Grand Foundry Appoints Deepak Chaudhary as MD and Kamal Garg as CFO

Jyoti Rathi - Kolkata Bureau Jul 09, 2026 1,100 Views

Grand Foundry Limited has announced a major leadership reshuffle, appointing Deepak Chaudhary as Managing Director and Kamal Garg as CFO, effective July 9, 2026. The move follows the resignation of outgoing CFO Nitin Gupta, as the firm continues its strategic transition into the telecom and communication equipment sector.

The Mumbai-based firm undergoes a major leadership overhaul as CFO Nitin Gupta steps down, marking a new phase in its corporate transition.

MUMBAI — Grand Foundry Limited has announced significant changes to its top executive leadership team, effective July 9, 2026. The company, which is currently navigating a strategic business transformation, has appointed Deepak Chaudhary as its new Managing Director (MD) and Kamal Garg as the new Chief Financial Officer (CFO).

These appointments follow the resignation of the outgoing CFO, Nitin Gupta, who officially stepped down from his position on July 9, 2026. Mr. Gupta, who had been serving as a Key Managerial Personnel since January 2026, oversaw the company’s financial operations during a period characterized by board restructuring and shifting business priorities.

Leadership Restructuring at Grand Foundry

The appointment of Mr. Chaudhary and Mr. Garg is part of a broader corporate governance initiative at Grand Foundry. Since the start of the 2026 fiscal year, the company has undertaken an extensive overhaul of its management and board, aimed at aligning its leadership team with the firm’s evolving operational objectives.

Grand Foundry, which has been shifting its focus toward the telecommunications and networking equipment sectors, has seen several changes in its directorate throughout the year. The board has prioritized bringing in leadership with expertise suited to its new business model, following a period of high turnover among independent directors and senior managerial staff.

Regulatory Filings and Governance

The company confirmed these leadership changes through formal disclosures to the BSE Limited and the National Stock Exchange of India (NSE). These filings were submitted in compliance with the Securities and Exchange Board of India (SEBI) listing regulations, which mandate that all public companies must provide timely notice regarding the appointment or resignation of key managerial personnel.

The board of directors expressed that these appointments are intended to provide long-term stability as the company pursues its strategic growth plans in the telecom and communication infrastructure space.

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According to officials, the company is focused on ensuring a seamless leadership transition. Organizers stated that the new appointees bring the necessary industry experience to drive Grand Foundry’s current business trajectory and maintain robust corporate governance standards throughout the fiscal year.

Why It Matters

For investors and stakeholders, these leadership shifts represent a critical moment for Grand Foundry. The entry of a new Managing Director and CFO signals the board's intent to stabilize operations following a volatile six-month period. As the company continues to pivot its business model, the focus remains on whether these new leaders can successfully execute the firm’s strategy in the competitive telecommunications sector and maintain the recent improvements in financial performance reported earlier this year.

Key Facts at a Glance

New MD Appointment: Deepak Chaudhary has been appointed as the Managing Director.
New CFO Appointment: Kamal Garg has been appointed as the Chief Financial Officer.
Outgoing CFO: Nitin Gupta resigned from his position effective July 9, 2026.
Context: These changes are part of a broader restructuring effort at Grand Foundry to align leadership with its new telecom-focused business strategy.

Frequently Asked Questions (FAQ)

1. Why was there a change in leadership at Grand Foundry?

The changes are part of an ongoing restructuring effort to realign the company’s leadership team with its strategic shift toward the telecom and communication equipment industry.

2. Is Nitin Gupta remaining with the company in any capacity?

Grand Foundry’s official filings confirm his resignation as CFO, effective July 9, 2026. No other roles have been announced.

3. Where can shareholders view the official appointment details?

Shareholders can access the formal appointment disclosures on the BSE Limited and NSE corporate filing portals.