Punjab Chemicals & Crop Protection announced on September 12, 2025, that its Chief Financial Officer (CFO), Vikash Khanna, has tendered his resignation due to personal commitments. The company's management has accepted Khanna's resignation, which was submitted on the same day.

Transition Period and Replacement Process

According to the company's regulatory filing, Khanna will be relieved from his duties within the stipulated time as per his appointment terms and company rules. Punjab Chemicals & Crop Protection has already initiated the process to find a suitable replacement for the CFO position, demonstrating the company's commitment to ensuring a smooth transition in its financial leadership.

Regulatory Compliance

The resignation was disclosed in compliance with Regulation 30 and 16 (1) (d) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has assured stakeholders that it will keep the stock exchanges informed about developments in the CFO replacement process, adhering to SEBI Listing regulations.

Company's Forward Outlook

While the departure of a key executive can present challenges, Punjab Chemicals & Crop Protection's prompt action in initiating the search for a new CFO suggests the company is focused on maintaining continuity in its financial operations. The effectiveness of the transition and the profile of the incoming CFO will be crucial factors for stakeholders to monitor in the near future.

Punjab Chemicals & Crop Protection, known for its presence in the chemicals and crop protection sector, will likely aim to ensure that this leadership change does not disrupt its ongoing financial strategies and operational plans.

Punjab Chemicals & Crop Protection held its 49th Annual General Meeting (AGM) on July 29, 2025, marking significant changes in leadership and reporting robust financial performance for the first quarter.

New Appointments

The company announced the appointment of two new Independent Directors at the AGM:

• Mr. Kapil Kumar Mehan: Appointed for a five-year term from April 30, 2025 to April 29, 2030. Mr. Mehan brings extensive experience in agribusiness, fertilizers, and chemicals sectors, having served as Group CEO of Adventz Group and Managing Director of Coromandel International Limited. His expertise spans multiple industry verticals including fertilizers, crop protection products, seeds, and agri-input retail.

• Mr. Suresh Arora: Also appointed for a five-year term from April 30, 2025 to April 29, 2030. Mr. Arora, a retired IPS officer, brings over four decades of administrative experience, having served as Director General of Police, Punjab and Chief Information Commissioner, Punjab. His background adds valuable insights into administration, management, and law enforcement to the board.

Additionally, the company appointed M/s P.S. Dua & Associates as Secretarial Auditors for a five-year term from April 1, 2025 to March 31, 2030.

Q1 Financial Highlights

Punjab Chemicals & Crop Protection reported strong financial results for Q1:

The company attributed this growth to improved domestic and export sales, as well as increased demand. However, gross margins decreased to 33.10% due to changes in product mix.

Strategic Developments

Punjab Chemicals & Crop Protection highlighted several strategic initiatives:

1. Signed three MOUs for export-oriented products, strengthening its global footprint.
2. Successfully commercialized a new agrochemical product (Herbicide) in Q1.
3. Four additional products are on track for commercialization over the next 2-3 quarters.
4. Expansion of research and development facilities is underway.
5. Plans for investment in a new manufacturing block and capacity debottlenecking over the next 6 quarters.

Future Outlook

The company's Chairman, Mr. Mukesh D. Patel, expressed optimism about Punjab Chemicals & Crop Protection's future, stating, "As we move forward, we remain committed to creating sustainable value and reinforcing our position in the industry." The management team is focusing on building a strong foundation for the future, emphasizing safety, sustainability, and innovation.

With these new appointments and strong financial performance, Punjab Chemicals & Crop Protection appears well-positioned for continued growth in the agrochemical and specialty chemicals sectors.