Cospower Engineering slides as CFO Hiren Solanki resigns

Cospower Engineering slipped 3.59% to Rs 674.85 after the company announced the resignation of its chief financial officer (CFO), Hiren Solanki.

Solanki tendered his resignation effective from the close of business hours on 3 September 2025, as per the company?s filing. The board is expected to take his resignation on record at the upcoming board meeting.

In a subsequent move, based on recommendations from the nomination & remuneration committee and the audit committee, the board approved the appointment of Maxie Dsouza as the new CFO and key managerial personnel, effective from 4 September 2025.

Dsouza, a B.Com graduate with CAIIB and an MBA in Finance, brings 38 years of experience in the banking sector, having retired as Assistant General Manager (AGM) ? MSME Finance Business Development at a multi-state cooperative bank. He has demonstrated expertise in branch operations, corporate and retail finance, and compliance with RBI regulations. Dsouza is recognized for his strong communication skills, analytical abilities, and commitment to professional ethics.

On a standalone basis, the company reported a net profit of Rs 1.53 crore in FY25, a significant increase from Rs 0.11 crore in FY24. Revenue from operations rose 24.3% year-on-year to Rs 27.70 crore in FY25. As of 4th September 2025, the company?s total market capitalisation stood at Rs 101.23 crore.

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