Gallard Steel appointed Praveen Sinha and Habib Khandwala as additional non-executive independent directors during its board meeting on September 8, 2026. The appointments are subject to shareholder approval at the upcoming annual general meeting.

The Board also approved the appointment of M/s Anil Kamal Garg & Co. as statutory auditors, replacing S.N. Gadiya & Co., who resigned from the role. These decisions were taken pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015.

Director Appointments

The Nomination and Remuneration Committee recommended the appointments of both directors for a first term of five consecutive years, effective September 8, 2026.

Both individuals join as additional directors pending ratification by members. Neither director is debarred from holding office by SEBI or any other authority, nor do they hold directorships in other listed entities.

Profiles

Praveen Sinha is a metallurgical and operations leader with over 40 years of experience in steel foundry operations, automotive castings, and process optimization. He has expertise in vacuum-assisted lost foam casting (V-LFC) and energy-efficient manufacturing. His background includes scaling businesses and delivering zero-defect quality to OEMs across India, Bhutan, and Nepal.

Habib Khandwala is a Chartered Accountant with over 30 years of experience in finance, accounting, audit, treasury, corporate governance, and strategic business management. He has held senior leadership positions across diverse industries with significant international exposure in financial management, regulatory compliance, and risk oversight.

Auditor Changes

The Audit Committee recommended the appointment of M/s Anil Kamal Garg & Co. (FRN: 004186C) as the company’s statutory auditors until the ensuing annual general meeting. This follows the resignation of M/s S.N. Gadiya & Co. (FRN: 002052C) from the office of statutory auditor.

M/s Anil Kamal Garg & Co. is a leading firm of Chartered Accountants based in Indore, providing professional services since 1988.

Other Approvals

The Board approved the Board Report for FY26 and the notice for the 11th Annual General Meeting, scheduled for September 30, 2026. The meeting commenced at 4:00 pm and concluded at 8:45 pm at the company’s registered office in Indore.

Gallard Steel has scheduled its 11th Annual General Meeting (AGM) for Wednesday, September 30, 2026. The meeting will address key corporate governance matters, including the appointment of new statutory auditors, independent directors, and a remuneration increase for the Chief Operating Officer.

The company submitted its annual report for the fiscal year ended March 31, 2026, to the Bombay Stock Exchange alongside the AGM notice. The meeting will be conducted through Video Conferencing or Other Audio-Visual Means (OAVM) at 11:00 am from the registered office in Indore, Madhya Pradesh, complying with Regulation 34(1) of the SEBI (LODR) Regulations, 2015.

AGM Agenda Items

Shareholders will vote on ordinary business items, including adopting audited financial statements and reappointing retiring director Hakimuddin Ghantawala. Special business resolutions focus on board composition and management compensation.

Board Appointments

The board seeks approval for two Non-Executive Independent Directors: Praveen Sinha and Habib Khandwala. Both were appointed as Additional Directors on September 8, 2026, and will serve five-year terms from that date.

Auditor Appointment

The company proposes appointing M/s Anil Kamal Garg & Co., Chartered Accountants as Statutory Auditors. This fills a casual vacancy left by M/s S.N. Gadiya & Co., which resigned due to disagreements over professional fees and scope of services. The new auditors will hold office for five consecutive financial years.

Management Remuneration

An ordinary resolution will seek shareholder consent under Section 188(1)(f) of the Companies Act, 2013, to raise Chief Operating Officer Kaid Johar Kalabhai’s monthly remuneration from ₹2,00,000 to up to ₹5,00,000, effective October 1, 2026. Kalabhai is a relative of a director.

E-Voting and Book Closure Details

Pursuant to Regulation 44 of the SEBI (LODR) Regulations, 2015, and Section 108 of the Companies Act, 2013, remote e-voting facilities will be provided by CDSL. CS Ishan Jain is appointed as the scrutinizer for the voting process.

Trapti Jain, Company Secretary and Compliance Officer, signed the submission on behalf of the board.