Shareholders of Alfa Transformers Limited approved significant board composition changes at their meeting held on Tuesday, July 28, 2026. The approvals included the reappointment of four existing directors and the formal appointment of Jayramrao Marathe as a Non-Executive Non-Independent Director. These decisions were made on the recommendation of the Nomination and Remuneration Committee and disclosed pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Board structure now includes Dillip Kumar Das as Managing Director, who was reappointed for a further period of one year from July 19, 2026, to July 18, 2027, despite having attained the age of 75 years. Debasis Das was reappointed as Whole Time Director for a two-year term commencing March 31, 2026, and ending March 30, 2028. Both directors are liable to retire by rotation.

Independent Directors Rashmi Ranjan Satapathy and Prem Sagar Mishra were each reappointed for a second consecutive term of two years. Their terms commence on July 29, 2026, and conclude on July 30, 2027. Neither director is liable to retire by rotation. Satapathy brings over 17 years of experience in legal and corporate governance matters as a practicing Company Secretary. Mishra contributes 14 years of experience in banking and financial services, having previously worked with Axis Bank Ltd., HDFC Bank Ltd., and the Motilal Oswal Group.

Jayramrao Marathe was appointed as an Additional Director effective July 17, 2026, and formally confirmed as a Director by shareholders for a two-year term. He is categorized as a Non-Executive Non-Independent Director and is liable to retire by rotation. Marathe possesses over 36 years of leadership experience, including a prior role as Joint Managing Director at Madhya Gujarat Vij Co. Ltd. (MGVCL).

Board Appointments Summary

Disclosures and Relationships

The filing discloses that Dillip Kumar Das and Debasis Das are related; Das is the father of Debasis Das. All appointed directors confirmed they are not debarred from holding office by any SEBI order or other authority. Rashmi Ranjan Satapathy, Prem Sagar Mishra, and Jayramrao Marathe have no inter-se relationships with other directors on the Board.

The company’s compliance officer, Choudhury Sanjay Kumar Das, submitted the disclosure to the BSE Limited on July 28, 2026, referencing Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026.

Alfa Transformers shareholders have appointed M/s Goutam & Co, Chartered Accountants (FRN: 326869E), as its Statutory Auditors for a term of five years. The resolution was passed at the company’s 44th Annual General Meeting (AGM) held on July 28, 2026, in Bhubaneswar, Odisha. The appointment covers the period from the conclusion of the 44th AGM until the conclusion of the 49th AGM, ensuring long-term audit continuity for the transformer manufacturer.

The Board of Directors recommended the appointment at its meeting held on May 30, 2026, based on the Audit Committee’s advice. The decision was ratified pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Master Circular dated January 30, 2026 (Ref: HO/49/14/14(7)2025-CFDPOD2/I/3762/2026). Choudhury Sanjay Kumar Das, Company Secretary & Compliance Officer, confirmed that all requisite disclosures were made to BSE Limited.

Auditor Profile and Eligibility

M/s Goutam & Co is a firm of practicing Chartered Accountants with experience in Company Audit, Tax Audit, Internal Audit, Accounting, GST, and Company Law Matters. The firm’s engagement partner for the statutory audit is CA Bijan Sahoo (Membership No. 068643).

The firm holds a valid Peer Review Certificate (No. 016555), issued by the Institute of Chartered Accountants of India (ICAI), which remains valid until April 30, 2027. In its consent letter dated May 29, 2026, the firm declared its eligibility under Sections 139 and 141 of the Companies Act, 2013, confirming no disqualifications or pending proceedings against the firm or its partners.

Governance and Other AGM Outcomes

Alongside the auditor appointment, shareholders approved the strategic sale of the Vadodara manufacturing unit on a going concern basis. This special resolution marks a significant operational shift for the company. The AGM also saw the re-appointment of key leadership roles, including Independent Directors, the Whole Time Director, and the Managing Director, signaling continuity in corporate governance. Mr. Jayramrao Marathe was appointed as an Additional Director in the category of Non-Executive Non-Independent Director, effective July 17, 2026.

Debasis Das, Whole Time Director & CFO, chaired the meeting after being elected Chairman by proposal from Harihara Parida. Das presented the company’s performance for FY26 to the attendees. The meeting included 37 members, along with representatives from the Statutory Auditor, Internal Auditors, and Secretarial Auditors (Madhusudan Das of Saroj Ray & Associates).

Voting Process and Compliance

The company facilitated remote e-voting from July 24, 2026, to July 27, 2026. Members attending physically could vote using the electronic system provided by National Securities Depository Limited (NSDL). Uttam Baral of Saroj Ray & Associates served as the Scrutinizer for the e-voting process. The meeting concluded at 2:45 PM IST. The consolidated voting results and Scrutinizer’s Report were submitted to BSE Limited and the Calcutta Stock Exchange Limited.