DIC India has issued a postal ballot notice seeking shareholder approval for the appointment of Hayato Kashiwagi as Managing Director and Praveen Kumar Asthana as Whole Time Director. The remote e-voting process commences on September 1, 2026.

The Board approved the appointments following recommendations from the Nomination and Remuneration Committee. Mr. Kashiwagi, currently a Non-Executive Director, will serve a three-year term starting September 1, 2026. Mr. Asthana, previously the Chief Operating Officer, will serve a three-year term effective from July 15, 2026.

Key Appointment Details

Mr. Kashiwagi brings 25 years of experience with the DIC Group, including roles in sales, marketing, and international business across Asia Pacific. His appointment is subject to Central Government approval due to his status as a foreign national.

Mr. Asthana holds a B.Tech in Chemical Engineering from IIT Kanpur and has over three decades of industry experience. He joins the board after serving as COO, where he oversaw manufacturing, procurement, and supply chain operations.

Remuneration Structure

The proposed compensation packages include fixed salaries, performance bonuses, and perquisites. Both appointees are not liable to retire by rotation.

Voting Process

Shareholders holding shares as on August 21, 2026, are eligible to vote. The e-voting facility, managed by National Securities Depository Limited (NSDL), remains open until September 30, 2026, at 5:00 pm. The results will be declared within 48 hours of the voting closure.

What the Numbers Show

DIC India reported revenue from operations of ₹89,178.85 lakh for FY25, a modest increase from ₹88,152.89 lakh in FY24. However, profit before tax declined to ₹2,364.66 lakh from ₹2,589.58 lakh in the prior year. This divergence suggests that while top-line growth persisted, operating pressures—attributed by the company to raw material price escalation and supply chain disruptions—impacted bottom-line profitability.

DIC India has accepted the resignation of Manish Bhatia from the positions of Managing Director and Chief Executive Officer. The departure becomes effective from the close of business on August 29, 2026.

The company disclosed the development in a filing with stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This follows an earlier disclosure dated June 2, 2026, regarding the tendering of his resignation.

Resignation Details

Mr Bhatia submitted his resignation letter on June 2, 2026. The Board of Directors accepted the resignation during a meeting held on the same date. Consequently, he ceases to hold the office and is relieved from all assigned responsibilities as of August 29, 2026.

In his resignation letter addressed to the Board, Mr Bhatia described his tenure as professionally fulfilling. He noted that he had led the company during a phase of revival, growth, and transformation.

Transition Plan

Mr Bhatia stated that he would continue to discharge his duties until his last working day to ensure a smooth transition. He offered full support in facilitating leadership continuity during this period.

The company confirmed that it is complying with the requirements stipulated under Regulation 30 read with Para A (7C) of Part A of Schedule III of the SEBI Listing Regulations. The detailed resignation letter has been enclosed with the exchange filings for record purposes.