Mamata Machinery names new CEO as longtime chief retires
After 40+ years, Apurva Kane will step down in September 2026. Successor Rajashekar Venkat brings multinational capital-equipment experience amid a sharp revenue decline.
— 2 earlier stories on Mamata Machinery Ltd. →What's new
- CEO Apurva N. Kane to retire effective Sep 30, 2026, after over 40 years at the company.
- Rajashekar Venkat, ex-Kennametal and Markem-Imaje, appointed CEO from Oct 1, 2026.
- Board declared a 5% dividend (₹0.5 per share) for the financial year.
Why this matters
A planned leadership change at a micro-cap gives the board time to manage the transition. But the incoming CEO inherits a company with trailing revenue down 34% and zero net profit in the latest quarter. Venkat's multinational background signals a potential push for global scale, but execution is unproven.
What we're watching
- Whether Venkat's strategy shifts focus from packaging machinery to adjacent segments.
- Any early moves to halt the US business decline, which halved in FY26.
- If the dividend signals confidence or is just a routine payout given zero earnings.
The full read
Mamata Machinery is handing over the reins. After more than 40 years with the company, CEO Apurva N. Kane will retire on September 30, 2026, making way for Rajashekar Venkat, a veteran of Kennametal and Markem-Imaje, from October 1. The timing is deliberate, not desperate. That matters because the company is in a rough patch: trailing revenue fell 34%, the latest quarter delivered zero net profit on ₹74 cr of sales, and its US business halved in FY26. The board also declared a 5% dividend, a token that feels more like habit than confidence given the earnings picture. Venkat's multinational background suggests a push to revive international sales. The open question is whether that can happen fast enough to arrest the slide before the new CEO even takes the chair.
Questions answered
- Why is Apurva Kane retiring now?
- The board announced his retirement effective September 30, 2026, after more than 40 years with the company. The planned nature suggests a deliberate succession process.
- What is Rajashekar Venkat's background?
- Venkat previously held senior roles at multinational capital-equipment firms including Kennametal and Markem-Imaje, with over 27 years of experience.
- How is Mamata Machinery performing financially?
- In the latest quarter (Mar 2026), sales were ₹74 cr with zero net profit. Trailing revenue is down 34% and the company had no profit in the last twelve months.
- Why declare a 5% dividend when net profit is zero?
- The dividend of ₹0.5 per share is small relative to the stock price. It may be a token payout from reserves, but it's unlikely to be sustainable without profit recovery.
- Is the CEO transition a surprise?
- No. The retirement is planned and effective more than a year out. While the news was undisclosed, the orderly handover tempers any shock.
Mamata Machinery Ltd.
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All notes on MAMATA →- 6 Jul 2026 · 7:45 PM IST Mamata Machinery names new CEO as longtime chief retires
- 38d ago Mamata Machinery lands European patent for core packaging tech
- 41d ago Mamata's US business halved. The annual numbers are ugly.