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Cospower Engineering slides as CFO Hiren Solanki resigns

04-Sep-25 14:33 Hrs IST

Solanki tendered his resignation effective from the close of business hours on 3 September 2025, as per the company's filing. The board is expected to take his resignation on record at the upcoming board meeting.

In a subsequent move, based on recommendations from the nomination & remuneration committee and the audit committee, the board approved the appointment of Maxie Dsouza as the new CFO and key managerial personnel, effective from 4 September 2025.

Dsouza, a B.Com graduate with CAIIB and an MBA in Finance, brings 38 years of experience in the banking sector, having retired as Assistant General Manager (AGM) ' MSME Finance Business Development at a multi-state cooperative bank. He has demonstrated expertise in branch operations, corporate and retail finance, and compliance with RBI regulations. Dsouza is recognized for his strong communication skills, analytical abilities, and commitment to professional ethics.

On a standalone basis, the company reported a net profit of Rs 1.53 crore in FY25, a significant increase from Rs 0.11 crore in FY24. Revenue from operations rose 24.3% year-on-year to Rs 27.70 crore in FY25. As of 4th September 2025, the company's total market capitalisation stood at Rs 101.23 crore.

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Sr No	Start Date	Department	Tender Details	Status
1	02-09-2025	IT	RFP for Procurement of Server
			A. General Information
			B. Technical Bid
			C. Financial Bid
2	21-08-2025	IT	RFP for Procurement of Server	Closed
			A. General Information
			B. Technical Bid
			C. Financial Bid
			D. Technical BID Meeting Link
			E. Financial Bid Meeting Link
3	14-07-2025		RFP document for the Cloud Voice Logger	Closed
			A. General Information
			B. Technical Bid
			C. Financial Bid
			D. Technical BID Meeting Link
			E. Financial Bid Meeting Link
4	01-04-2025	IA	REQUEST FOR PROPOSAL FOR APPOINTMENT OF CONCURRENT INTERNAL AUDITORS FOR PERIOD APRIL 2025 – MARCH 2026
5	01-04-2025	IA	REQUEST FOR PROPOSAL FOR APPOINTMENT OF INTERNAL AUDITORS FOR PERIOD APRIL 2025 – MARCH 2026 - IFCI
6	24-04-2025	IT	RFP for Services of IT Infrastructure Shifting & Configuration	Closed
			A. General Information
			B. Technical Bid
			C. Financial Bid
			D. Pre Bid Meeting Link
			E. Technical BID Meeting Link
			F. Financial Bid Opening
7	18-02-2025	IT	RFP for Procurement of HP Hard Disk	Closed
			A. General Information
			B. Technical Bid
			C. Financial Bid
8	18-02-2025	IT	RFP for Procurement of HP Server	Closed
			A. General Information
			B. Technical Bid
			C. Financial Bid
9	07-12-2024	Administration	RFP for office premises on lease at Chennai	Closed
			A. News Paper Article
			B. General Information
			C. Technical Bid
			D. Financial Bid
			E. Pre Bid Meeting Link
			F. Technical BID Meeting Link
			G. Financial BID Meeting Link
10	10-06-2024	IA	RFP for appointment of internal auditors for period April 2024 – March 2025	Active upto 21/06/2024 end of the day
			A. Request For Proposal
			B. Extension of RFP
11	10-06-2024	IA	RFP for appointment of internal auditors and Concurrent Audit for period April 2024 – March 2025	Active upto 21/06/2024 end of the day
12	22-11-2023	Compliance	Procurement of AML/PML software Solution - VC Meeting Link for opening of Tender Box on 22/11/2023 at 4.30 pm	Closed
13	16-10-2023	Compliance	RFP for Procurement of AML/PML software solution
	06-11-2023	Compliance	A. Addendum - Extension Period for procurement of AML/PML sofware solution
14	28-10-2024	IT	RFP for Procurement of Firewall	Closed
				A. General Information
			B. Technical Bid
			C. Financial Bid
15	12-07-2023	ADMIN	RFP for Premises on Lease for Ahmedabad Branch
			A. Newspaper Aricle
			B. General Information
			C. Technical Bid
			D. Financial Bid
16	07-07-2023	CS	RFP for Secretarial Audit
17	26-06-2023	IT	RFP for AMC of Online UPS system installed at IFINs Branch office	Closed
			A. General Information
			B. Technical Bid
			C. Financial Bid
18	16-06-2023	IT	E-tender for engagement of annual system audit and cyber security audit agency	Closed
			A. General Information
			B. Technical Bid
			C. Financial Bid
19	15-06-2023	IT	RFP for AMC of 30KVA Online UPS system	Closed
			A. General Information
			B. Technical Bid
			C. Financial Bid
20	30-05-2023	ADMIN	RFP for Premises on Lease for Ahmedabad Branch	Cancelled
			A. Newspaper Aricle
			B. General Information
			C. Technical Bid
			D. Financial Bid
			E. Extension of RFP
			F. Closure of RFP
21	24-05-2023	ADMIN	RFP for Premises on Lease for Salem Branch	Closed
			A. Newspaper Aricle
			B. General Information
			C. Technical Bid
			D. Financial Bid
22	24-04-2023	IA	Extension Of RFP iCOM IA for FY 2023-2024	Closed
23	25-04-2023	CS	Extension Of RFP for Seeking Quotations for Secretarial Audit Of IFIN Group for FY 2022-2023	Cancelled
			A. Status_of_RFP_for_secretarila_audit
24	02-05-2023	IA	RFP For Appointment Of Internal Auditor for July 2023 - March 2024	Closed
25	02-05-2023	IA	RFP For Appointment Of Internal Auditor for July 2023 - March 2024 for operations, accounts and control related activities.	Closed
26	24-04-2023	CS	RFP PCS Empannelment for ROC filing 2022-23	Closed
27	24-04-2023	IA	RFP For Appointment Of Internal Auditor iCOM 23-24	Closed
28	14-03-2023	IA	RFP for appointment of internal auditor in the iCOM	Closed
29	25-04-2023	CS	RFP For Secretarial Audit 22-23	Closed