Laxmi Organic Industries CFO Mahadeo Karnik Resigns; Harshvardhan Goenka Appointed Interim CFO
Laxmi Organic CFO Mahadeo Karnik resigns
Business Standard
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Mahadeo Karnik, the Chief Financial Officer of Laxmi Organic Industries, has resigned effective April 13, 2026. Harshvardhan Goenka, the executive director, will serve as interim CFO starting April 14, 2026, while a successor is expected to be appointed by June 15, 2026.
- 01Mahadeo Karnik resigns as CFO effective April 13, 2026.
- 02Harshvardhan Goenka appointed as interim CFO from April 14, 2026.
- 03A successor for the CFO role is expected to join by June 15, 2026.
- 04Laxmi Organic's net profit fell by 13.3% to ₹25.41 crore in Q3 FY26.
- 05Company's stock declined by 0.75% to ₹125.10 on the Bombay Stock Exchange.
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Laxmi Organic Industries has announced the resignation of its Chief Financial Officer (CFO), Mahadeo Karnik, effective April 13, 2026. The company's board expressed appreciation for his contributions during his tenure. Harshvardhan Goenka, the executive director, will take over as interim CFO starting April 14, 2026, until a permanent successor is appointed. The company has already identified a candidate for the CFO role, who is expected to join by June 15, 2026. Laxmi Organic, a prominent manufacturer of acetyl and specialty intermediates, reported a 13.3% decline in consolidated net profit to ₹25.41 crore for Q3 FY26, alongside an 8.6% drop in revenue from operations to ₹718.68 crore compared to Q3 FY25. Following the announcement, the company's stock price fell by 0.75% to ₹125.10 on the Bombay Stock Exchange.
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The resignation of the CFO and the subsequent leadership transition may affect investor confidence and stock performance, potentially impacting shareholders and employees at Laxmi Organic.
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