Sarthak Metals Limited, a company listed under Scrip Code 540393 on the BSE and Scrip Symbol SMLT on the NSE, has formally announced the resignation of its Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), Mr. Anirudh Singhal. The announcement was made through a stock exchange filing dated August 2, 2025, under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in compliance with regulatory norms.

Resignation of Mr. Anirudh Singhal – CFO and KMP

In the official communication submitted to the BSE and NSE, Sarthak Metals stated that Mr. Anirudh Singhal has tendered his resignation from the post of Chief Financial Officer and Key Managerial Personnel. His last working day was July 31, 2025, and he has been relieved from his duties effective from the close of business hours on the same day.

The company expressed deep appreciation for Mr. Singhal's contributions and services during his tenure. As per the SEBI-compliant disclosure, there are no material reasons for his resignation beyond the stated decision.

Regulatory Compliance Under SEBI Guidelines

Following the requirements under Regulation 30 of SEBI LODR, 2015, read with SEBI circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, the company included Annexure – A, summarizing the resignation details. The information provided in the annexure is as follows:

• Reason for Change – Resignation: Resignation from the post of CFO and KMP of the Company

• Date of Cessation: Close of business hours on July 31, 2025

• Brief Profile (in case of appointment): Not Applicable

• Disclosure of Relationships between Directors (in case of appointment): Not Applicable

The company further clarified that it had received confirmation from Mr. Singhal that there were no material reasons behind his resignation, which aligns with SEBI’s requirement for transparency and investor assurance.

Future Course of Action

In the disclosure, Sarthak Metals Limited also confirmed that it is in the process of appointing a new CFO, and this appointment will be disclosed to the stock exchanges in due course, in full compliance with applicable laws and SEBI regulations.

The CFO’s role is critical, particularly for a publicly traded company. The position involves financial planning, risk management, record-keeping, and financial reporting. The company must fill this position promptly to maintain operational continuity and financial governance standards.

Implications for Investors and Stakeholders

For stakeholders, this development is important. A change in key leadership, especially in the finance department, can impact investor sentiment, affect internal controls, and raise questions about strategic direction. However, given the company's transparent disclosure and the assurance that the departure is not linked to any internal disputes or concerns, the transition appears routine.

The market will now watch how quickly Sarthak Metals:

• Appoints a suitable and qualified replacement

• Communicates the same through official filings

• Maintains its financial discipline and reporting consistency during the interim period

Given the ever-increasing emphasis on corporate governance and transparency, this event reflects the importance of companies strictly adhering to SEBI guidelines not just for regulatory purposes but also to uphold investor confidence.

Corporate Governance and SEBI Compliance

By disclosing the resignation promptly and in the format mandated by SEBI Regulation 30, Sarthak Metals Limited has reinforced its commitment to good governance practices. The information shared in Annexure – A as part of the filing ensures that all critical elements like date of cessation, reason for resignation, and materiality disclosure have been covered.

This shows the company’s intent to comply with:

• BSE circular LIST/COMP/14/2018-19

• NSE circular NSE/CML/2018/24 dated June 20, 2018

Such compliance builds credibility in the capital markets and provides clarity to investors, analysts, and regulatory bodies tracking the company’s performance and governance structure.

Final Thoughts

The resignation of Mr. Anirudh Singhal as CFO and KMP of Sarthak Metals Limited, effective July 31, 2025, marks a leadership change in the company’s financial management team. With no material reasons cited for the resignation, and the company’s assurance to announce a successor soon, this transition is likely procedural rather than strategic.

However, for a company of Sarthak Metals' stature, especially being a publicly listed entity on both BSE and NSE, such changes carry weight and warrant close monitoring. The market response will depend on how swiftly and transparently the company fills this key vacancy and how it continues to deliver on its financial and strategic commitments in the coming quarters.

As of now, Sarthak Metals Limited has complied with all disclosure norms and set the stage for a smooth CFO transition. Stakeholders are advised to stay updated through the company’s forthcoming disclosures, which will likely include the announcement of a new Chief Financial Officer in alignment with SEBI LODR Regulations.

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