Management Change30 Sept 2026, 12:05 pm
Permanent Magnets Appoints Ayush Kumar Jain as New CFO
AI Summary
Permanent Magnets Ltd announced the appointment of Mr. Ayush Kumar Jain as the new Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective October 1, 2026. This appointment follows the resignation of Mr. Sukhmal Jain, who will cease his role as CFO on September 30, 2026. Mr. Jain brings over 9 years of experience in financial planning, business finance, taxation, and treasury across various sectors. He is a qualified Chartered Accountant and Company Secretary. The company also authorized Mr. Jain, along with Mr. Sharad Taparia (Managing Director) and Mrs. Rachana Sawant (Company Secretary), to determine the materiality of events and make disclosures to stock exchanges.
Key Highlights
- Ayush Kumar Jain appointed as CFO and KMP from October 1, 2026.
- Sukhmal Jain resigns as CFO, effective September 30, 2026.
- Jain has 9+ years of experience in finance and is a CA and CS.
- New CFO authorized for material event disclosures.
- Appointment approved by the Board based on committee recommendations.
Price Impact
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