The changes will be effective from 10 April 2025 after the completion of the current term of managing director Bharat Puri, the company said in a stock exchange filing.
The board also appointed Puri as a non-executive and non-independent director of the board of the company for a term of three years, commencing from 10 April to 9 April 2028.
Commenting on the announcement, M. B. Parekh, executive chairman of the company, said, “We thank Bharat for his invaluable contribution as managing director for the last 10 years. Pidilite has made substantial progress and created significant shareholder value during his term. The appointments of Sudhanshu and Kavinder as MD and Joint MD will reflect the next phase of the Pidilite leadership journey. I look forward to working with the two of them in building the Pidilite of the future.”
Pidilite Industry is a leading manufacturer of adhesives and sealants, construction chemicals, craftsmen products, DIY (do-it-yourself) products, and polymer emulsions in India.
The company's consolidated net profit jumped 8.22% to Rs 552.42 crore on a 7.63% rise in revenue from operations to Rs 3,368.91 crore in Q3 FY25 over Q3 FY24.
Shares of Pidilite Industries rose 0.05% to currently trade at Rs 2,830 on the BSE.