IFB Industries Limited has announced the resignation of its Managing Director Mr. Panamanna Hariharan Narayanan, effective April 1, 2026. The company disclosed this development on March 28, 2026, in compliance with regulatory requirements under SEBI listing obligations.

Resignation Details

The resignation was formally communicated through an email dated March 27, 2026, where Narayanan expressed his intention to retire from the position of Managing Director of the Engineering Division. The departure is attributed to personal commitments requiring his attention.

Regulatory Compliance

IFB Industries has fulfilled its disclosure obligations under Regulation 30 read with Schedule III of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company submitted the required information to both BSE Limited and The National Stock Exchange of India Limited.

Leadership Transition

In his resignation email, Narayanan expressed gratitude for the opportunity to serve in the role and acknowledged the support received during his tenure. He described his time with the organization as a privilege, highlighting his contribution to the company's operations over the past 2.5 years.

The resignation represents a significant leadership change for IFB Industries' Engineering Division, as the company transitions from Narayanan's management approach. The formal documentation was signed by Company Secretary Ritesh Agarwal and submitted to the stock exchanges as per regulatory requirements.

Corporate Governance

The company has maintained transparency in its disclosure process, providing detailed information as mandated by SEBI regulations. The resignation follows proper corporate governance protocols, with all necessary documentation submitted to relevant authorities and stakeholders informed through appropriate channels.

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.