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ICRA said that Agarwal will be relieved in due course from the services of the company and from positions of CFO and designated Chief Investor Relations Officer.
Agarwal joined the company in May 2015 as group chief financial officer and he had held a position of interim chief operating officer from 1 July 2019 to 10 August 2020.
The Nomination and Remuneration committee of the company is in the process of identifying the successor for the position of Group chief financial officer.
ICRA is an independent and professional investment information and credit rating agency. The international credit rating agency Moody's Investors Service is ICRA's largest shareholder.
The company reported a 30% rise in net profit to Rs 24 crore on a 14.8% rise in net sales to Rs 82.68 crore in Q2 FY22 over Q2 FY21.
Shares of ICRA ended 2.62% higher at Rs 3500.45 on Friday.
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