Grasim Industries appoints Pavan Jain as new CFO

The Aditya Birla group firm announced the appointment of Pavan Jain as its next chief financial officer with effect from 15 August 2022.

The board of Grasim Industries on Thursday (16 June 2022) based on the recommendation of the nomination and remuneration committee and audit committee, have approved the appointment of Pavan Jain as the next chief financial officer (CFO) and key managerial personnel of the company with effect from 15th August 2022.

Jain's appointment comes in the wake of Ashish Adukia's plan to pursue career opportunities outside the Aditya Birla Group. He will be relieved from his current responsibilities as chief financial officer of the company with effect from 14th August 2022.

Pavan Jain is a Fellow Member of the Institute of Chartered Accountants of India and an Associate Member of the Institute of Company Secretaries of India. He has undergone Executive Development Program of The Wharton School, University of Pennsylvania, USA.

Jain has been with the Aditya Birla Group since 1991. Presently he is the Senior President, Grasim Industries and has a stellar career track record spanning over three decades in the Group in different stints with Birla White, Grey Cement and Grasim.

Grasim Industries is a leading diversified player with leadership presence across many sectors. It is a leading global producer of viscose staple fibre, the largest chlor-alkali, linen and insulators player in India. Through its subsidiaries, UltraTech Cement and Aditya Birla Capital, it is also India's largest cement producer and a leading diversified financial services player. Grasim has also announced foray in decorative paints business.

The company's consolidated net profit rose 61.89% to Rs 2,777.15 crore on 18.07% rise in net sales to Rs 28,811.39 crore in Q4 March 2022 over Q4 March 2021.

Shares of Grasim Industries fell 3.55% to Rs 1284.60 on Thursday.

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