Rungta Irrigation Limited has announced significant changes in its top management, as approved by the company's Board of Directors in a meeting held on August 28, 2025. The board has given the green light for the reappointment of two key executives, reinforcing the company's leadership structure for the coming years.

Leadership Continuity

The Board of Directors, upon recommendation from the Nomination & Remuneration Committee, has approved the following reappointments:

1. Mr. Mahabir Prasad Rungta (DIN: 00235632) has been reappointed as the Chairman and Managing Director for a five-year term, effective from September 29, 2025, to September 28, 2030.

2. Mr. Tarun Kumar Megotia (DIN: 01098092) has been reappointed as the Whole-Time Director for another five-year term, starting from August 9, 2026, to August 8, 2031.

Both reappointments are subject to shareholder approval at the upcoming 41st Annual General Meeting (AGM) scheduled for September 25, 2025.

Executive Profiles

Mr. Mahabir Prasad Rungta

• Graduate from Banaras Hindu University
• Over 35 years of manufacturing experience
• Career began in coal transportation for Coal India Limited subsidiaries
• Instrumental in establishing Rungta Irrigation Limited in Ghaziabad
• Focused on PVC pipes and irrigation spares, later expanded to Hyderabad
• Currently heads the Rungta Group of Companies
• Group interests include irrigation, cement, leasing, financing, and mining of limestone and bauxite

Mr. Tarun Kumar Megotia

• Over four decades of entrepreneurial and leadership experience
• Started career in coal transportation for Coal India subsidiaries
• Currently serves as the Executive Director of the Rungta Group of Companies

Corporate Governance

The company has confirmed that neither Mr. Rungta nor Mr. Megotia is debarred from holding the office of Director by any order of SEBI or any other authority, ensuring compliance with corporate governance norms.

It's worth noting that Mr. Rungta is related to Mrs. Shruti Jain, the Whole-Time Director of the company, who is his daughter. Mr. Megotia is not related to any Director of the company.

Annual General Meeting

Rungta Irrigation Limited has also announced that its 41st Annual General Meeting will be held on September 25, 2025, at 1:00 P.M. through Video Conferencing (VC). The board has approved the Annual Report for FY 2024-25 along with the notice convening the AGM.

These reappointments and the upcoming AGM signal Rungta Irrigation Limited's commitment to maintaining stable leadership and transparent communication with its shareholders as it moves forward in its various business ventures.

Rungta Irrigation , a key player in the irrigation sector, announced significant changes in its leadership and released its financial results for the first quarter.

Leadership Change

The company disclosed a major transition in its finance department on August 7. Vinod Kumar Mathuria stepped down from his role as Chief Financial Officer (CFO), citing personal reasons and family commitments. Simultaneously, the Board of Directors appointed Sumit Bansal as the new CFO, effective immediately.

Sumit Bansal brings over two decades of extensive experience in financial management, audit, taxation, and corporate compliance to his new role. A qualified Chartered Accountant, Bansal's career includes notable positions such as CFO at RRB Energy Ltd. and Chief Manager-Finance & Accounts at Thomson Press (India) Ltd. Most recently, he served as a partner at SRRM & Associates, a chartered accountancy firm specializing in audit and consultancy services.

The appointment, approved by the Board based on the recommendation of the Nomination and Remuneration Committee, is expected to bring fresh perspectives to Rungta Irrigation's financial strategies.

Q1 Financial Highlights

Rungta Irrigation also released its unaudited financial results for the quarter ended June 30:

The company demonstrated robust growth in the first quarter, with revenue from operations increasing by 19.90% year-over-year to ₹3,645.35 lakhs. Total revenue saw a similar uptick of 18.96%, reaching ₹3,706.60 lakhs.

While profit before tax remained relatively stable with a marginal increase of 0.11%, net profit showed a more substantial growth of 6.03%, rising to ₹134.27 lakhs compared to ₹126.63 lakhs in the same quarter of the previous fiscal year.

The financial results were reviewed by the company's statutory auditors, M/s. Mamraj & Co., and approved by the Board of Directors at their meeting on August 7.

Conclusion

As Rungta Irrigation navigates through leadership changes and reports positive financial growth, the company appears well-positioned to continue its trajectory in the irrigation sector. The appointment of Sumit Bansal as CFO, coupled with the strong first-quarter performance, signals a promising outlook for the company.