Rajora will, however, continue to serve the company as Director (Finance) and remain part of the senior management team, the company said, clarifying that there are no material reasons for his resignation from the CFO position.
Following his exit from the CFO role, Rajora will also cease to be a key managerial personnel authorised to determine the materiality of events and make disclosures to stock exchanges under SEBI regulations.
Based on the recommendation of the Nomination and Remuneration Committee, the board has appointed Mehul Shah as the CFO, effective March 5, 2026.The company informed the exchanges that Shah is a Chartered Accountant with more than 26 years of experience in areas such as strategic accounting, financial operations, fund management, compliance, taxation and corporate governance.
TARIL said he has worked with companies including Nirma Limited, Adani Enterprises Limited, Reliance Logistics Private Limited, Arvind Smart Spaces Limited, Gujarat Ambuja Exports Limited and Asian Granito India Limited.
The company said the board is satisfied that Shah possesses the required qualifications and experience to effectively discharge the responsibilities of the role.
For the December quarter, TARIL reported a 34.5% year-on-year rise in net profit at ₹74 crore from ₹35 crore in the corresponding quarter last year. Revenue increased 32% YoY to ₹737 crore from ₹559 crore. EBITDA surged 49% to ₹125 crore from ₹84 crore last year, and EBITDA margin expanded to 17%, from 15% in Q3FY25.
