V R Woodart Limited Announces Major Leadership Overhaul with New Directors and CFO

V R Woodart Limited , a company listed on the Bombay Stock Exchange (BSE: 523888), has announced significant changes to its leadership team, effective October 15, 2025. The board of directors has approved several key appointments and a resignation, marking a substantial shift in the company's management structure.

New Appointments

The company has made the following appointments:

Position	Appointee	Background
Additional Director (Whole-Time) & Chairperson	Mrs. Minal Patil	Over 6 years of experience in international trade and business management
Additional Director (Whole-Time)	Ms. Maddukuri Mounika	Skilled in digital marketing and analytics
Additional Director (Independent)	Mrs. Madhura Singh	Company Secretary with over 12 years of corporate governance experience
Additional Director (Independent)	Mr. Manish Jhanwar	Chartered Accountant with extensive audit and financial advisory experience
Chief Financial Officer	Mr. Suhas Deore	Over 17 years of finance experience across various sectors

All director appointments are subject to shareholder approval and are proposed for a five-year term, from October 15, 2025, to October 14, 2030.

Resignation

The company also announced the resignation of Mr. Sudesh Pingale from the position of Chief Financial Officer, effective from the closing business hours of October 14, 2025.

Key Details of New Appointees

Mrs. Minal Patil

Holds degrees in Law (LL.B, LL.M) and Science (B.Sc. Zoology). She specializes in export-import operations, marketing strategy, and global trade compliance.

Ms. Maddukuri Mounika

Has a strong academic foundation in Computer Science Engineering (B. Tech) and a Post Graduate Program in Management (PGPM).

Mrs. Madhura Singh

A Company Secretary (FCS) and Law Graduate (LL.B., LL.M.) with expertise in regulatory compliance and ethical governance practices.

Mr. Manish Jhanwar

Experienced in SME consultancy, financial advisory, debt structuring, and domestic taxation. He also serves as an Independent Director on the boards of Vippy Spinpro Limited and Highstreet Filatex Limited.

Mr. Suhas Deore

A seasoned finance professional with experience in accounting, taxation, financial control, and ERP implementation across various industries.

It's worth noting that Mrs. Minal Patil and Ms. Maddukuri Mounika will be re-classified as Promoters of the Company following the completion of an Open Offer.

These appointments represent a significant refresh of V R Woodart's leadership team, potentially signaling a new direction for the company's strategy and operations. Shareholders and market observers will likely be watching closely to see how these changes impact the company's performance and direction in the coming years.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.99%	+7.63%	-7.12%	+117.65%	+1,127.92%	+843.04%

V R Woodart Limited , a company listed on the Bombay Stock Exchange (BSE: 523888), has announced significant changes in its leadership and released its financial results for the first quarter.

Leadership Transition

The company has undergone a change in its Chief Financial Officer (CFO) position. Mr. Anwar Shaikh has stepped down from his role as CFO, effective August 5, 2025, citing pre-occupation as the reason for his departure. However, Mr. Shaikh will continue to serve as a Whole Time Director of the company.

Following this resignation, the Board of Directors has appointed Mr. Sudesh Pingale as the new Chief Financial Officer, commencing his role on August 6, 2025. Mr. Pingale brings over 20 years of experience in financial analysis, reporting, and strategic decision-making to the position. He holds a Master's degree in Business Management with a focus on Finance and International Trade, and his background spans diverse sectors including textile manufacturing, healthcare, and media production.

Q1 Financial Results

V R Woodart Limited has released its unaudited financial results for the quarter ended June 30, 2025. The key highlights of the financial performance are as follows:

Particulars	Q1 (₹ in Lacs)	Q1 Previous Year (₹ in Lacs)
Revenue from Operations	0.00	0.00
Other Income	0.00	0.00
Total Income	0.00	0.00
Total Expenses	37.56	1.96
Loss before Tax	(37.56)	(1.96)
Loss for the Period	(37.56)	(1.96)
Earnings Per Share (Basic)	(0.25)	(0.01)

The company reported no revenue from operations or other income for the quarter. Total expenses increased significantly to ₹37.56 lacs compared to ₹1.96 lacs in the same quarter of the previous year. Consequently, the loss for the period widened to ₹37.56 lacs from ₹1.96 lacs year-over-year.

Other Key Developments

The Board has recommended the re-appointment of Mr. Anwar Shaikh as Whole Time Director, subject to shareholder approval at the upcoming Annual General Meeting (AGM).
Mr. Amit Sagar Kochar has been recommended for appointment as the Secretarial Auditor of the company for a term of five years.
The 35th AGM of the company is scheduled for September 15, 2025, to be held via video conferencing.
The company's auditors have emphasized that while the company's net worth has been completely eroded and operations are limited, the accounts have been prepared on a going concern basis.
V R Woodart Limited has previously approved a preferential issue of equity shares and convertible warrants, which is expected to bring in fresh capital to address outstanding liabilities and meet working capital requirements.

Despite the current financial challenges, the management remains committed to exploring opportunities and maintaining the company as a going concern. The appointment of a new CFO and the planned capital infusion through the preferential issue are steps aimed at steering the company towards a more stable financial position.

Investors and stakeholders will be watching closely to see how these changes and strategies impact the company's performance in the coming quarters.