Wendt India has announced that Ninad Gadgil, its Executive Director and CEO, will be stepping down from his role effective end of business hours on September 15, 2025. The decision comes as Gadgil looks to pursue new career opportunities outside the company.
The company formally received his resignation and shared the required disclosure under Regulation 30 of the SEBI Listing Regulations. A copy of the resignation letter has also been submitted as part of regulatory compliance.
Gadgil’s exit was discussed and approved during the Board of Directors meeting held on July 21, 2025, which commenced at 12:30 p.m. and concluded at 2:10 p.m.
Wendt India has clarified that the resignation is voluntary and solely driven by Mr. Gadgil’s decision to explore new professional avenues. The company has not yet announced a successor or interim CEO.
There are no other disclosures applicable under the BSE and NSE circulars for such corporate changes. Since the change does not involve a new appointment, no profile or director relationships have been shared.
In the meantime, Wendt India also reported its Q1 FY26 results for the quarter ended June 30, 2025. The company posted a revenue of ₹52.17 crore, up 6.3% from ₹49.06 crore in the same quarter last year. However, net profit dropped sharply by 51% YoY to ₹3.78 crore from ₹7.68 crore. EBITDA for the quarter stood at ₹7.3 crore, down from ₹10.5 crore a year ago, with EBITDA margin narrowing to 13.95% from 21.5%. The results indicate rising costs and weaker operating performance during the period.
