IFGL Refractories promotes Akshay Bajoria to President

ifgl refractories has promoted Mr Akshay Bajoria to the position of President – Business Development & Strategy effective July 15, 2026. The appointment elevates Bajoria, who was previously serving as Assistant Vice-President – Sales & Marketing, to the rank of Senior Management Personnel. This strategic internal move follows his nearly 15-year tenure with the company, during which he progressed from a Trainee to a leadership role driving growth.

The promotion was disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Bajoria is a graduate in Finance and Business Administration. His new role places him within the ambit of Senior Management Personnel as defined in Regulation 16(1)(d) of the SEBI regulations.

Key Appointment Details

The following table outlines the transition in Bajoria's role within IFGL Refractories:

Aspect	Details
New Designation	President – Business Development & Strategy
Previous Designation	Assistant Vice-President – Sales & Marketing
Effective Date	July 15, 2026
Tenure with Company	Nearly 15 years
Regulatory Status	Senior Management Personnel

The company confirmed that the disclosure is available on its official website. IFGL Refractories' Board and management continue to focus on strengthening its leadership team to support business development and strategic initiatives.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+7.09%	+6.23%	+15.62%	+13.41%	-12.57%	+1.41%

IFGL Refractories has expanded its global footprint by incorporating a wholly-owned subsidiary in Saudi Arabia. The new entity, IFGL Monocon Saudi Company Ltd, was established on July 11, 2026, to strengthen the company's presence in the refractory industry. This strategic move aims to facilitate trading activities, specifically the buying and selling of refractories and related ancillary products and services.

The subsidiary is fully owned by IFGL Refractories Ltd, which will subscribe to 1,000 shares of SAR 100 each. This investment structure ensures complete control over the new entity while aligning with the company's broader operational goals. The incorporation does not require any specific governmental or regulatory approvals, as indicated in the regulatory filing.

Key Details of the Incorporation

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The following table summarizes the key particulars of the new subsidiary:

Particulars	Details
Name of Entity	IFGL Monocon Saudi Company Ltd
Country of Incorporation	Saudi Arabia
Date of Incorporation	July 11, 2026
Industry	Refractory Industry
Business Activity	Trading of refractories and ancillary products
Shareholding	100% held by IFGL Refractories Ltd
Subscription Details	1,000 shares of SAR 100 each

The establishment of IFGL Monocon Saudi Company Ltd marks a significant step in the company's international expansion strategy. By setting up a dedicated trading arm in the Middle East, IFGL Refractories aims to leverage growing market opportunities in the region. The subsidiary will focus on streamlining the supply chain and enhancing market reach for the company's refractory products.