Hindware Home Innovation Limited has successfully concluded its postal ballot process with shareholders overwhelmingly approving the appointment of Mr. Ram Babu Kabra as Non-Executive Non-Independent Director. The company declared the results on April 27, 2026, following the completion of the electronic voting process.

Postal Ballot Results Overview

The special resolution for Mr. Ram Babu Kabra's appointment (DIN: 00021886) received strong shareholder support across all categories. The voting was conducted entirely through electronic mode, with the cut-off date set as March 20, 2026.

Category-wise Voting Analysis

The voting results demonstrated unanimous support from promoters and institutional investors, with minimal opposition from public non-institutional shareholders.

Postal Ballot Process Details

The company conducted the postal ballot process in compliance with the Companies Act, 2013, and SEBI regulations. Mr. Pravin Kumar Drolia, Practicing Company Secretary from Kolkata, served as the appointed Scrutinizer for the voting process.

Key Process Highlights:

• Total Shareholders on Record: 38,988 as of March 20, 2026
• Voting Period: March 27, 2026 (9:00 AM) to April 25, 2026 (5:00 PM)
• E-voting Platform: Central Depository Services (India) Limited (CDSL)
• Notice Dispatch: Completed by March 26, 2026 through electronic mode
• Public Notice: Published in Financial Express and Ekdin on March 27, 2026

Regulatory Compliance

The postal ballot was conducted pursuant to Sections 108 and 110 of the Companies Act, 2013, read with Rules 20 and 22 of the Companies (Management and Administration) Rules, 2014. The process also complied with Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Ms. Payal M Puri, Company Secretary and Senior Vice President Group General Counsel, was responsible for conducting the entire postal ballot process. The scrutinizer's report and detailed voting results have been uploaded on the company's website at https://www.hindwarehomes.com/ as per regulatory requirements.

Board Appointment Formalization

With the successful approval of the special resolution, Mr. Ram Babu Kabra will formally join the Board of Directors as Non-Executive Non-Independent Director. The appointment follows all necessary regulatory compliances and shareholder approval processes as mandated under corporate governance norms.

Hindware Home Innovation Limited has received a credit rating downgrade from CARE Ratings Limited, reflecting concerns about the company's operational and financial performance. The rating agency has revised both long-term and short-term bank facility ratings while keeping them under close monitoring through Rating Watch with Developing Implications.

Rating Revision Details

CARE Ratings has implemented significant downgrades across Hindware Home Innovation's bank facilities based on recent performance indicators and ongoing corporate restructuring activities.

The total bank facilities under review amount to Rs. 269.00 crore, comprising both fund-based and non-fund-based limits across multiple banking partners including HDFC Bank, Federal Bank, Standard Chartered Bank, Axis Bank, and HSBC.

Factors Behind the Downgrade

The rating revision is attributed to multiple factors affecting the company's credit profile. CARE Ratings cited the operational and financial performance based on FY25 audited results and 9MFY26 unaudited performance as primary concerns. Additionally, the ongoing composite demerger and amalgamation scheme has created uncertainty about the potential impact on the company's credit risk profile.

Banking Facility Distribution

The company's banking relationships are diversified across several major financial institutions for both long-term and short-term facilities.

Long-Term Fund Based Limits:

• HDFC Bank Ltd.: Rs. 60.00 crore
• Federal Bank: Rs. 40.00 crore
• Standard Chartered Bank: Rs. 25.00 crore
• Axis Bank Ltd.: Rs. 19.00 crore
• HSBC Ltd.: Rs. 15.00 crore

Short-Term Non-Fund Based Limits:

• Axis Bank Ltd.: Rs. 35.00 crore
• Standard Chartered Bank: Rs. 30.00 crore
• HDFC Bank Ltd.: Rs. 25.00 crore
• Federal Bank: Rs. 20.00 crore

Regulatory Compliance and Disclosure

The company has fulfilled its regulatory obligations by informing both BSE Limited and National Stock Exchange of India Limited about the rating revision under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made through proper channels with Company Secretary Payal M Puri signing the communication on March 31, 2026.

Ongoing Monitoring

CARE Ratings will continue monitoring the situation and will take a definitive view on the ratings once the exact implications of the corporate restructuring on the company's credit risk profile become clear. The Rating Watch with Developing Implications status indicates that further rating actions may follow based on how the demerger and amalgamation scheme progresses and its impact on the company's financial position.