Andhra Paper Limited Re-appoints Saurabh Bangur as Managing Director for Five-Year Term

Andhra Paper Limited's Board of Directors convened a meeting on May 14, 2026, commencing at 02.45 P.M. and concluding at 04.14 P.M., during which it approved the re-appointment of Mr. Saurabh Bangur (DIN: 00236894) as Managing Director of the Company. The re-appointment is effective from October 1, 2026, for a period of 05 years, running through September 30, 2031, and remains subject to the approval of shareholders at the ensuing general meeting. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Re-appointment Details

The Board's decision followed the recommendation of the Nomination and Remuneration Committee, with Mr. Bangur's existing term as Managing Director scheduled to conclude on September 30, 2026. The key parameters of the re-appointment are outlined below:

Parameter:	Details
Name:	Mr. Saurabh Bangur
DIN:	00236894
Designation:	Managing Director
Re-appointment Effective Date:	October 1, 2026
Term:	05 years (up to September 30, 2031)
Subject To:	Shareholder approval at ensuing general meeting

Profile of Mr. Saurabh Bangur

Mr. Saurabh Bangur is a Commerce graduate with diverse experience spanning operations, marketing, finance, human resources, sustainability, stakeholder engagement, change management, and turnaround strategy. Since his elevation as Managing Director, he has steered the Company through a phase of significant operational and cultural transformation, with a strong focus on strategic growth, operational excellence, and long-term value creation.

His tenure has been marked by several key contributions to the Company's development:

Instrumental in advancing the Company's modernization agenda through Board-approved capital expenditure initiatives
Spearheading the Tissue Machine Project, a flagship initiative aimed at diversifying the Company's product portfolio and strengthening its competitive market positioning
Led the Company's transition toward a high-performance work culture driven by accountability, merit-based incentives, and employee ownership
Maintained a hands-on approach toward corporate governance and operational management, with emphasis on profitability and timely resolution of operational and strategic challenges
Contributed to maintaining industrial harmony and fostering constructive relationships with employees, business partners, and other stakeholders

Director Relationships

As disclosed under Regulation 30 of the SEBI (LODR) Regulations, Mr. Saurabh Bangur is related to Mr. Shree Kumar Bangur (Father) and Mr. Virendraa Bangur (Brother), and is unrelated to other Directors of the Company.

The re-appointment disclosure was filed in accordance with SEBI circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, and was signed by Bijay Kumar Sanku, Company Secretary, on behalf of Andhra Paper Limited.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.87%	-6.04%	+2.13%	-7.34%	-14.55%	+43.28%

Andhra Paper Limited has issued a clarification and corrigendum to its earlier intimation dated May 2, 2026, revising the estimated production loss at its Kadiam Unit from 70 MT per day to 220 MT per day. The correction, filed with stock exchanges on May 5, 2026, acknowledges that the previously reported figure of 70 MT represented only the partial production loss during the strike period, when operations were continuing with limited disruption. Following the declaration of a full lockout effective 10:00 PM on May 1, 2026, the entire daily production capacity at the Kadiam Unit has been affected.

Background: Strike and Lockout Declaration

The industrial unrest at the Kadiam Unit, located in East Godavari, Andhra Pradesh, began on April 27, 2026, when contract workmen engaged through third-party manpower contractors initiated an illegal strike demanding revision of their contractual terms, including higher wages and benefits from their respective employers. Despite repeated appeals from management to resume duties, the striking workers disregarded these efforts. The management subsequently declared a lockout to safeguard employees, plant and machinery, materials, and other assets. The lockout remains in force until further notice.

Parameter:	Details
Strike Location:	Kadiam Unit, East Godavari, Andhra Pradesh
Strike Start Date:	April 27, 2026
Lockout Effective:	10:00 PM on May 1, 2026
Affected Workers:	Contract workmen through third-party contractors
Revised Production Loss:	220 MT per day
Earlier Reported Loss:	70 MT per day (partial, during strike period)

Revised Impact Assessment

The corrigendum clarifies that the 220 MT per day figure represents the estimated daily production based on current operating levels following the full lockout. The company's permanent workforce is not participating in the industrial action, and operations at the Rajahmundry Unit remain completely unaffected. The revised disclosure details as required under Regulation 30 of SEBI (LODR) Regulations are outlined below.

Impact Assessment:	Status
Expected Loss/Damage:	None
Insurance Coverage:	Not applicable (no physical damage to assets)
Revised Production Loss:	220 MT per day
Asset Protection:	All insurable assets adequately covered

Regulatory Compliance and Disclosure

The clarification was submitted by Company Secretary Bijay Kumar Sanku on May 5, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has made the updated information available on its website at www.andhrapaper.com . The disclosure references the SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The company noted that the error in the earlier filing is regretted and requested the exchanges to take the clarification on record.