IFGL Refractories Limited has successfully completed the e-voting process for appointing Mr Mihir Prakash Bajoria as Managing Director through postal ballot. The special resolution was passed on 2nd May, 2026, with overwhelming shareholder approval, marking a significant corporate governance milestone for the company.

E-Voting Results and Approval

The postal ballot process concluded with strong shareholder support, as detailed in the voting results:

The e-voting period remained open from 9:00 AM on 3rd April, 2026 till 5:00 PM on 2nd May, 2026, with the cut-off date for voting eligibility set as 27th March, 2026.

Appointment Details

The special resolution approved the appointment of Mr Mihir Prakash Bajoria with the following terms:

Voting Pattern Analysis

The voting results showed varied participation across different shareholder categories:

Notably, relatives of Mr Mihir Prakash Bajoria, including HUF being part of the Promoter/Promoter Group, abstained from voting on the resolution due to their interest in the matter.

Regulatory Compliance

The postal ballot process was conducted in compliance with Section 110 of the Companies Act, 2013, and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. CS P K Sarawagi of M/s P Sarawagi & Associates served as the Scrutinizer for the e-voting process.

The company utilized NSDL as the e-voting service provider, ensuring a secure and transparent voting mechanism. The postal ballot notice dated 30th March, 2026 was disseminated through email on 31st March, 2026, and published on the company's website and stock exchange platforms. The voting results and scrutinizer's report have been made available on the company's website at www.ifglgroup.com and on NSDL's e-voting platform, ensuring complete transparency in the corporate governance process.

IFGL Refractories Limited has officially appointed Mr Mukesh Harshadrai Rawal as Additional Director and Non-Executive Non-Independent Director, effective 21st April, 2026. The appointment was approved by the Board of Directors following a recommendation from the Nomination and Remuneration Committee (NRC) and disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Appointment Details

The company formally communicated the appointment to both NSE and BSE on 22nd April, 2026, through an official regulatory disclosure. The Board approved Mr Rawal's appointment by passing a resolution by circulation, subject to necessary approvals including shareholder consent.

Future Leadership Transition

Following the NRC's recommendation, Mr Rawal is proposed for appointment as Whole-time Director of the company. He is slated to assume the combined role of Director and Chief Executive Officer from 16th August, 2026, subject to requisite approvals from the Board, shareholders, and the Central Government. Upon taking this new position, he will cease to hold the office of President of MCI at the close of business hours on 15th August, 2026.

Professional Background and Experience

Mr Rawal brings extensive industry expertise to his new role with over four decades of experience in the IFGL Group:

Regulatory Compliance and Governance

The company confirmed that Mr Rawal is not debarred from holding the office of Director by any order of the Securities and Exchange Board of India or any other statutory authority. As part of corporate governance requirements, the company disclosed that Mr Rawal is not related, either directly or indirectly, to any existing Director of the company.

The official disclosure has been hosted on the company's website at ifglgroup.com and is available in the investor announcements section, ensuring full transparency and compliance with regulatory requirements.