Grasim Industries appoints Pavan Jain as new CFO

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The Aditya Birla Group Company has announced the appointment of Pavan Jain as Chief Financial Officer effective August 15, 2022.

The Grasim Industries Board of Directors on Thursday (June 16, 2022), based on the recommendation of the Nomination and Remuneration Committee and the Audit Committee, approved the appointment of Pavan Jain as the next Chief Financial Officer ( CFO) and key management personnel of the company with effect from August 15, 2022.

Jain’s appointment follows Ashish Adukia’s plan to pursue career opportunities outside the Aditya Birla group. He will be removed from his current role as the company’s chief financial officer effective August 14, 2022.

Pavan Jain is an associate member of the Institute of Chartered Accountants of India and an associate member of the Institute of Company Secretaries of India. He completed the Executive Development Program at the Wharton School, University of Pennsylvania, USA.

Jain has been part of the Aditya Birla Group since 1991. He is currently Senior Chairman of Grasim Industries and has an outstanding career spanning over three decades with the group in different stints with Birla White, Gray Cement and Grasim.

Grasim Industries is a leading diversified player with a leading presence in many sectors. It is one of the world’s leading producers of viscose staple fibers, the largest player in chlor-alkali, flax and insulation in India. Through its subsidiaries, UltraTech Cement and Aditya Birla Capital, it is also the largest cement producer in India and a major player in diversified financial services. Grasim also announced a foray into the decorative paint business.

The company’s consolidated net profit increased by 61.89% to Rs 2,777.15 crore on an 18.07% increase in net sales to Rs 28,811.39 crore in Q4 March 2022 compared to Q4 March 2021 .

Grasim Industries shares fell 3.55% to Rs 1,284.60 on Thursday.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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