JK Tyre & Industries Ltd. has announced the cessation of Shri Shreekant Somany as Independent Director, effective March 16, 2026. The company informed both BSE and National Stock Exchange of India about this board change through a regulatory filing dated March 16, 2026.

Director Tenure Completion

Shri Shreekant Somany, holding Director Identification Number (DIN) 00021423, completed his tenure as Independent Director on March 15, 2026. Following the completion of his term, he ceased to be a director of the company with effect from March 16, 2026.

Regulatory Compliance

The company has assured that despite this change in board composition, it continues to maintain compliance with all prescribed requirements. The Board of Directors composition remains in accordance with the provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Filing Details

This intimation was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates companies to disclose material events and information. The communication was signed by Company Secretary Kamal Kumar Manik and filed with both stock exchanges where the company's shares are listed.

JK Tyre & Industries Ltd's board of directors has approved a strategic investment of ₹5.04 crore to acquire a minimum 26% equity stake in Sunpulse Power Private Ltd, a solar energy company. The decision was taken during the board meeting held on March 5, 2026, as part of the company's efforts to meet regulatory requirements for captive power consumption.

Investment Details

The acquisition involves a cash consideration of ₹5.04 crore for acquiring minimum 26% equity shares of Sunpulse Power Private Ltd (SPPL). The board has authorized the signing of Share Transfer and Shareholders Agreement for this strategic investment.

About Sunpulse Power Private Ltd

Sunpulse Power Private Ltd is engaged in power generation using solar energy. The company was incorporated on July 27, 2025, and operates as a wholly owned subsidiary of Oriana Power Limited. SPPL's registered office is located at 45D, Pocket-F, GTB Enclave, Dilshad Garden, North East Delhi, Delhi-110093.

Strategic Rationale

The acquisition is primarily driven by regulatory compliance requirements. JK Tyre & Industries will acquire and maintain the minimum 26% stake in SPPL throughout the term of various agreements including:

• Power Purchase Agreement
• Share Transfer Agreement
• Shareholders Agreement

This investment aligns with the company's need to comply with captive power consumption requirements under Indian Electricity laws. The transaction does not fall within related party transactions, and no promoter or group companies have any interest in the entity being acquired.

Transaction Structure

The deal structure is straightforward with cash consideration and no complex regulatory hurdles. The acquisition is expected to be completed within 90 days from the board approval date. No governmental or regulatory approvals are required for this transaction, which should facilitate a smooth completion process.

The board meeting concluded at 5:30 PM on March 5, 2026, with Company Secretary Kamal Kumar Manik signing the disclosure documents. This investment represents JK Tyre's strategic move into renewable energy partnerships to ensure sustainable power supply for its operations.