DIC India has confirmed that Hayato Kashiwagi assumed office as Managing Director effective September 1, 2026. The appointment follows Board approval and is subject to shareholder and Central Government clearance.

The Company issued a disclosure to stock exchanges confirming Mr. Kashiwagi commenced his tenure at 9:00 am on September 1, 2026. This follows the postal ballot notice issued earlier, which sought shareholder approval for the appointment. The remote e-voting process remains open until September 30, 2026.

Appointment Details

Mr. Kashiwagi, who previously served as a Non-Executive Director, brings 25 years of experience with the DIC Group. His career includes roles in sales, marketing, corporate management, and international business across Asia Pacific, Japan, and China. He holds a Bachelor of Commerce degree from Doshisha University.

In addition to his role at DIC India, Mr. Kashiwagi serves as a Director for several group entities, including DIC Malaysia, PT DIC Graphics, DIC Philippines, DIC Vietnam, DIC Bangladesh, DIC Australia, and DIC Lanka. He has also been appointed as a Director of DIC Fine Chemical Private Limited effective September 1, 2026.

Remuneration and Tenure

The proposed compensation package for Mr. Kashiwagi includes a monthly salary of ₹15,85,925 and an annual performance bonus of ₹22,80,319. His perquisites ceiling is set at ₹1,15,00,000 per annum. He will serve a three-year term starting September 1, 2026.

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), closes on September 30, 2026, at 5:00 pm. 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.