Avantel Limited announced key board decisions at its meeting held on April 26, 2026, including the appointment of two new independent directors and the reconstitution of various board committees. The appointments are subject to shareholder approval at the upcoming Annual General Meeting.

New Director Appointments

The board appointed Dr. Tamilmani Kandasamy (DIN: 07617444) and Mr. Lakshminarasimha Acharyulu Muktevi (DIN: 02118771) as Additional Directors (Non-Executive Independent) for a five-year term from April 26, 2026, to April 25, 2031.

Dr. Tamilmani Kandasamy (73 years) brings over four decades of experience in defence research and development, having served as Director General (Aeronautics) at DRDO. He led major aerospace programs exceeding ₹10,000 crore and contributed to the development of indigenous platforms including LCA Tejas, ALH, and AEW systems. He holds a Ph.D. in Technology Dynamics and National Security and is a recipient of the DRDO Technology Leadership Award.

Mr. Lakshminarasimha Acharyulu Muktevi (68 years) is a seasoned corporate management professional with over four decades of experience across infrastructure, manufacturing, financial services, and semiconductor technology. He has held senior leadership positions including CEO & Executive Director of Karaikal Port Private Limited and Managing Director of Sentini Sanitary Private Limited and Qualcore Logic Limited. Both directors hold no shares in the company and are not debarred from holding office by any regulatory authority.

Committee Reconstitution

The board approved the reconstitution of four key committees with the following membership:

Auditor Appointments

The board approved the appointment of M/s. Grandhy & Co., Chartered Accountants (Firm Registration No. 001007S) as Statutory Auditors for a second term of five consecutive years from the conclusion of the 36th AGM till the conclusion of the 41st AGM, subject to shareholder approval. The firm, established in 1976, has over five decades of experience in audit, assurance, and advisory services.

Additionally, M/s. MPR & Associates, Cost Accountants (Firm Registration No. 000413) was appointed as Cost Auditor for the financial year ending March 31, 2027. M/s. Ramesh & Co., Chartered Accountants (Firm Registration No. 002979S) was appointed as Internal Auditor for the same period. All appointments were based on Audit Committee recommendations.

Avantel Limited has announced credit rating actions by CARE Ratings Limited on its bank facilities totaling ₹249.50 crore. The company informed stock exchanges on April 10, 2026, about the rating assignment and reaffirmations received from the credit rating agency.

Credit Rating Details

CARE Ratings Limited communicated the rating actions via email dated April 9, 2026. The comprehensive rating exercise covered various categories of bank facilities across different tenures and purposes.

Rating Significance

The CARE A- rating with Stable outlook indicates adequate degree of safety regarding timely servicing of financial obligations. The A2+ rating for short-term facilities reflects strong degree of safety regarding timely payment of financial obligations. These ratings provide insight into the company's creditworthiness and financial stability.

Regulatory Compliance

Avantel Limited disclosed this information pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication was signed by D Rajasekhara Reddy, Company Secretary & Compliance Officer, ensuring proper corporate governance protocols.

Corporate Structure

The company maintains its corporate office in Hyderabad, Telangana, with registered office and manufacturing units in Andhra Pradesh and Telangana. Avantel Limited operates under CIN L72200AP1990PLC011334 and maintains presence across multiple industrial locations to support its business operations.