Avance Technologies appoints Santosh Hambare as Managing Director

Avance Technologies has restructured its leadership by appointing Santosh Hambare as Managing Director and Chief Financial Officer effective June 30, 2026. The Board of Directors also approved the appointment of Dipak Gaikwad as an additional Non-Executive and Independent Director. These changes are aimed at meeting operational requirements and strengthening corporate governance.

The Board meeting, held on June 30, 2026, approved the change in designation of Latesh Poojary from Managing Director to Non-Executive Director. Santosh Hambare has been appointed as Managing Director for a period of five years, subject to the approval of members at the next general meeting or within three months from the date of appointment, whichever is earlier. He will also serve as the Chief Financial Officer until his resignation or cessation in accordance with applicable laws.

Dipak Gaikwad was appointed as an additional Non-Executive and Independent Director for a five-year term, also subject to shareholder approval within the same regulatory timeframe. The appointments are intended to broaden the Board's professional expertise and enhance independent oversight in line with the company's long-term growth strategy.

Key Appointments and Designations

Name	New Designation	Term	Effective Date
Santosh Hambare	Managing Director	5 years	June 30, 2026
Santosh Hambare	Chief Financial Officer	Until resignation/cessation	June 30, 2026
Dipak Gaikwad	Independent Director	5 years	June 30, 2026
Latesh Poojary	Non-Executive Director	NA	June 30, 2026

Santosh Hambare is an accounting professional with experience in managing core accounting functions and maintaining financial records. He holds directorship at Aris International Limited. Dipak Gaikwad's appointment is expected to bring strategic insights and independent judgment to the Board. Both appointees have confirmed they are not debarred from holding the office of director by any authority, including the Securities and Exchange Board of India (SEBI).

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.06%	-7.00%	-5.10%	-45.61%	-7.92%	+89.80%

Avance Technologies Limited has accepted the resignation of Mr. Vijay Purohit from the position of Chief Financial Officer (CFO) and Key Managerial Personnel, effective the close of business hours on June 20, 2026. The resignation follows a letter dated June 18, 2026, in which Purohit cited preoccupation with personal and professional commitments as the reason for his departure. The company confirmed that there are no other material reasons for the resignation beyond those stated in his letter.

The disclosure was made to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has enclosed the resignation letter and the requisite details under Schedule III - Para A (7C) of Part A of Regulation 30.

Resignation Details

The following table outlines the key particulars regarding the change in the company's leadership:

Sr. No.	Particulars	Details
1.	Name	Mr. Vijay Purohit
2.	Designation	Chief Financial Officer
3.	Reason for Change	Due to preoccupation with personal and professional commitments
4.	Date of Cessation	Closure of business hours on June 20, 2026
5.	Directorships in other listed entities	NIL

Mr. Vijay Purohit confirmed that he holds no directorships or committee memberships in other listed entities. He also verified that there are no material reasons for his resignation other than the commitments previously mentioned. The resignation was formally accepted by the Board of Directors of Avance Technologies Limited on June 20, 2026.