Carysil Limited's Board of Directors convened on March 20, 2026, approving multiple strategic decisions including auditor appointments, QIP timeline extension, and subsidiary restructuring initiatives in the United Kingdom.

Auditor Appointments for FY 2026-27

Based on Audit Committee recommendations, the board approved key auditor appointments for the upcoming financial year:

BDO India LLP brings extensive expertise as part of the global BDO network, offering assurance, tax, advisory and consulting services across various industries. S.S. Puranik & Associates, established in 1993-94, specializes in cost accounting, management consultancy, and statutory audits.

QIP Timeline Extension

The board approved extending the timeline for utilization of Qualified Institutional Placement (QIP) proceeds from March 31, 2026 to March 31, 2027. The QIP was originally completed in July 2024, with funds earmarked for capital expenditure. The company clarified that there are no changes to the objects of issue or utilization as disclosed in the original Placement Document.

UK Subsidiary Restructuring

Significant restructuring activities were approved for the company's UK operations:

Carysil Ceramictech Limited, which has not commenced operations since incorporation, will undergo voluntary strike-off with completion expected within 6-7 months.

Strategic Acquisition in London

Carysil Products Limited, the UK step-down subsidiary, received approval to acquire 100% share capital of Setu Capital Limited for £2.27 million. The acquisition includes an office property at Monk Street in central London:

The board meeting, chaired from 3:00 PM to 4:35 PM, demonstrates Carysil's continued focus on operational efficiency and strategic expansion in international markets.

Carysil Limited has provided an operational status update to stock exchanges, confirming that its business operations remain stable and uninterrupted despite ongoing geopolitical developments in the Middle East that have caused volatility in global markets.

Manufacturing Operations Continue Normally

The company reported that its manufacturing facilities are operating at normal capacity, supported by robust infrastructure and operational flexibility. A key strength highlighted is the dual fuel capability through PNG (Piped Natural Gas) and LDO (Light Diesel Oil), which provides operational resilience during uncertain times.

Supply Chain Remains Resilient

Carysil emphasized that it maintains a well-established and resilient supply chain network. The company confirmed that as of the disclosure date, no material disruption has been experienced in either the procurement of raw materials or the dispatch of finished goods to customers.

Limited Freight Cost Impact

While acknowledging that global freight costs have increased due to prevailing geopolitical conditions, Carysil's management assessed that the overall impact on the company's operations and financial performance is not material. The company benefits from having approximately 90% of its export sales conducted on an FOB (Free on Board) basis, which significantly limits direct exposure to fluctuations in freight costs.

Ongoing Monitoring and Preparedness

The company stated that it continues to closely monitor the evolving geopolitical situation and remains prepared to take appropriate measures if required to safeguard operational continuity and supply chain stability. This proactive approach demonstrates management's commitment to maintaining business resilience during uncertain global conditions.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as part of the company's commitment to keep stock exchanges and investors appropriately informed about material developments that could impact business operations.