Asahi Songwon Colors appoints Rupesh Shah as Independent Director

Asahi Songwon Colors Ltd has appointed Mr. Rupesh Chandrakant Shah as an Independent Director following the conclusion of its postal ballot process. The special resolution regarding his appointment was passed with 99.99% of the votes polled in favour. The voting process was conducted through remote e-voting, overseen by scrutinizer Naveen Kumar Mandovara of S. Sharda & Associates.

The appointment was part of a special resolution detailed in the Notice of Postal Ballot dated March 31, 2026. The company informed the exchanges of the outcome on June 30, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The remote e-voting period commenced on May 30, 2026, and concluded on June 28, 2026, with the record date set as May 22, 2026.

Voting Results

The resolution received strong support from shareholders, with 7,949,521 votes cast in favour and 664 votes against. A total of 7,950,185 valid votes were polled.

Category	Votes Polled	In Favour	% In Favour	Against	% Against
Promoter and Promoter Group	7,887,333	7,887,333	100.00	0	0.00
Public-Institutions	0	0	0.00	0	0.00
Public-Non Institutions	62,852	62,188	98.94	664	1.06
Total	7,950,185	7,949,521	99.99	664	0.01

Scrutinizer Report

Naveen Kumar Mandovara, a practicing Chartered Accountant and Partner at S. Sharda & Associates, was appointed as the scrutinizer to ensure the postal ballot process was conducted fairly. The report confirmed that the votes were cast exclusively through the remote e-voting facility provided by National Securities Depository Limited (NSDL), with no physical ballot forms dispatched. The scrutinizer's report was issued to the company on June 29, 2026.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.90%	-1.57%	-2.10%	-3.45%	-42.20%	-25.04%

Asahi Songwon Colors Limited has accepted the resignation of Gokul Mrugesh Jaykrishna from the position of Chief Executive Officer (CEO) effective May 26, 2026. The resignation is attributed to future growth, leadership development, succession planning, and the long-term strategic objectives of the company. Despite stepping down as CEO, Jaykrishna retains his role as Managing Director and continues to be actively involved in the management and strategic affairs of the company.

The company submitted the disclosure to the stock exchanges pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing clarified that the resignation is limited to the office of CEO only, resulting in no change to Jaykrishna's position on the Board of Directors.

Succession Details

In a letter to the Board, Jaykrishna expressed satisfaction with the transition, noting that he is handing over the CEO role to his son, Arjun Jaikrishna. The incoming CEO is a 30-year-old chemical engineer trained at Northwestern University. Jaykrishna described the succession as ahead of schedule and expressed confidence in the new leadership's ability to drive the company toward higher Return on Capital Employed (ROCE) growth.

Regulatory Disclosures

The filing provided details regarding Jaykrishna's other directorships and committee memberships. He holds directorships in Asahi Songwon Colors Limited, Arvind Limited, and The Anup Engineering Limited. His committee memberships include the Audit Committee and Nomination and Remuneration Committee at Arvind Limited, and multiple committees at The Anup Engineering Limited, including the Audit, Nomination and Remuneration, Corporate Social Responsibility, and Stakeholders Relationship Committees.

Sl No.	Particulars	Information
1	Reason for Change	Resignation due to future growth, leadership development, succession planning and long-term strategic objectives
2	Date of Resignation	May 26, 2026
3	Brief Profile	Not Applicable
4	Disclosure of relationships	Not Applicable
5	Letter of Resignation	Enclosed herewith
6	Directorships	Asahi Songwon Colors Limited, Arvind Limited, The Anup Engineering Limited
7	Additional Information	Continues as Managing Director; no change in position on the Board of Directors