Chemplast Sanmar Limited has announced the resignation of Mr. Sumit Maheshwari from its Board of Directors, effective from the close of business hours on April 9, 2026. The company informed the stock exchanges about this development in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Director Resignation Details

Mr. Sumit Maheshwari, holding Director Identification Number (DIN) 06920646, served as a Non-Executive Non-Independent Director of the company. His resignation was submitted through a formal letter dated April 9, 2026, which was received by the company on the same date.

Reason for Resignation

In his resignation letter addressed to the Board of Directors, Maheshwari stated that his decision was driven by the recalibration of his board-level and professional commitments. He confirmed his association with the company in his directorial role since May 20, 2024, indicating a tenure of approximately 11 months.

Regulatory Compliance

The company has fulfilled its disclosure obligations under SEBI Listing Regulations by informing both BSE Limited (Scrip Code: 543336) and the National Stock Exchange of India Limited (Scrip Symbol: CHEMPLASTS) about the resignation. The disclosure was made in accordance with Regulation 30(6) read with Schedule III Part A Para A of the SEBI Listing Regulations and SEBI Circular dated July 13, 2023.

Administrative Formalities

The resignation letter requested the company to acknowledge receipt, relieve him of his duties as director from the resignation date, and complete all necessary formalities with statutory and regulatory authorities. This includes making required disclosures to stock exchanges and SEBI as per applicable provisions of the Companies Act, 2013 and other relevant laws. The formal communication was signed by P. Srinivasan, Company Secretary and Compliance Officer (Membership No. ACS-10129), confirming the company's compliance with regulatory requirements.

Chemplast Sanmar Limited has received notification from CRISIL Ratings regarding the downgrade of long-term credit ratings for both the company and its wholly-owned subsidiary, Chemplast Cuddalore Vinyls Limited, effective March 26, 2026. The rating action affects a combined bank facility portfolio of Rs. 4,551 crore across both entities.

Rating Downgrades for Parent Company

CRISIL has downgraded Chemplast Sanmar Limited's long-term bank facilities rating from A+ to A while maintaining the negative outlook. The short-term rating has been reaffirmed at A1. The company's total bank loan facilities remain unchanged at Rs. 2,001 crore.

Subsidiary Rating Action

Chemplast Cuddalore Vinyls Limited has received identical rating treatment, with its long-term facilities downgraded from A+ to A while maintaining the negative outlook. The subsidiary's short-term rating remains at A1, with total bank loan facilities of Rs. 2,550 crore.

Facility Distribution and Banking Partners

The parent company's Rs. 2,001 crore facilities are distributed across multiple banking partners including State Bank of India, ICICI Bank Limited, YES Bank Limited, IndusInd Bank Limited, IDBI Bank Limited, and DBS Bank India Limited. The facilities comprise term loans, letters of credit, cash credit, and working capital demand loans.

Chemplast Cuddalore Vinyls Limited's Rs. 2,550 crore facilities include partnerships with ICICI Bank Limited, YES Bank Limited, IndusInd Bank Limited, IDFC FIRST Bank Limited, RBL Bank Limited, and The Hongkong and Shanghai Banking Corporation Limited. The subsidiary's portfolio includes both existing facilities and proposed long-term bank loan facilities worth Rs. 56 crore.

Regulatory Compliance and Timeline

The rating notification was submitted to BSE Limited and National Stock Exchange of India Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The information occurrence was recorded on March 26, 2026, at 11:41 AM (IST), with the formal notification signed by Company Secretary M Raman.

CRISIL Ratings maintains continuous surveillance of all assigned ratings and reserves the right to revise ratings based on new information or changing circumstances. The rating agency requires fresh revalidation letters if proposed facilities are not availed within 180 days from the rating date.