VPRPL CFO steps down but stays; CS also exits
Amid a ₹131 crore quarterly loss and a junk rating, VPRPL's CFO Sarfaraz Ahmed resigns for health reasons but remains available. New CFO Vinod Kumar Pungliya appointed from July 6. CS Nitisha Jain also quits; Monica Purohit replaces her.
— 3 earlier stories on Vishnu Prakash R Punglia Ltd. →What's new
- CFO Sarfaraz Ahmed resigns for health reasons but stays on for other operations.
- CS Nitisha Jain resigns for personal reasons.
- Both replaced promptly: Vinod Kumar Pungliya (CFO) and Monica Purohit (CS).
Why this matters
For a distressed nano-cap with a ₹131 crore quarterly loss, losing a CFO is worrying. But the orderly transition and the CFO remaining with the firm soften the blow, indicating no abrupt departure.
What we're watching
- Whether the new CFO can arrest the operating losses.
- Any further promoter share pledges or lender actions.
- Clarity on turnaround strategy in next earnings call.
The full read
VPRPL is in deep financial trouble with a ₹131 crore net loss in the March quarter, a junk rating from CARE, and a ₹362 crore market cap that has already absorbed a lot of bad news. So when the CFO and CS resign on the same day, it looks like another blow. But the details matter. CFO Sarfaraz Ahmed isn't leaving entirely; he stays to handle other operations. Both replacements are already in place. Vinod Kumar Pungliya, an outsider unrelated to promoters, takes over as CFO from July 6. Monica Purohit becomes CS a day earlier. For a nano-cap that just lost ₹131 crore in a single quarter, the ability to arrange an orderly leadership change without a total exit is a small sign of stability. It doesn't fix the losses, but it removes one source of uncertainty.
Questions answered
- Why did the CFO resign?
- CFO Sarfaraz Ahmed cited health and personal reasons, but will remain available for other operations, reducing the signaling effect of a total exit.
- Who are the new appointees?
- Vinod Kumar Pungliya, a chartered accountant with 13+ years in corporate banking, takes over as CFO from July 6. Monica Purohit becomes CS from July 1.
- Is the new CFO related to the promoter group?
- The company confirmed that Vinod Kumar Pungliya is not related to the promoter group.
- What is the company's current financial condition?
- VPRPL reported a net loss of ₹131 crore on sales of ₹102 crore in the March 2026 quarter, with trailing revenue down 75% and PAT down 905%. Its market cap is ₹362 crore.
- Are the resignations a sign of deeper trouble?
- Given the company's distress and recent credit downgrade, the resignations are notable, but the orderly handover and CFO's continued availability suggest a planned transition rather than panic.
Vishnu Prakash R Punglia Ltd.
Latest quarter · Mar 2026
Strength & growth
Story so far
All notes on VPRPL →- 30 Jun 2026 · 7:43 PM IST VPRPL CFO steps down but stays; CS also exits
- 19d ago VPRPL promoter Pooja Punglia pledges 700k shares
- 23d ago Lender invokes Pushpa Pungalia's pledged shares in Vishnu Prakash R Punglia
- 26d ago CARE cuts Vishnu Prakash R Punglia's rating to junk after a ₹156 crore cash loss.