Foseco India has appointed Prasad Chavare (DIN: 08846863) as an Additional Director on the Board of the Company with effect from 6 May 2021, pursuant to the provisions of Section 152 and 161 of the Companies Act 2013. Consequently, Chavare has also been appointed and designated as the Managing Director and Chief Executive Officer (MD & CEO), for a period of 5 years with effect from 1 June 2021 up to 31 May 2026.

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Net profit of Foseco India rose 52.47% to Rs 9.27 crore in the quarter ended March 2021 as against Rs 6.08 crore during the previous quarter ended March 2020. Sales rose 22.45% to Rs 88.51 crore in the quarter ended March 2021 as against Rs 72.28 crore during the previous quarter ended March 2020.

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Foseco India will hold a meeting of the Board of Directors of the Company on 6 May 2021..

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The Board of Foseco India at its meeting held on 19 February 2021 has approved the appointment of Mohit Mangal, as the Chief Financial Officer (CFO) in place of R Umesh,the current CFO.

R Umesh will be relieved of the charge as the CFO, on close of business hours on 19 February 2021, and Mohit Mangal will assume the charge as the CFO, with effect from 20 February 2021.

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