Prayasvin Patel Reappointed As CMD Of Elecon Engineering; Chintan Shah Appointed As CFO
Prayasvin Patel has been reappointed as the Chairman and Managing Director (CMD) of Elecon Engineering Company Limited, with effect from July 1, 2026, subject to the approval of the shareholders.
Further, Chintan Shah has been appointed as Chief Financial Officer and Key Managerial Personnel (CFO & KMP) of the Company with effect from April 15, 2026. Aayush Shah has been appointed as Executive Director of the company with effect from October 1, 2026, subject to the approval of the shareholders.
Additionally, Dr. Savan Godiawala has been appointed as a Non-Executive Independent Director (Additional Director) on the Board of Directors of the company with effect from April 15, 2026, subject to the approval of the shareholders.
Prayasvin Patel has over five decades of experience in the engineering and manufacturing industry. He began his career as Sales Director at Prayas Casting Pvt. Ltd. and later joined Elecon Engineering Company as Joint MD. He went on to serve as MD in 1993 and later as CMD in 2006. During his tenure, he led the development of Elecon’s gear division and oversaw the group’s international acquisition of Benzlers-Radicon from David Brown Gear Systems. He also supported the establishment of the Bhanubhai Memorial Centre of Excellence and expansion into bridge construction and ultrasonic testing equipment manufacturing. His experience includes leadership across engineering operations and business expansion initiatives within the group.
Chintan Shah has nearly 19 years of experience in finance and accounts across sectors, including consulting, IT services, engineering, medical devices, and chemicals. He has worked on financial strategy, risk management, project monitoring, listing compliance, and investor relations, while contributing to business initiatives. His experience spans roles in multinational and multicultural organisations, including exposure to Big Four consulting environments. He has worked on business controlling, execution of financial strategies, implementation of systems, and cross-functional coordination. Shah has also been involved in managing stakeholder relationships and supporting organisational processes linked to growth and compliance.
Aayush Shah serves as Chief Executive Officer (CEO) and Executive Director of Power Build Pvt. Ltd. He has experience in operational management and works on business processes and organisational functions. His role includes overseeing operations and engaging with stakeholders. He has exposure to multicultural business environments and works across networks in different markets. His approach includes the use of technology, process improvement, customer engagement, and product development. He holds a degree in mechanical engineering from the Georgia Institute of Technology.
Dr. Savan Godiawala has 34 years of experience in investment banking and financial advisory services. He retired as Partner at Deloitte Touche Tohmatsu India LLP in March 2024. He serves as Visiting Faculty at the Indian Institute of Management (IIM) Ahmedabad and the Indian Institute of Technology (IIT) Gandhinagar. He is an Independent Director on company boards and a member of the investment committee of a private equity fund. He has co-authored a book on business taxation published by McGraw-Hill Education and contributes to professional journals. He holds a PhD in Management and is a Chartered Accountant, with bachelor’s degrees in law and commerce. He is also a qualified insolvency professional and holds a postgraduate diploma in counselling psychology and psychotherapy.
