What’s new

• Pintu and Prashant Kalavadia assume roles as managing and executive directors.
• Jagdish Pambhar replaces Ashish Satani as the company's new CFO.
• The registered office is moving from Mumbai to Rajkot, Gujarat.

Why it matters

Management turnover on this scale is the inevitable consequence of a formal change in control. Selling non-core assets to fund operations suggests the new leadership is prioritizing liquidity as it takes the helm. The clean audit opinion provides a stable baseline for this transition.

What we’re watching

• Operational results under the new management team in the coming quarters.
• Completion of the registered office migration to Rajkot.
• Impact of the land sale on the company's liquidity position.

The full read

SJ Corporation has finalized its leadership overhaul following a formal change in control. New promoters Pintu Kanjibhai Kalavadia and Prashant Kanjibhai Kalavadia have assumed the roles of managing director and executive director, respectively. The board also accepted the resignation of the previous promoter group and independent directors to make room for this new management slate. The corporate churn extends to the finance office, where Jagdish Pambhar has replaced Ashish Satani as CFO. To address immediate cash needs, the company cleared the sale of a land parcel in Kosmada, Surat, for ₹1.40 crore. This capital is earmarked for working capital requirements. Alongside these changes, the company is shifting its registered office from Mumbai to Rajkot, Gujarat. Despite the flurry of restructuring, the firm’s financial results for the year ended March 31, 2026, received an unmodified opinion from auditors SDBA & Co. The transition is now complete. It is time to see how the new team executes.

Primary source: BSE · NSE