Surya Roshni Slips 18% on Heavy Volumes & Many Changes in Board under Process

Shares of Surya Roshni slipped 18% + to Rs 478.00, hitting an over six-month low on the BSE in today's intra-day trade on the back of heavy volumes.

1. On October 21 is was Rs 829 & on 3 January 22 it's ends with 517.75%
2. Last Three months, the market price of Surya Roshni has declined 40%
3. EBIDTA margins declined to 5.24% from 7.35% in the previous year quarter
4. Continuous input cost pressures, prolonged rains across the country and higher shipping freight due to shortage of containers and port congestion kept the margins suppressed

Key Changes in the Management 

1. Nirupam Sahay who joined on November 2020 has resigned from his position of the Executive Director & CEO. He will be relived by 28 Feb 2022. He has over 28 years of experience, in Philips Lighting, GE Capital-SBI Card, Whirlpool, and Asian Paints. graduated in Economics Honours from St. Stephen's College, Delhi. He has done his MBA from NMIMS, Mumbai, and completed an Advanced Management Program at The Wharton School
2. Seeking approval of the members for the appointment of Puja Surya as Director, liable to retire by rotation
3. Seeking approval of the members for appointment of Smt. Puja Surya (DIN — 00515718), as Whole-time Director of the Company for a period of 5 years
4. Seeking approval of the members for appointment of Shri Ravinder Kumar Narang (DIN — 02318041) Independent Director of the Company, as Non-Executive; Non-Independent Director liable to retire by rotation
5. Seeking approval of the members for appointment of Smt. Urmil Agarwal (DIN— 00053809), existing Director of the Company as Non-Executive; Non-lndependent Director not liable to retire by rotation.

Please find the board resolution below