Sheela Foam CEO Nilesh Sevabrata Mazumdar resigns due to personal reasons
The resignation came into effect on 1 July 2025.
The companys consolidated net profit tumbled 66.7% to Rs 21.49 crore in Q4 FY25 as against Rs 64.62 crore posted in Q4 FY24. Net sales rose 0.5% year on year to Rs 849.60 in Q4 FY25.
Sheela Foam is a leading player in Indias mattress and foam products industry and a leader in Polyurethane (PU) Foam. It has a nationwide presence in manufacturing PU Foam with a track record, since 1971.
Shares of Sheela Foam shed 0.08% to Rs 711 on the BSE.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
12 minutes ago
- India.com
India's most expensive car is not owned by Mukesh Ambani, Gautam Adani or Kumar Mangalam Birla, its price is..., owner is...
Mukesh Ambani eyes major deal! Even Gautam Adani stepped back from race, Reliance to become biggest…, deal is about... Most expensive car of India: We all know about the luxurious lifestyle of India's richest man and the chairman of Reliance Industries, Mukesh Dhirubhai Ambani. From the likes of Rs 15000 crore Antilia to private jets and luxurious car collections, Mukesh Ambani enjoys everything that a rich man in India dreams of. However, do you know the fact that most expensive car of India is not owned by Mukesh Ambani. Yes, contrary to popular belief, Mukesh Ambani does not own the country's most expensive car. Who owns most expensive car of India? It is first worth noting that India's luxury car market is expanding rapidly and is expected to double by 2030. In the world of luxury, there is a car known as Rolls-Royce Phantom EWB, which is known as the most expensive car of India. On a surprising note, the ownership of the most expensive car goes to industrialist Yohan Poonawalla, who owns a highly customised Rolls-Royce Phantom EWB worth Rs 22 crore, featuring a Bohemian Red finish and a solid gold Spirit of Ecstasy. How Rolls-Royce Phantom is special? The Rolls-Royce Phantom comes with luxury features like dual rear infotainment screens, a starlight headliner, ventilated and heated electric seats, and night vision. It is powered by a 6.75-litre twin-turbo V12 engine producing 571 PS and 900 Nm of torque. Who is Yohan Poonawalla? Yohan Poonawalla is the Chairman of Poonawalla Engineering Group viz; Intervalve Poonawalla Ltd, El-O- Matic India Pvt Ltd. Yohan is also a Shareholder in Serum Institute of India Pvt. ltd and Chairman of Poonawalla Financials Pvt Ltd. Other than this, he is also a Director of the Poonawalla Stud Farms and Poonawalla Racing and Breeding. More notably, Yohan is the son of Mr. Zavaray Poonawalla who is the President of the Poonawalla Group. Mr. Zavaray Poonawalla is the co-founder of the Serum Institute of India, which was founded in 1966, as per the official website of Yohan Poonawalla.
&w=3840&q=100)
Business Standard
12 minutes ago
- Business Standard
IndusInd Bank appoints Rajiv Anand as MD & CEO for 3 years, effective Aug
IndusInd Bank on Monday announced that its board has appointed Rajiv Anand as the MD&CEO of the bank for a period of three years, effective from August 25, 2025, to August 24, 2028. Anand's appointment has received approval from the Reserve Bank of India (RBI) but is subject to shareholder approval. Anand was one of three candidates recommended by the bank's board to the RBI for the position of MD&CEO. The RBI had given the board until June 30 to submit its list of candidates for the role. Reports had suggested that Anand, Anup Kumar Saha, and Rahul Shukla were the three names sent to the RBI for approval. Prior to this role, Anand was Deputy MD at Axis Bank, where he led the bank's wholesale banking business and was responsible for driving its digital agenda. He joined Axis Asset Management in 2009 as its founding MD&CEO. In subsequent roles, Anand was appointed president of retail banking at Axis Bank and later joined the board as head of Wholesale Banking. Anand holds a degree in Commerce and is a qualified Chartered Accountant. Anand's appointment as MD&CEO follows the resignation of Sumant Kathpalia, the former MD&CEO of the bank, in April, who took moral responsibility for the accounting lapses at the bank. Additionally, former Deputy CEO Arun Khurana also stepped down in April over the same accounting lapses. In Q4FY25, the bank reported a loss of Rs 2,329 crore after ramping up provisions and reversing incorrectly booked revenue and income entries linked to accounting discrepancies in the derivatives and microfinance segments. The bank's Chief Financial Officer and Chief Human Resources Officer also resigned. After the CEO's resignation, IndusInd Bank formed an executive committee to oversee operations, which received a one-month extension last week. IndusInd Bank reported a 72% year-on-year (Y-o-Y) decline in net profit to Rs 604 crore in Q1FY26, due to higher provisions for retail loans and lower income from both core and non-core operations. Following the bank's earnings, IndusInd Bank's Chairman Sunil Mehta stated that the leadership transition is on track. Mehta added that the bank is actively identifying both internal and external candidates for senior management roles.
News18
22 minutes ago
- News18
IndusInd Bank appoints Rajiv Anand as MD and CEO for 3 years
Agency: PTI Last Updated: New Delhi, Aug 4 (PTI) IndusInd Bank on Monday announced the appointment of Rajiv Anand, former Deputy Managing Director of Axis Bank, as its new MD and CEO. The board, basis approval of the Reserve Bank of India (RBI), have at its meeting held on August 4 approved the appointment of Rajiv Anand as 'Additional Director' in the category of Managing Director and CEO and Key Managerial Personnel of the bank for three years, IndusInd Bank said in a late evening regulatory filing. The appointment is effective from August 25, 2025, up to August 24, 2028, subject to the approval of the shareholders of the bank, it said. He would assume charge at a time when the bank is reeling under a slew of issues stemming from alleged irregularities of the top management in recognising bad loans and trading reverses. Anand retired as deputy managing director of Axis Bank on August 3 upon completion of his third term as a director on the bank's board. He joined Axis Asset Management Co. Ltd. in 2009 as its founding MD and CEO. In his next assignment, he was appointed president of retail banking at Axis Bank. Subsequently, he was inducted into the board of the Axis Bank and took over as the head of wholesale banking. Last month, the RBI extended the tenure of the committee of executives of the bank for one month as IndusInd Bank expected the regulator's clearance for its new MD and CEO by that time. The situation arose following the resignation of MD and CEO Sumant Kathpalia in the wake of accounting lapses costing Rs 1,960 crore to the lender in the 2024-25 fiscal year. The private sector lender in March reported the accounting lapses in the derivative portfolio, estimated to have an adverse impact of approximately 2.35 per cent of the bank's net worth as of December 2024. The original tenure of the Committee of Executives constituted on April 29 was till July 28, 2025. PTI DP RHL view comments First Published: August 04, 2025, 23:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
