Alkem Laboratories slides after CFO Nitin Agrawal resigns
He will cease to hold the position of senior management personnel with effect from 30 September 2026.
In his resignation letter, Agrawal said he had decided to step down to pursue professional opportunities that align more closely with his long-term professional and personal growth.
Agrawal said he would continue to support the management to ensure a seamless handover of ongoing strategic initiatives and would serve through 30 September 2026.
During his tenure, Agrawal said he supported the group's strategic initiatives, including building the MedTech business, the acquisition of Adroit, creation of Alkem Wellness, formation of a Saudi joint venture and acquisition of Bombay Ortho.
He also mentioned the liquidation of idle assets, including the Indore SEZ plant, improving returns on treasury income and implementing new UCPMP marketing guidelines in the domestic market. More recently, he led the acquisition of Occlutech.
The company did not provide details of Agrawal's successor in the exchange filing.
Alkem Laboratories is engaged in the pharmaceutical business with global operations. The company is engaged in the development, manufacture, and sale of pharmaceutical and nutraceutical products.
The company had reported 21.72% fall in consolidated net profit to Rs 519.95 crore despite a 10.95% rise in revenue to Rs 3,740.15 crore in Q1 FY27 over Q1 FY26.
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