Simandhar Impex Limited has appointed Mr. Lalit Naresh Nagdev and Mr. Amit Suresh Ninawe as Additional Executive Directors from the Professional Category, effective June 6, 2026, subject to shareholder approval. The appointments were approved by the Board of Directors following a recommendation by the Nomination and Remuneration Committee. This move is part of the company's management transition following a recent change in control, where Farmico International Private Limited acquired a 74.64% stake.

Director Profiles and Expertise

Mr. Lalit Naresh Nagdev is a qualified Chartered Accountant with over 9 years of experience in finance, banking, audit, and taxation across India and international markets, including the UAE. His background includes overseeing financial compliance, regulatory coordination, ERP implementation, and internal control systems. Previously, he worked with Axis Bank Ltd. in the SME Credit Department, focusing on credit appraisal and risk assessment.

Mr. Amit Suresh Ninawe brings over 13 years of experience in finance, accounting, taxation, and project finance. A qualified Chartered Accountant, he previously served as Senior Credit Manager with ICICI Bank Ltd., gaining expertise in credit appraisal, risk assessment, and portfolio monitoring. His skills include financial planning, treasury management, and statutory compliance.

Governance and Compliance

The Board confirmed that neither appointee is related to any existing Directors, Key Managerial Personnel, or Promoters of the company. Furthermore, both individuals are not debarred from holding the office of Director by any SEBI order or other authority. The appointments comply with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Simandhar Impex Limited has announced a substantial change in its shareholding structure following the divestment by its promoter group. The company disclosed that its promoters and persons acting in concert have sold their entire holding to Farmico International Private Limited. This transaction was executed via an off-market sale pursuant to a Share Purchase Agreement dated January 14, 2026.

The disclosure, made under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, outlines the details of the share transfer. The total equity capital of the target company remains unchanged at 30,56,925 equity shares of ₹10 each, fully paid up, amounting to ₹3,05,69,250.

Transaction Details

The sale involved the transfer of 22,81,615 equity shares, which constituted 74.64% of the company's total voting capital. Prior to the transaction, the promoter group held this significant stake, which has now been completely divested. The acquisition was completed on May 21, 2026, resulting in Farmico International Private Limited becoming the new majority owner.

Shareholding Pattern

The following table details the shareholding of the promoter and promoter group prior to the sale:

Post-Transaction Status

Following the acquisition, the holding of the promoter and promoter group has reduced to zero. The shares were sold on an off-market basis, and the acquirer, Farmico International Private Limited, now controls the 74.64% stake previously held by the promoters. The total diluted share capital of the company remains at 30,56,925 equity shares.