Alkem Laboratories shares fall over 2% after CFO Nitin Agrawal resigns

Fresh updates from the financial markets indicate that Shares of Alkem Laboratories declined in afternoon trade on Thursday after the firm announced the resignation of its Chief Financial Officer and Key Managerial Personnel Nitin Agrawal.

The stock declined as much as 2.04%, or Rs 110.50, to Rs 5,307 on the NSE at 12:44 pm. It was trading at Rs 5,318, down 1.84%, at 12:53 pm.

The firm, in an exchange filing on September 24, stated Agrawal had resigned from his position on July 30, 2026, to pursue new professional opportunities. He will cease to hold the position of Senior Management Personnel at Alkem Laboratories effective September 30, 2026.

In his resignation letter, Agrawal stated serving as CFO of Alkem Laboratories over the last few years had been "a great honour" and that he would always look back on the stint with gratitude.

He thanked the Board of Directors for entrusting him with several strategic mandates, including "building the MedTech business from the ground up, the acquisition of Adroit, the creation of Alkem Wellness, the formation of the Saudi joint venture and the acquisition of Bombay Ortho."

Agrawal additionally stated he was privileged to backing the liquidation of idle assets such as the Indore SEZ plant, the enhancement of returns on treasury income and the implementation of the new UCPMP marketing guidelines in the domestic market. He additionally recently led the acquisition of Oculotech.

"This has not been an easy decision. That stated, I have chosen to step down to pursue new professional opportunities that align more closely with my long-term professional and personal expansion," Agrawal stated in his resignation letter.

He further noted that he would stay committed to supporting the management in ensuring a seamless handover of all ongoing strategic initiatives and would serve through September 30.