IFB Industries Limited has published its postal ballot notice in newspapers on March 24, 2026, officially commencing the e-voting period for six key resolutions. The company filed the newspaper publication disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, confirming the start of electronic voting process.

Newspaper Publication and Voting Timeline

The postal ballot notice was published in two newspapers on March 24, 2026 - 'Financial Express' in English and 'Aajkal' in Bengali. The publication marks the official commencement of the e-voting period for shareholders.

Board Restructuring Proposals

The postal ballot encompasses multiple director appointments and re-appointments across different categories:

Director Profiles and Expertise

Mrs. Sreedevi Pillai (DIN: 08944944), aged 62, brings extensive banking experience with over 36 years at State Bank of India, retiring as Chief General Manager, Risk Management. She holds an MSc in Mathematics from St. Stephen's College, University of Delhi, and specializes in risk management, fraud management, and climate risk.

Mr. Saurav Adhikari (DIN: 08402010), aged 67, is a seasoned global business leader with four decades of experience across technology, FMCG, and consumer durables sectors. He holds a B.A. (Honors) in Economics from Hindu College, Delhi University, and an MBA from JBIMS, Bombay University.

Mr. Subir Chakraborty (DIN: 00130864), aged 68, is a Mechanical Engineer from IIT Madras with PGDM from IIM Calcutta. He served as Managing Director of Exide Industries Limited until April 30, 2024, and brings over four decades of experience in marketing, sales, projects, and general management.

Mr. Tarun Kumar Daga (DIN: 01686499), aged 60, holds a Bachelor of Engineering from BITS Pilani and MBA from IIM Lucknow. He recently served as President & CEO of Tata Steel Thailand, Bangkok (December 2022 to January 2026) and has over 35 years of experience in marketing, sales, operations, and general management.

Cost Auditor Ratification

The ballot includes ratification of remuneration for M/s Mani & Co., Cost Accountants (Firm Registration No. 000004), appointed as Cost Auditors for the financial year ending March 31, 2026. The approved remuneration stands at ₹ 9 lakhs plus applicable taxes and reimbursement of out-of-pocket expenses.

E-Voting Process and Compliance

The company has engaged National Securities Depository Limited (NSDL) to provide remote e-voting facility to shareholders. Mr. A.K Labh, Practicing Company Secretary (FCS 4848/CP-3238) has been appointed as Scrutinizer to ensure fair and transparent voting process.

Shareholders whose names appear in the Register of Members or List of Beneficial Owners as on the cut-off date and have registered email addresses are eligible to vote electronically. The postal ballot notice was dispatched electronically on March 23, 2026 to all eligible shareholders with registered email addresses.

Results will be displayed on the company's website www.ifbindustries.com and communicated to stock exchanges, NSDL, and CDSL. The resolutions, if passed by requisite majority, will be deemed effective from the last date of remote e-voting, i.e., April 22, 2026.

IFB Industries Limited has announced changes to its board composition, with the completion of one independent director's term and the appointment of a new independent director in his place.

Board Transition Details

The company disclosed that Mr. Biswadip Gupta's term as Independent Director concluded on February 9, 2026, marking the end of his tenure with the organization. Following this transition, the Board of Directors approved the appointment of Mr. Tarun Kumar Daga as his replacement through a circular resolution passed on February 10, 2026.

New Director Profile

Mr. Tarun Kumar Daga, aged 60 years, brings extensive experience to the board with more than 35 years of professional expertise across various capacities in marketing, sales, operations, and general management. His recent leadership role included serving as President & CEO of Tata Steel Thailand, Bangkok, from December 2022 to January 2026.

Professional Background

Mr. Daga's career highlights include significant leadership positions within the Tata Group:

• Managing Director of Tata Steel Utilities & Infrastructure Services Limited for 4 years
• Managing Director of The Tinplate Company of India Limited for 9 years
• Led multi-location operations in India and Thailand

His expertise encompasses driving sustainable growth, operational excellence, and market leadership. He has demonstrated particular interest in performance improvement through Total Quality Management, Business Excellence, and Total Plant Maintenance (TPM), while holding various industry leadership positions.

Regulatory Compliance

The appointment follows recommendations from the company's Nomination and Remuneration Committee and complies with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The appointment remains subject to approval by the company's members.

Mr. Daga is not related to any existing director of the company and has not been debarred from holding directorial positions by SEBI or any other regulatory authority. This board transition ensures continuity in the company's governance structure while bringing fresh expertise to guide strategic initiatives.