enrichment gained from working with the team and expressed pride in his contributions toward strengthening the company's financial and operational framework. The resignation letter requested management to consider the resignation for all statutory, regulatory, and banking purposes, including necessary filings with the Registrar of Companies and updates to bank authorized signatory mandates.

Company Operations

Evans Electric Limited, incorporated in 1951, operates in the heavy electro-mechanical repairs sector. The company maintains its registered office in Santa Cruz (West), Mumbai, and operates manufacturing facilities in Palghar, Maharashtra. The resignation represents a planned transition as the CFO pursues advanced professional qualifications in chartered accountancy.

Counter Cyclical Investments Private Limited has disclosed a shareholding increase in Evans Electric Limited, filing mandatory disclosures under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The Nagpur-based portfolio management company acquired additional shares through its clients on February 11, 2026.

Acquisition Details

The acquisition involved the purchase of 22000 shares through open market transactions, representing 0.40% of Evans Electric's total share capital. The transaction increased Counter Cyclical Investments' total shareholding from 293000 shares to 315000 shares.

Company Structure and Compliance

Counter Cyclical Investments Private Limited, incorporated with CIN U65999PN2018PTC175591, operates as a portfolio manager and made the acquisition through its clients. The company confirmed it does not belong to the promoter or promoter group of Evans Electric Limited.

Evans Electric Limited's shares are listed on BSE Limited, with a total equity share capital of 5488000 shares. The target company maintains its registered office at 430, Orchard Mall, 3rd Floor Royal Palms Estate, Aarey Milk Colony, Goregaon (East), Mumbai.

Regulatory Disclosure

The disclosure was filed with both Evans Electric Limited and BSE Limited as mandated under SEBI SAST Regulations. The filing includes comprehensive details of shareholding before and after the acquisition, with all voting rights held through equity shares carrying voting rights.

The transaction represents a strategic increase in Counter Cyclical Investments' position in Evans Electric Limited, with the portfolio manager maintaining transparency through proper regulatory filings. The disclosure was signed by Director Parminder Pal Singh Bhatia (DIN: 07159378) on February 12, 2026.