Sula Vineyards announces resignation of its Chief Financial Officer

Sula Vineyards Limited, India's largest and only listed wine producer, with over 50 per cent share in the domestic wine business, announced that it has taken on record the resignation of its Chief Financial Officer Mr. Bittu Varghese to explore opportunities outside of the Company.

Commenting on the development, Rajeev Samant, CEO - Sula Vineyards, said, "It's been a pleasure working with Bittu over the years. I would like to thank him for his immense contribution and for playing a key role in managing finance (including Accounts, Tax, Treasury, Secretarial) of the Company for over 4 years and being instrumental in the success of the Company. He has also played a pivotal role in the recently concluded IPO of the Company."

He also added, "We wish Bittu all the very best as he explores an exciting opportunity outside of Sula. We are deeply grateful that he will oversee the finalisation of the FY23 accounts, being our first financial year as a listed company. We are immediately kicking off the search for our new CFO and are hopeful that they can be on board in time for a smooth handover from Bittu."

Mr. Varghese will continue to be associated in his current role as the CFO till June 9, 2023. The Company will keep all the stakeholders notified as soon as a replacement for Mr. Varghese is identified.

Shares of Sula Vineyards Limited was last trading in BSE at Rs. 353.10 as compared to the previous close of Rs. 358.70. The total number of shares traded during the day was 26905 in over 1531 trades.

The stock hit an intraday high of Rs. 359.65 and intraday low of 344.80. The net turnover during the day was Rs. 9504926.00.

Source : Equity Bulls

Keywords

SulaVineyards INE142Q01026 Breweries Distilleries Resignation CFO