Simplex Castings looks to shore up its ranks as the Bhilai-based manufacturer of casting & engineering company reappointed Sangeeta K. Shah as the company's managing director.
Simplex Reappoints Sangeeta Shah
The company made this information public through an exchange filing filed on September 29. The company, in its statement entitled, 'Intimation Regarding Reappointment of Managing Director Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015' announced the appointment.
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The announcement read, "Pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the members of the Company at the 44th Annual General Meeting held on 28.09.2024, have approved the reappointment of Mrs. Sangeeta K Shah (DIN:05322039) as Managing Director of the company for a further period of Five years with effect from 1st October, 2024, upto 30th September, 2029."
The appointment, as mentioned in the statement, has been made for a period of 5 years.
Who is Sangeeta K. Shah?
The company MD Sangeeta Ketan Shah holds a Master's Degree in Business Administration, or MBA. Shah, according to the company, is an experienced and dynamic entrepreneur.
She is related to the company director and is the wife of Mr. Ketan M. Shah, whole-time director.
Shah, as per corporate shareholdings filed for June 30, 2024, holds 776,297 shares or 11.26 per cent of the equity in Simplex Castings Ltd.
In addition, she is also a member of the Industrial Association, CII, IIF, and Chhattisgarh Skills Development.
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Simplex Casting Earnings
In Q1 of FY25, the company accrued a total operational income of Rs 27.49 crore, compared to Rs 31.47 crore in the quarter right before that. In addition, the company's profit stood at Rs 1.62 crore for the quarter that ended in June. This was higher than the Rs 1.26 crore profit in the quarter before that.
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Simplex Shares
The company shares gained 0.32 per cent or a cumulative Rs 1.00, in the past 5 trading sessions.
This took the overall value of the shares to Rs 311.00 per piece.