Havells India Limited has appointed Sandeep Sehgal as Executive Vice President – Sales Lloyd, effective August 4, 2026. This strategic hire is designed to strengthen the sales leadership for the company’s Lloyd brand, capitalizing on Sehgal’s extensive background in product strategy, channel management, and business development within the consumer electronics and automotive sectors.

The appointment was disclosed to the National Stock Exchange of India Ltd. and BSE Limited on August 4, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR). Sanjay Kumar Gupta, Company Secretary at Havells India Limited, signed the intimation filed with the exchanges.

Key Details of the Appointment

Profile and Experience

Sandeep Sehgal brings over 25 years of professional experience in product strategy, sales and marketing, business development, channel management, and team leadership. His career highlights include driving revenue growth, expanding market presence, and developing new business verticals in multicultural environments.

For the last 10 years, Sehgal worked with Panasonic in various sales profiles. Prior to his tenure at Panasonic, he was associated with CEAT Tyres and LG Electronics India. He holds a Post Graduate Diploma in Business Management (PGDBM) from the Birla Institute of Management Technology and a Bachelor of Commerce (Honours) degree from Shri Ram College of Commerce, Delhi University.

Strategic Context

The appointment signals Havells India Limited’s focus on scaling its operations under the Lloyd brand. By appointing a leader with deep roots in established consumer brands like Panasonic and LG Electronics, the company appears to be prioritizing robust channel management and market expansion strategies for this segment. No relationships with existing directors were disclosed in connection with this appointment.

Havells India Limited is conducting a postal ballot to secure shareholder approval for the appointment of Ashish Dhawan and Shanti Ekambaram as Independent Directors. The Board initially appointed them as Additional Directors on June 19, 2026, following recommendations from the Nomination and Remuneration Committee. Shareholders must now ratify these appointments via remote e-voting to confirm their five-year terms, which commence from the initial appointment date and end on June 18, 2031. This governance step ensures compliance with the Companies Act, 2013, and SEBI Listing Regulations regarding the tenure of independent directors.

The voting process is facilitated by National Securities Depository Limited (NSDL) through remote e-voting only; physical ballot forms are not accepted. The record date for eligibility is July 24, 2026, meaning only members whose names appear in the Register of Members or List of Beneficial Owners as of this cut-off date can vote. Company Secretary Sanjay Kumar Gupta confirmed that the Notice of Postal Ballot was dispatched electronically on July 31, 2026, in compliance with Ministry of Corporate Affairs (MCA) circulars mandating electronic communication. While physical copies are not being sent, a QR code-based physical communication is available for members without registered email addresses.

Voting Timeline and Key Dates

Shareholders must cast their votes within the specified e-voting period. The resolutions seek approval for the first term of five years for each director. Key dates for the exercise are outlined below:

The voting results will be announced within two working days of the conclusion of the e-voting period on August 30, 2026. The results, along with the Scrutinizer’s Report, will be placed on the company’s website and NSDL’s platform.

Director Profiles and Independence

The appointments bring significant expertise in philanthropy, private equity, and banking governance to the Board. Ashish Dhawan (DIN: 00015111), Founder and CEO of The Convergence Foundation, brings experience from his tenure as founder of ChrysCapital. Shanti Ekambaram (DIN: 00004889), a Chartered Accountant and Cost Accountant, brings 39 years of financial services experience, including a 35-year tenure at Kotak Mahindra Bank.

A material disclosure concerns Ashish Dhawan’s relationship with the International Foundation for Research and Education (IFRE). Havells entered into a CSR Grant Agreement with IFRE in FY25, committing ₹250 crore over ten years. The company has disbursed ₹20 crore each in FY25 and FY26. The filing clarifies that these grants are well below the threshold that would disqualify Dhawan from independence under Section 149(6)(e)(iv) of the Companies Act. Consequently, future transactions with IFRE will be treated as related party transactions requiring Audit Committee approval.

Governance Implications

The addition of Dhawan and Ekambaram expands the independent representation on the Board, reinforcing oversight capabilities. Balika Sharma, Practicing Company Secretary (Membership No. FCS 4816, COP No. 3222), has been appointed as the Scrutinizer to ensure a fair and transparent voting process. Investors should note that once a vote is cast, it cannot be modified. The successful passage of these special resolutions solidifies the Board’s composition for the next five years, aligning with regulatory standards for independent director tenure.