Creative Newtech Limited has announced the appointment of Mr. Ajit Thakur as its Chief Financial Officer and Key Managerial Personnel effective May 14, 2026. The board approved the appointment based on the recommendations of the Audit Committee and Nomination and Remuneration Committee. Mr. Thakur succeeds Mr. Abhijit Kanvinde, who resigned from the position on April 14, 2026.

Profile of New CFO

Mr. Ajit Kumar Thakur is a qualified Chartered Accountant with over 17 years of experience in finance, accounts, strategic planning, and risk management. His expertise spans diverse industries, including Agriculture, Electric Vehicles, Steel & Mining, Polymer, Manufacturing, and Gems & Jewellery. He has held leadership roles at organizations such as Mahindra & Mahindra Ltd., Mahyco Group, Safal Group, Gitanjali Group, and Time Technoplast Ltd.

He holds a B. Com degree, completed the Executive Program in Strategy in International Business from IIFT, and the PGPCFO program from IIM Indore. Mr. Thakur brings extensive skills in IPO readiness, investor relations, governance, and large-scale fund-raising through various instruments including working capital, term loans, ECB, PE funding, and non-fund-based facilities. He has also been involved in digital transformation, ERP implementation, and AI-driven finance automation initiatives.

Key Details

The table below summarizes the appointment details:

Creative Newtech Limited has filed an addendum and revised disclosure dated 13th May 2026 with the National Stock Exchange of India Limited and BSE Limited, providing additional details in the prescribed format under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The addendum pertains to the company's earlier corporate announcement dated 12th May 2026, which disclosed an order worth ₹35.89 crore secured from the Food Corporation of India (FCI) for the FCI Smart Warehousing Project spanning 150 depots across India. The company clarified that the omission of the prescribed format details in the original filing was purely unintentional and that there is no change in the value, scope, nature, timeline, or other material terms of the order.

Background and Reason for Addendum

The addendum was submitted following a communication received from BSE Limited seeking additional details in respect of the original corporate announcement. Creative Newtech stated that the original announcement had provided broad details of the project, including the order value, scope of deployment, number of depots covered, project implementation timeline, and strategic importance. The revised disclosure now includes the complete order details in the format prescribed under SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company also noted that going forward, it will take due care to ensure all applicable details are included in the prescribed format at the time of filing such disclosures.

Order Details — Regulation 30 Prescribed Format

The following table presents the complete order details as submitted by Creative Newtech in Annexure A of the addendum:

Project Scope and Technology Deployment

The scope of the FCI Smart Warehousing Project involves the deployment of surveillance and AI-based smart warehousing infrastructure across FCI depots nationwide. The key components include:

• Sensor modules for real-time monitoring
• Bag counting systems to improve inventory accuracy
• Boom barriers for access control
• Gateway infrastructure for connectivity
• Software platforms for centralized management
• Surveillance and AI systems for intelligent monitoring
• Intelligent monitoring systems for enhanced operational visibility

The project will be executed through Creative Newtech's strategic partnership with a system integrator, leveraging the company's implementation strength and deployment experience across its 31 offices and warehouses, enabling a coordinated rollout across all 150 depots.

Management Commentary

Commenting on the order, Mr. Ketan Patel, Chairman & Managing Director of Creative Newtech Limited, stated:

"A project across 150 FCI depots is a large responsibility, especially because it supports an important part of India's food storage network. For Creative Newtech, this is a proud moment because it allows us to bring our technology experience into a system that plays an important role in India's food supply chain. Our focus is to ensure a dependable, coordinated, and practical rollout across every site. We believe Creative Newtech can add strong value by combining planning, deployment capability, and on-ground execution, also opens a wider path for future FCI, government, PSU, smart infrastructure, logistics digitization, and mutually agreed international opportunities. For us, this is a strong step towards larger public infrastructure technology projects."

Strategic Significance

This order strengthens Creative Newtech's position in government-led digital infrastructure and smart technology deployment. The engagement expands the company's presence in surveillance, AI, and intelligent warehousing solutions—areas increasingly relevant across logistics, public infrastructure, and institutional storage systems. The project forms part of the Government of India's supply chain modernization initiative and aims to upgrade India's food storage infrastructure through IoT-based systems, intelligent monitoring, and advanced smart warehouse-level technology solutions.

About Creative Newtech Limited

Established in 1992, Creative Newtech Limited is a well-established company in India's Information and Communication Technology distribution market. The company operates an omni-channel network across online, offline, and retail trade channels and specializes in market entry and penetration for global brands. Creative Newtech is associated with over 20 renowned brands globally, offering end-to-end solutions spanning market research, import, distribution, sales, servicing, and marketing strategy execution. The company is headquartered at Kandivali West, Mumbai.

Source: Company/INE985W01018/Addendum dated 13th May 2026