Apcotex Industries Ltd experienced a double whammy of news on March 27, 2025. The Chief Financial Officer of the company, Sachin Karwa, resigned to explore opportunities outside the organization. This sudden exit resulted in a 3.18% decline in the stock price of the company, closing at Rs 314.
In a strategic move, Apcotex announced equity acquisition in Opera Vayu Narmada worth 33.8 million rupees, marking a foray into the renewable energy business. The acquisition is in line with Apcotex's strategy of diversification and green initiatives.
The firm reassured stakeholders that Karwa would complete his notice period to provide a seamless transition. Apcotex continues on its growth path despite the departure of the CFO, as it reported a 3.9% growth in net profit to Rs 11.56 crore in Q3 FY25.
Source: Business Standard, Company Regulatory Filings