Elecon Engineering Company Approves Appointment of Additional Director and Restructures Board Committees
Elecon Engineering Company Limited announced that its Board of Directors approved the appointment of Mr. Pranav C. Amin as an Additional Non-Executive and Independent Director. Furthermore, the board meeting held on June 22, 2026, saw the re-constitution of key committees within the company.The decision to appoint Mr. Pranav C. Amin was made based on the recommendation of the Nomination & Remuneration Committee. He is set to assume the role effective from June 22, 2026, and his appointment is subject to ratification by the Members of the Company through a Special Resolution.
Mr. Amin will serve for his second term of five consecutive years and is not liable to retire by rotation. Prior to this appointment, Mr. Amin had ceased to be a Director effective May 27, 2026, following the expiration of his first five-year term that ended on May 26, 2026.
Mr. Pranav C. Amin possesses a strong background in management and finance. He holds degrees in Economics/Industrial Management from Carnegie Mellon University in Pittsburgh, USA, and an MBA specializing in International Management from The American Graduate School of International Management Thunderbird, USA. Professionally, he serves as the Managing Director of Alembic Pharmaceuticals Limited, where his leadership style is described as fostering involvement, empowerment, and autonomy among his team.
The company also detailed the updated composition of its various committees following the board meeting held on June 22, 2026.
Details of Appointed Director
| Detail | Mr. Pranav C. Amin (DIN: 00245099) |
|---|---|
| Reason for change | Appointment |
| Date of appointment | Effective from June 22, 2026 |
| Term of Appointment | Second term of five consecutive years; not liable to retire by rotation. |
| Brief Profile | Holds degrees in Economics/Industrial Management (Carnegie Mellon University) and MBA (The American Graduate School of International Management Thunderbird). Currently Managing Director at Alembic Pharmaceuticals Limited. |
| Relationships Disclosure | He is not related to any existing Directors of the Company. |
Committee Composition Update
The board meeting resulted in the review and update of the composition for three critical committees: the Audit Committee, the Nomination & Remuneration Committee, and the Corporate Social Responsibility (CSR) Committee.Details of the committee members are provided below:
Audit Committee
| Sr. No. | Name of the Committee Members | Designation |
|---|---|---|
| 1 | Mr. Ashutosh A. Pednekar (Independent & Non-Executive Director) | Chairman |
| 2 | Mr. Nirmal P. Bhogilal (Independent & Non-Executive Director) | Member |
| 3 | Mr. Pradip M. Patel (Non-Independent & Non-Executive Director) | Member |
| 4 | Mr. Pranav C. Amin (Independent & Non-Executive Director) | Member |
Nomination & Remuneration Committee
| Sr. No. | Name of the Committee Members | Designation |
|---|---|---|
| 1 | Mr. Nirmal P. Bhogilal (Independent & Non-Executive Director) | Chairman |
| 2 | Mrs. Natasha K. Treasurywala (Independent & Non-Executive Director) | Member |
| 3 | Mr. Pradip M. Patel (Non-Independent & Non-Executive Director) | Member |
| 4 | Mr. Pranav C. Amin (Independent & Non-Executive Director) | Member |
Corporate Social Responsibility Committee
| Sr. No. | Name of the Committee Members | Designation |
|---|---|---|
| 1 | Mr. Pranav C. Amin (Independent & Non-Executive Director) | Chairman |
| 2 | Mr. Prayasvin B. Patel (Non-Independent & Executive Director) | Member |
| 3 | Mr. Prashant C. Amin (Non-Independent & Non-Executive Director) | Member |
ELECON Stock Price Movement
Today, Elecon Engineering Company Limited shares climbed, closing at ₹546.8 after the equity gained 1.44%. The stock saw a trading volume of 627,505 shares as it settled on this positive note.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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