Dolphin Medical Services Limited announced significant changes to its board composition following a board meeting held on April 22, 2026. The meeting, which commenced at 08:30 PM and concluded at 09:20 PM IST, resulted in the appointment of two new independent directors and the acceptance of three director resignations, all effective immediately. The changes were disclosed pursuant to Regulation 30 read with Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

New Independent Director Appointments

The board approved the appointment of two independent directors based on recommendations from the Nomination and Remuneration Committee. Both appointments are for five-year terms and comply with provisions under Sections 149(6), 150, and 152 of the Companies Act, 2013, subject to shareholder approval.

Mr. Kolachalama Saikumar is a Chartered Accountant with over 10 years of expertise in audit, specializing in ASM audits, statutory audits, and concurrent audits of public and private sector banks. He is certified in Valuation and DISA (ICAI) with strong understanding of regulatory compliance, internal control assessments, and risk management frameworks. He is skilled in conducting detailed audit reviews under RBI guidelines.

Smt. Srujana Siddhani is an experienced Senior Consultant Obstetrician & Gynecologist, Laparoscopic Surgeon, and Infertility Specialist with over 19 years of experience. She is recognized as one of the best gynecologists and specializes in female reproductive organs care with advanced treatments that help patients recover quickly and safely.

Director Resignations

The board accepted resignations from three directors, all effective April 22, 2026. Each resigning director cited professional unavoidable circumstances as the primary reason for their departure.

All three departing directors confirmed that there are no material reasons for their resignations other than professional commitments. The board placed on record its appreciation for their contributions during their respective tenures.

Regulatory Compliance

Both newly appointed independent directors confirmed they are not debarred from holding director positions by any SEBI order or other authority, in accordance with BSE circular dated June 20, 2018. Neither appointee is related to any existing directors of the company as defined under Section 2(77) of the Companies Act, 2013. The company has filed the necessary information with the Bombay Stock Exchange and will complete required formalities with the Registrar of Companies. The resigning directors held no directorships in other listed entities.

Dolphin Medical Services Limited has issued a corrigendum to the Bombay Stock Exchange regarding its board meeting outcome held on 12th February, 2026, formally recording the resignation of Chief Financial Officer Mrs. Lakshmi Sudha Madala. The company acknowledged that the CFO's resignation was inadvertently omitted from the original BSE listing centre upload despite being tendered and accepted during the board meeting.

CFO Resignation Details

The resignation became effective from 12th February, 2026, with Mrs. Madala citing personal reasons for her departure from the position. The board has formally acknowledged and accepted her resignation while placing on record its appreciation for the services rendered during her tenure.

Regulatory Compliance

The corrigendum was communicated to the BSE on 30th March, 2026, and includes all information required under SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November, 2024. The company has provided comprehensive documentation including the resignation letter and detailed annexure as per regulatory requirements.

Transition Process

In her resignation letter, Mrs. Madala expressed gratitude to the board, leadership team, and colleagues for their trust and collaboration throughout her tenure. She committed to ensuring a smooth transition of responsibilities and providing necessary assistance to facilitate the handover process. The CFO acknowledged the collective dedication and professionalism of the team, expressing confidence in the company's continued growth under its capable leadership.

Company Response

Dolphin Medical Services Limited, headquartered in Hyderabad, has treated this as a formal correction to ensure complete transparency and regulatory compliance. The corrigendum forms an integral part of the official board meeting record and should be read in conjunction with the original outcome from 12th February, 2026.