IRCON International has announced a board meeting scheduled for May 22, 2026, pursuant to Regulation 29. The meeting has been intimated to the stock exchanges in accordance with applicable regulatory requirements.

Board Meeting Details

The following key details have been disclosed regarding the upcoming board meeting:

Regulatory Compliance

The intimation has been filed in compliance with the prescribed disclosure norms under Regulation 29. Such notifications are a standard regulatory requirement for listed companies ahead of board meetings convened to consider financial results. The disclosure ensures transparency and timely communication with market participants regarding scheduled board deliberations.

IRCON International's board will convene on the aforementioned date to review and consider the financial results for FY26. Stakeholders and investors are advised to refer to official exchange filings for further updates following the board meeting.

IRCON International Limited's Board of Directors convened a meeting on 7th May, 2026, addressing two significant matters: the designation of Shri Rajesh Naik as Key Managerial Personnel (KMP) and the board's formal response to exchange fines imposed for non-compliance with SEBI (LODR) Regulations, 2015 pertaining to board and committee composition for the quarter ended 31st December, 2025.

Board Comments on Exchange Fine

NSE and BSE, vide their letter and email dated 27th February, 2026, respectively, imposed a fine on IRCON for non-compliance with Regulations 17(1), 18(1), and 19(1)/19(2) of SEBI (LODR) Regulations, 2015. The non-compliance related to the composition of the Board of Directors and its committees — specifically the Audit Committee and the Nomination & Remuneration Committee — for the quarter ended 31st December, 2025.

In response, the Board noted its position at the meeting held on 7th May, 2026. The company had already sent a clarification letter to NSE and BSE dated 28th February, 2026, vide letter No. IRCON/SECY/STEX/124. The Board's formal stance was as follows:

• IRCON International Limited is a Government Company under Section 2(45) of the Companies Act, 2013.
• The power to appoint Directors, including Independent Directors and Woman Directors, vests with the President of India.
• All Directors are appointed by the Government of India through the Ministry of Railways (MoR).
• IRCON has no role in the appointment of any Director unless nominated by the Government of India.
• IRCON has been continuously requesting MoR for the appointment of the requisite number of Independent Directors to ensure compliance.
• Accordingly, the Board stated that the levy of fine is unreasonable and not applicable to IRCON.

Designation of Shri Rajesh Naik as Key Managerial Personnel

Pursuant to Section 203 of the Companies Act, 2013, read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Board approved the designation of Shri Rajesh Naik as KMP. The key details of the appointment are presented below:

Profile of Shri Rajesh Naik

Shri Rajesh Naik is a seasoned professional with over 32 years of experience, including over 12 years of international experience across Oman, Bangladesh, Guyana, Botswana, Paraguay, Uruguay, and the Philippines. His expertise spans Planning, Engineering, Project Management, Contract Management, Risk Management, Dispute Resolution, Marketing, and Strategy for large-scale infrastructure projects covering Railways, Highways & Bridges, ROBs/RUBs, Buildings, and Port Connectivity across India and abroad.

Shri Naik holds a Bachelor's degree in Civil Engineering and is a certified professional in Advanced Project Management and Contractual Dispute Resolution from AIMA. He is a Lifetime Member of the Chartered Institute of Logistics and Transport (CILT) and the Indian Roads Congress (IRC). His prior leadership roles span multiple organisations, including RITES Ltd., Indian Port Rail & Ropeway Corporation Ltd., Engineering Projects (India) Ltd., Kalpataru Power Transmission Ltd., IRCON International Ltd., and Konkan Railway Corporation Ltd. Most recently, he served as Chief Strategy Officer (CSO) and Chief Operating Officer (COO), RITES EXPOCON, in RITES Limited in the capacity of Executive Director (Strategy & Corporate Communication).

Meeting Details

The Board Meeting commenced at 3:00 P.M. and concluded at 4:30 P.M. on 7th May, 2026. The disclosures were made pursuant to Regulation 30 read with Schedule III of the SEBI (LODR) Regulations, 2015, and were submitted to both BSE Limited and the National Stock Exchange of India Limited.