The Board of Directors of HIL Limited at its meeting held on July 15, 2023 approved the resignation of Mr. Saikat Mukhopadhyay as Chief Financial Officer of the Company with effect from July 23, 2023. His last working day shall be October 11, 2023 to ensure smooth transition. The company also approved the appointment of Mr. Ajay Kapadia as Chief Financial Officer of the Company effective July 24, 2023.

Mr. Ajay Kapadia is a senior finance professional with proven track record that spans across accounts and finance at various esteemed organizations. He joined HIL Limited in 2017 to lead Growth & Strategy of the Company driving Strategy, M&A and Investor Relations: scripting HIL’s successful foray in Europe by acquiring Parador, a leading wooden flooring brand at Germany in 2018, divestment of noncore business, industrial insulation products, of the Company in 2020 and acquisition of AAC Blocks business of FastBuild at Odisha in 2022. Since 2020, he has also led finance and accounts functions of HIL Limited.

He has over 23 years of experience in India and overseas in field of Accounts and Finance in organizations such as Metrod, Johnson Diversey, ABB and Alembic Pharmaceuticals. Mr. Ajay holds a Bachelors and Master’s degree in Commerce from the Maharaja Sayajirao University of Baroda and is a Chartered Accountant as well as Cost & Management Accountant.