Britannia Industries Limited has officially announced the results of its postal ballot process for appointing Mr. Rakshit Hargave as Chief Executive Officer and Managing Director. The company filed the voting results with BSE and NSE on March 15, 2026, confirming that the ordinary resolution was passed with requisite majority through electronic voting.

Official Filing and Regulatory Compliance

The company submitted its voting results to the stock exchanges pursuant to Regulation 44 of SEBI Listing Regulations, 2015. The postal ballot was conducted in accordance with Section 110 read with Section 108 of the Companies Act, 2013, and Rule 20 and 22 of the Companies (Management and Administration) Rules, 2014. Mr. Mitesh Dhabliwala (FCS No: 8331 CP: 9511) from M/s. Parikh & Associates served as the scrutinizer for the voting process.

Appointment Details and Term

Mr. Rakshit Hargave, bearing Director Identification Number (DIN) 03406793, has been appointed as both Chief Executive Officer and Managing Director for a term of 5 years with effect from December 15, 2025, to December 14, 2030 (both days inclusive). The appointment was initially approved by the Board of Directors on November 10, 2025, based on the recommendation of the Nomination and Remuneration Committee.

Comprehensive Voting Results

The postal ballot demonstrated strong shareholder participation with 80.21% of total shares being polled. The resolution received 79.58% votes in favour and 20.42% against, confirming the appointment with requisite majority.

Category-wise Voting Analysis

The voting results revealed distinct patterns across different shareholder categories. The promoter and promoter group demonstrated unanimous support for the appointment, while institutional investors showed a divided stance with 55.33% voting against the resolution.

Professional Background and Qualifications

Mr. Rakshit Hargave brings extensive experience in the consumer industry both in India and overseas. He has served as CEO of Birla Opus, the paint venture from Aditya Birla Group, and headed operations of Beiersdorf (NIVEA) across India, Africa, ASEAN and ANZ regions. His career includes roles as Chief Operating Officer at Lakme Lever under Hindustan Unilever, and successful tenure at Jubilant Food Works where he launched the Domino's Pizza 30 minutes guarantee delivery model. The company confirmed that Mr. Hargave is not debarred from holding the Office of Director by SEBI or any other authority and is not related to any existing Directors of the Company.

Britannia Industries has issued an official clarification under Regulation 30 of SEBI (LODR) Regulations, 2015, addressing market rumours regarding potential operational disruptions due to industrial gas supply issues linked to Middle East conflicts. The formal statement was signed by Chief Executive Officer and Managing Director Rakshit Hargave.

Official Regulatory Statement

The company received multiple enquiries and noted various reports suggesting potential disruption to operations due to industrial gas supply challenges. In response, Britannia Industries provided a comprehensive clarification to address stakeholder concerns and market speculation.

Current Operational Status

The food manufacturer confirmed that its operations remain stable across all manufacturing facilities. The company emphasized that industrial gas supply issues have not caused any significant operational disruptions to date.

Fuel Flexibility and Contingency Measures

Britannia Industries highlighted its operational flexibility through diverse fuel usage across manufacturing facilities. The company utilizes LPG, PNG, Biomass, and liquid fuels, maintaining the capability to switch between fuel types through technical adjustments when feasible.

Future Preparedness and Monitoring

The company stated it will continue monitoring developments while implementing appropriate measures to ensure operational continuity. Management expressed confidence in effectively managing potential future challenges and committed to making necessary disclosures as required under regulatory frameworks. Britannia Industries also expressed confidence in the Government of India's efforts to address industry challenges related to Middle East conflicts.