VIP Industries shares in focus as MD resigns due to personal reasons

Shares of VIP Industries would be in focus on Wednesday morning after the company informed stock exchanges that its managing director Anindya Dutta tendered his resignation on August 14, which would be effective from the close of business hours on November 13. VIP said Dutta resigned due to personal reasons.

VIP Industries recently reported a 16 per cent drop in consolidated profit at Rs 57.80 crore for June quarter on an 8 per cent rise in revenue at Rs 636.10 crore.

VIP Industries said based on the recommendation of the nomination and remuneration committee, the board of directors on August 15 appointed Neetu Kashiramka as the MD designate and Chief Financial Officer, with effect from August 15.

"Neetu Kashiramka shall take over as the Managing Director and Chief Financial Officer of the company with effect from 14th November, 2023, subject to shareholder’s approval. Ms. Neetu Kashiramka is not debarred from holding the office of director by virtue of any Sebi order or any other such authority," VIP Industries said.

Kashiramka has joined VIP Industries on April 7, 2020 as CFO of the company and had been appointed as

executive director and CFO since May 8, 2023. She is a qualified Chartered Accountant having over 26 years of post-qualification experience.

"She brings in more than two decades of experience in the Corporate Finance function across several organisations. Before joining the company, she was working as CFO with Greaves Cotton Limited, a listed Company in the Engineering sector," VIP Industries said.

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