IFB Agro Industries Limited confirmed the retirement of Soumitra Chakraborty from his role as Chief Executive Officer of the Marine Business division. The change is effective from the close of business hours on September 30, 2026.

The departure follows Mr. Chakraborty’s attainment of the age of superannuation. The company disclosed this development in a filing to stock exchanges, citing compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Disclosure details

The company submitted the required particulars under Schedule III - Para A (7C) of Part A of the SEBI LODR Regulations. The disclosure confirms that the change is solely due to retirement and does not involve any other factors.

The information regarding this senior management change has been made available on the company’s website at www.ifbagro.in for public reference.

IFB Agro Industries Limited shareholders approved the appointment of Rahul Choudhary and Santanu Ghosh as Executive Directors at the company's 44th Annual General Meeting (AGM) held on July 29, 2026. The appointments, recommended by the Nomination and Remuneration Committee and the Board of Directors, were formalized through special resolutions passed with over 99% support. Choudhary was appointed as Executive Director – Finance, Strategy & Acquisition and Chief Financial Officer for five years, while Ghosh was appointed as Executive Director – Operations & Chief Executive Officer – Distillery Business for three years. Both appointments are effective from May 28, 2026.

The meeting also saw the re-appointment of Arup Kumar Banerjee as a Director through an ordinary resolution after he retired by rotation. All six resolutions presented at the AGM, conducted via Video Conferencing/Other Audio Visual Means (VC/OAVM), were passed with requisite majority. The scrutinizer report from Labh & Labh Associates confirmed that only 62 votes were cast against the financial statements and director appointments, reflecting strong shareholder confidence in the new management structure.

Leadership Profiles and Tenure

Rahul Choudhary, 54, brings over 30 years of experience in finance, banking, taxation, and mergers and acquisitions. A Chartered Accountant, Cost Accountant, and Company Secretary, Choudhary commenced his career in 1995 with Usha Martin Group. He joined IFB Agro Industries Limited in April 2007 as General Manager – Finance and Company Secretary, served until 2014, moved to IFB Industries Limited, and rejoined IFB Agro as CFO on December 2, 2017. His new role expands his responsibilities to include strategy and acquisitions.

Santanu Ghosh, 63, holds an M.Sc. in Biochemistry from Calcutta University and has completed leadership certification at ISB Hyderabad and DuPont's Process Safety Management course. With over 37 years of experience in distillery operations and by-products management, Ghosh joined the company in 1988 as a Trainee Chemist. His appointment solidifies operational leadership for the distillery business segment.

Operational Context and Strategic Moves

Chairman Bikramjit Nag informed shareholders that while FY26 performance improved compared to the previous year, the distillery segment faced headwinds including compressed margins due to price cuts in Ethanol and Ordinary Denatured Spirit. By-product prices for Distiller's Dried Grains with Soluble and Carbon Di-Oxide also declined. Operational disruptions occurred due to intermittent production stoppages caused by high stock levels and illegal interference by State Excise authorities, prompting representations to the Chief Secretary for an independent enquiry.

Strategically, IFB Agro acquired the commercial compound shrimp feed and freshwater fish feed business from Cargill India Private Limited effective August 1, 2025, for ₹110 crore plus working capital. The acquired business had an annual turnover of ₹353 crore as of March 31, 2025. Additionally, the IFB Vietnam subsidiary began initial commercial operations in April 2026, aiming to achieve break-even during the current financial year.

Voting Results Summary

The audited standalone and consolidated financial statements for the year ended March 31, 2026, were adopted without qualification. Statutory auditors MSKA & Associates LLP provided an unmodified audit report, and the secretarial auditor's report contained no adverse remarks.