Huhtamaki India gains on re-appointing Dhananjay Salunkhe as MD & Jagdish Agarwal as WTD

Huhtamaki India rallied 3.27% to Rs 193.95 after the company's board approved the re-appointment of Dhananjay Salunkhe as managing director (MD) and Jagdish Agarwal as whole-time director (WTD) for three-year terms, starting in 2025.

The company added that both appointments were based on the recommendation of the Nomination and Remuneration Committee.

The official announcement was made on Friday, 21 March 2025, after market hours.

Dhananjay Salunkhe will serve as managing director of the company for a further period of three years, from 12 August 2025 to 11 August 2028. Salunkhe holds a masters degree in business management and a bachelors degree in engineering.

Additionally, he attended advanced leadership development programs at INSEAD, France, and Columbia University. Dhananjay has over 30 years of experience in various multinational and Indian companies in leadership roles with increasing responsibilities. He has served as the SBU Chief Executive of the packaging and printing business at ITC, in addition to holding leadership positions at 3M, Sulzer India, and GKN Sinter Metals.

Further, Jagdish Agarwal will serve as a whole-time director of the company for a further period of three years, from 26 May 2025 to 25 May 2028. Jagdish Agarwal holds a bachelors degree in commerce from Calcutta University and is a Chartered Accountant (CA) from the Institute of Chartered Accountants of India. He also holds an additional professional finance degree, CMA, from the Institute of Cost and Management Accountants.

Agarwal is a seasoned financial professional with demonstrated expertise across industries and service sectors such as manufacturing, telecom, and banking, to name a few. His last employment was with Owens Corning India as its Chief Financial Officer. Jagdish has over 27 years of experience and has worked with companies like Reliance Communications, ICICI Bank, and Owens Corning India.

Huhtamaki Indias principal activity is the manufacture and sale of packaging material.

On a full-year basis, the companys standalone net profit declined by 39.5% to Rs 64.73 crore, with a 1.2% fall in revenue from operations to Rs 2,450.53 crore in FY24 compared to FY23.

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