Asahi Songwon Colors Limited has appointed Maulik P. Shah as its Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective July 7, 2026. The appointment was approved by the company’s Board of Directors based on the recommendations of the Nomination and Remuneration Committee and the Audit Committee.
A qualified Chartered Accountant and a member of the Institute of Chartered Accountants of India (ICAI), Maulik brings over two decades of experience in corporate finance, treasury, financial planning and analysis, budgeting, foreign exchange management, mergers and acquisitions, internal financial controls, and commercial finance. Throughout his career, he has led finance transformation initiatives while strengthening governance and financial operations across large manufacturing organizations.
Before joining Asahi Songwon Colors, Maulik served as General Manager – Accounts at AIA Engineering Limited, where he was responsible for treasury management, consolidated financial reporting, investor relations support, insurance, and strategic finance projects. Prior to that, he spent nearly sixteen years with Johnson Controls–Hitachi Air Conditioning India Limited, holding several finance leadership roles, most recently as General Manager – Accounts & Audit.
As part of the Board’s decisions, the company also authorised Gokul M. Jaykrishna (Managing Director), Maulik P. Shah (Chief Financial Officer), and Joseph Saji Varghese (Company Secretary & Compliance Officer) as the Key Managerial Personnel responsible for determining the materiality of events and making disclosures to the stock exchanges under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Maulik’s appointment comes at a time when Asahi Songwon Colors continues to strengthen its financial leadership and governance framework. His extensive experience across treasury, strategic finance, financial controls, and business planning is expected to support the company’s long-term growth objectives and operational excellence.
