Deepak Nitrite confirmed that Dileep Choksi ceased to be an Independent Director effective August 7, 2026, marking the end of his second consecutive term. The update clarifies the company’s current Board of Directors composition following this routine governance change, ensuring transparency for investors regarding leadership structure.

The disclosure was filed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Arvind Bajpai, Company Secretary of Deepak Nitrite Limited, signed the communication to BSE Limited, referencing earlier announcements dated April 3, 2026, and May 15, 2026, regarding changes in the Board. The filing specifies that all communicated changes have become effective from their respective dates.

Updated Board Composition

As of August 7, 2026, the Board of Directors comprises 13 members, including five executive directors and eight independent directors. The complete list is detailed below:

Dileep Choksi, identified by DIN 00016322, served two consecutive terms as an Independent Director before stepping down. Under SEBI guidelines, Independent Directors are subject to term limits to ensure board independence and refreshment. His departure is a standard rotation event rather than a voluntary resignation or removal.

Governance Implications

The exit of an Independent Director requires the company to assess whether a replacement is needed to maintain the required proportion of independent directors on the Board. While this specific filing does not announce a successor, Deepak Nitrite Limited will likely initiate the nomination and election process in accordance with its articles of association and SEBI regulations if a vacancy exists. Shareholders should monitor future filings for the appointment of a new Independent Director, which will require approval through an ordinary resolution at a general meeting or via postal ballot.

Deepak Nitrite has outlined a series of significant strategic developments spanning capacity expansion, downstream integration, and capital deployment, as part of its latest concall update. The company is progressing well on its integrated polycarbonate project, with multiple new product units set to come online in the near term and a substantial multi-year capital expenditure plan underway.

Polycarbonate and BPA Project Progress

Deepak Nitrite is targeting commissioning of its integrated polycarbonate plant in the second half of FY29, with BPA (Bisphenol A) expected to follow within months after that milestone. The company confirmed it is progressing well on the project, which forms a cornerstone of its long-term specialty chemicals expansion strategy. The polycarbonate initiative is expected to significantly enhance downstream integration and improve future profit margins.

The financial scale and spending trajectory of the project are detailed below:

Near-Term Product Launches

In addition to the longer-horizon polycarbonate project, Deepak Nitrite has announced that its MIBK (Methyl Isobutyl Ketone), MIBC (Methyl Isobutyl Carbinol), and Acetophenone projects are set to launch in August. Further projects are expected to come online within Q2, reinforcing the company's focus on expanding its specialty chemicals portfolio through downstream integration.

Efficiency Investment in Existing Operations

Alongside new capacity additions, the company has earmarked Rs 700 million to improve the efficiency of its existing plant infrastructure. This investment reflects a dual strategic focus — scaling up new production capabilities while simultaneously optimizing the performance of current assets.

The key highlights from the concall update are summarized below:

These announcements reflect Deepak Nitrite's broad strategic priorities — executing a large-scale integrated polycarbonate project, bringing near-term specialty chemical units online, and strengthening operational efficiency across its existing asset base to support sustainable long-term growth.