Welspun Specialty appoints Navin Agarwal as CFO

Welspun Specialty Solutions said that company's nomination and remuneration committee has approved the appointment of Navin Agarwal as the chief financial officer (CFO) of the company with effect from 19 December 2024.

Navin Agarwal appointment as CFO in place of Brijveer Singh, who has tendered his resignation from the office of the chief financial officer effective from the close of business hours of 19 December 2024 and will be relieving in due course of time.

Navin Agarwal is an established finance professional with over 27 years of experience across a wide spectrum of finance functions and general management across multiple industries. Navin has worked with large Indian conglomerate groups Aditya Birla Group (Hindalco, Aditya Birla Nuvo), Mahindra & Mahindra, and Welspun Group.

Navin is an alumnus of Birla Institute of Management Technology-Noida, where he completed his Post Graduate Diploma in Business Management and holds a Bachelor of Commerce from Delhi University.

Navin is associated with Welspun Group for over 16 years. Throughout his tenure, he has made significant contributions to the growth and success of Welspun Group, demonstrating his work excellence, ethics, dedication, & commitment to the organization's goals. He has consistently added significant value to the organization by collaborating with stakeholders across all levels.

Welspun Specialty Solutions is primarily engaged in the business of manufacture and distribution of steel and steel products, and revenue from such products is derived from transfer at a point in time, which is shown under the sale of products.

The company reported a consolidated net loss of Rs 6.35 crore in Q2 FY25 as against a net profit of Rs 5.2 crore posted in Q2 FY24. Revenue from operations was at Rs 167.42 crore in Q2 FY25, down 19.43% year on year.

Shares of Welspun Specialty Solutions declined 2.25% to Rs 49.02 on the BSE.

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