SPML Infra gains as board re-appoints Subhash Chand as chairman & whole time director

SPML Infra added 1.23% to Rs 251.20 after the company's board has considered and approved the re-appointment of Subhash Chand Sethi as chairman and whole time director (WTD) of the company for the term of 2 years, from 1 January 2025.

The firm added that this appointment is based on the recommendation of the nomination and remuneration committee and the approval of the board of directors. Subhash is liable to retire by rotation.

Subhash Chand Sethi is the brother of Sushil Kumar Sethi, vice chairman and non-executive director of the company.

Subhash Sethi is the chairman of SPML Infra and group companies. In the past 43 years, he worked relentlessly to grow the company with his mission to achieve the impossible and create value and wealth for the organization and its stakeholders. The group commenced operations in the engineering and contract sectors by implementing small turnkey projects in water in the North East. But with sheer commitments and ethical business practices, he continued walking the road of discovery and innovation.

The boundaries of his business, which was the North East of India, started expanding, and he set up his office in Kolkata and also expanded to other cities by setting up offices in Delhi and Bangalore, and SPML's presence spread across the country in just a few years time.

SPML Infra is engaged in the business of infrastructure development, which inter alia includes water management, water infrastructure development, waste water treatment, power generation, transmission and distribution, solid waste management, and other civil infrastructure.

The company reported consolidated net profit of Rs 13.06 crore in Q2 FY25 as against Rs 0.34 crore posted in Q2 FY24. Revenue from operations was at Rs 188.57 crore in Q2 FY25, down 25.73% year on year.

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