Electrotherm (India) Limited has scheduled its 40th Annual General Meeting for Monday, September 28, 2026. The meeting will be held at 10:00 am through Video Conferencing or Other Audio Visual Means (VC/OAVM), in compliance with Ministry of Corporate Affairs circulars and SEBI LODR regulations.

Meeting Logistics and E-Voting

Shareholders can participate in the AGM remotely without physical presence. The company will not send physical copies of the notice or annual report; these documents are available electronically on the company website, BSE, NSE, and CDSL portals.

E-voting is facilitated through the Central Depository Services (India) Limited platform. The remote e-voting period commences on Friday, September 25, 2026, at 9:00 am and concludes on Sunday, September 27, 2026, at 5:00 pm.

Only shareholders registered in the Register of Members or as Beneficial Owners as of the cut-off date are entitled to vote. Those who cast votes remotely cannot vote again during the live meeting.

Shareholder Instructions

Physical shareholders must register their email addresses by sending folio numbers, names, scanned share certificates, and self-attested PAN and Aadhaar cards to sec@electrotherm.com or the RTA. Demat shareholders are required to update their email and mobile details with their respective Depository Participants to access e-voting and virtual meeting links.

Board Appointments and Re-appointments

The AGM agenda includes several key board appointments and re-appointments:

• Mr. Suraj Bhandari: Retires by rotation and offers himself for re-appointment as a Director.
• Mr. Raj Kumar Bansal: Proposed appointment as an Independent Director for a five-year term from July 20, 2026, to July 19, 2031. He is a Chartered Accountant with approximately 40 years of experience in the banking and asset reconstruction industry.
• Mr. Rajesh Bhalchandra Patel: Proposed appointment as a Non-Executive Non-Independent Director, liable to retire by rotation, effective August 26, 2026.
• Mr. Harish Mukati: Proposed appointment as a Whole Time Director & Chief Executive Officer for three years from July 20, 2026, to July 19, 2029. His maximum monthly salary is capped at ₹8,38,010. Remuneration payment is subject to approval from financial institutions due to existing dues defaults.
• Mr. Davesh Khandelwal: Proposed appointment as a Whole Time Director for three years from August 26, 2026, to August 25, 2029. His maximum monthly salary is capped at ₹7,83,334. Similar to Mr. Mukati, his remuneration is contingent on financial institution approval.

Related Party Transactions

Shareholders will approve material related party transactions for FY27 with the following entities:

The largest transaction involves Arvindbhai Steel Private Limited, linked to Mr. Shailesh Bhandari (Executive Vice Chairman) via his son-in-law. The transactions with Powertrans entities and Emnis Systems involve Mr. Rajesh Bhalchandra Patel or his relatives.

Auditor Appointment

The remuneration of M/s. V. H. Savaliya & Associates as Cost Auditor for FY27 is proposed for ratification at ₹2,25,000 plus applicable GST and out-of-pocket expenses.

What the Numbers Show

The proposed related party transactions total approximately ₹1,000.50 crore, representing roughly 27% of the company's consolidated turnover of ₹3,692.09 crore in FY26. The significant concentration of procurement and sales with Arvindbhai Steel Private Limited highlights a strategic dependency on this related entity for supply chain stability and sales channels. Additionally, the conditional nature of executive remuneration for new Whole Time Directors underscores the ongoing impact of debt restructuring processes on management compensation structures.

Electrotherm (India) Limited appointed Davesh Khandelwal as Whole Time Director and Rajesh Bhalchandra Patel as Non-Executive Non-Independent Director on August 26, 2026. The Board approved both roles during its meeting held on that date. Shareholder approval is required for the final confirmation of these appointments.

The Board designated Khandelwal as an Additional Director until the next Annual General Meeting. His tenure as Whole Time Director spans three years, from August 26, 2026, to August 25, 2029. This appointment is subject to shareholder ratification.

Executive Profile

Khandelwal brings over two decades of experience across power, steel, marketing, and international trade sectors. He holds a Bachelor of Engineering in Mechanical Engineering from Bharati Vidyapeeth. His career began at Hindustan Unilever, where he developed expertise in business operations and strategy. He later served as Whole Time Director and Managing Director of Shreeyam Power and Steel Industries Limited since 2013.

Non-Executive Appointment

Rajesh Bhalchandra Patel was appointed as an Additional Director in the category of Non-Executive Non-Independent Director. He is liable to retire by rotation. Like Khandelwal, his appointment requires shareholder approval. Patel holds a Diploma in Automobile Engineering from Government Polytechnic, Ahmedabad.

Patel possesses 39 years of experience in manufacturing, business development, and operations within the electrical industries. His background includes erection, testing, design, commissioning, and maintenance of extra high voltage substations and projects up to 400 KW. He also has experience with electrical panels, switch yard projects, and power projects.

Regulatory Compliance

Both directors are not related to any other directors of the company. The company confirmed that neither individual is debarred from accessing the capital market or restrained from holding director positions in listed companies by SEBI or any other authority. The Board meeting commenced at 11:30 am and concluded at 12:40 pm.