Wires & Fabriks reshuffles leadership as profitability stays under pressure
Devesh Khaitan will take over as Managing Director in 2027, while Pramod Agarwal joins immediately as CFO to fill a recent vacancy.
— 2 earlier stories on Wires & Fabriks (S.A.) Ltd. →What's new
- Devesh Khaitan named MD for a five-year term starting April 2027.
- Dr. Mahendra Khaitan to transition to Vice Chairman after his current term ends.
- Pramod Agarwal appointed CFO with immediate effect.
Why this matters
For a company with a market cap of just ₹47 crore, changes to key managerial personnel are material. The immediate appointment of a new CFO provides necessary stability, though the firm remains under significant profitability pressure.
What we're watching
- Whether the new CFO can stabilize the company's financial performance.
- Any further shifts in corporate strategy under the incoming MD.
- The impact of the leadership transition on the company's small-cap valuation.
The full read
Wires & Fabriks is restructuring its leadership team as it navigates a period of persistent profitability pressure. The board named Devesh Khaitan as the new Managing Director for a five-year term beginning in April 2027. He will succeed Dr. Mahendra Khaitan, who moves to the role of Vice Chairman. The company also filled a critical vacancy in its finance department by appointing Pramod Agarwal as CFO with immediate effect. These changes, alongside the re-appointment of Kishan Kumar Khaitan as Chairman, arrive at a time when the ₹47 crore market-cap firm faces operational headwinds. While the MD transition follows a long-term succession plan within the promoter family, the immediate arrival of a new finance head is a more pressing development. For a nano-cap entity, the stability of the executive hierarchy is the primary test.
Questions answered
- Who is the new Managing Director and when do they start?
- Devesh Khaitan is the incoming Managing Director. His five-year term begins in April 2027.
- What happens to the current Managing Director?
- Dr. Mahendra Khaitan will transition to the role of Vice Chairman once his current term as Managing Director concludes.
- Who is the new CFO and why was the position vacant?
- Pramod Agarwal is the new CFO, appointed with immediate effect. The position was vacant following the recent resignation of the previous finance head.
- What is the broader context for these leadership changes?
- The company is currently managing a period of significant profitability pressure. These changes are part of a broader board-level restructuring that also includes the re-appointment of Kishan Kumar Khaitan as Chairman.
Story so far
All notes on WIREFABR →- 28 May 2026 · 5:01 PM IST Wires & Fabriks reshuffles leadership as profitability stays under pressure
- today Wires & Fabriks profit plunges 82% as costs erode revenue gains
- today Wires & Fabriks profit drops 82% as costs erode margins