Adarsh Plant Protect Faces CFO Exit: Himanshu Bhoi Steps Down Amid Leadership Shift

Leadership Transition Details

Adarsh Plant Protect Ltd, a BSE-listed small-cap firm (526711) specializing in plant protection equipment and packaging, disclosed that Himanshu Bhoi has resigned from his CFO role effective December 13, 2025. Bhoi, a commerce graduate with over 30 years in finance, joined on December 1, 2024, succeeding Ashok Padhiyar, who exited for personal reasons. This rapid turnover underscores potential internal shifts at the Gujarat-based manufacturer amid volatile market conditions.​

Key Highlights

Resignation Timeline: Himanshu Bhoi's exit follows BSE Regulation 30 disclosure; effective Dec 13, 2025, with no stated reason provided.​

Recent History: Appointed Dec 1, 2024, replacing Ashok Padhiyar; brief 1-year tenure highlights leadership flux.​

Company Snapshot: Market cap ~₹26-31 Cr, negative ROE (-322%), trading at ~₹28-30; focuses on sprayers, plastics, solar products.​

Sources: Reuters via TradingView, Rediff Money, Economic Times, Marketscreener