Kajaria Ceramics Limited has announced a change in its senior management personnel at the Gailpur Plant. The Board of Directors has approved the appointment of Mr. Parag Goel as the Senior Management Personnel, designated as the President Operations – Gailpur Plant, effective from May 26, 2026. This appointment follows the resignation of Dr. Rajveer Choudhary, who ceased to hold the position of COO (Gailpur Plant) effective May 23, 2026. The company disclosed that Dr. Rajveer Choudhary resigned due to personal reasons as discussed with the Chairman of the Company.

Mr. Parag Goel brings over 30 years of experience, having previously served as the Head of the Neemrana Plant and Group Safety Head at Hero MotoCorp. His expertise spans plant operations, automation, Industry 4.0, and cost optimization. He has successfully led multiple greenfield and brownfield projects across India and Bangladesh, focusing on operational excellence and sustainability initiatives. Known for driving operational excellence, he has implemented Lean, TPM, Kaizen, and advanced technologies such as cobots and AGVs to build future-ready plants. He has also led sustainability initiatives focused on energy efficiency, water conservation, and carbon footprint reduction. A people-centric leader, he has built high-performing teams and promoted gender diversity on the shop floor.

Details of Appointment

The company disclosed the specifics of the appointment in a regulatory filing. The decision was taken based on the recommendation of the Nomination and Remuneration Committee.

The appointment is effective immediately as per the terms communicated to the stock exchanges. The company has informed BSE Limited and the National Stock Exchange of India Limited regarding this change in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Kajaria Ceramics Limited has completed the dispatch of the Notice of Postal Ballot regarding its proposed share buyback. The company submitted copies of newspaper advertisements published on May 24, 2026, to the stock exchanges, confirming the completion of the despatch process. The Board of Directors had previously approved the proposal on April 30, 2026, to repurchase up to 21,50,000 fully paid-up equity shares, representing 1.35% of the total paid-up equity capital as of March 31, 2026.

The buyback offer price is fixed at ₹1,380 per equity share, payable in cash. The total aggregate consideration for the proposed buyback will not exceed ₹296.70 crore, excluding taxes and transaction costs. The offer size constitutes approximately 10.27% and 9.87% of the aggregate of the company's paid-up capital and free reserves as per the audited standalone and consolidated financial statements for the year ended March 31, 2026, respectively.

Buyback Structure and Pricing

The repurchase will be executed through the "Tender Offer" route on a proportionate basis. The offer price of ₹1,380 per share represents a premium of 42.70% and 42.87% over the volume weighted average market price on the National Stock Exchange (NSE) and BSE Limited, respectively, during the three months preceding the intimation date of April 22, 2026.

The company has reserved 15% of the total shares proposed to be bought back for small shareholders. The Promoter and members of the Promoter Group have expressed their intention not to participate in the buyback.

E-Voting Schedule and Process

Shareholders are required to vote on the resolution through remote e-voting. The company confirmed that the Notice of Postal Ballot was dispatched through electronic mode on Saturday, May 23, 2026. The voting period commences at 9:00 a.m. (IST) on Sunday, May 24, 2026, and ends at 5:00 p.m. (IST) on Monday, June 22, 2026. The e-voting module will be disabled after this period, and no changes to cast votes will be permitted.

Voting rights shall be reckoned on the Cut-off Date of Monday, May 18, 2026. The results of the postal ballot are expected to be announced on or before the close of working hours on Tuesday, June 23, 2026. The company has appointed Mr. Rupesh Agarwal of M/s Chandrasekaran Associates as the Scrutinizer to oversee the voting process.

Financial Implications and Funding

The funds for the buyback will be sourced from the company's free reserves, specifically retained earnings, and internal accruals. The company confirmed that it will not utilize borrowed funds or proceeds from earlier share issues for this purpose. Following the buyback, the company intends to transfer an amount equal to the nominal value of the repurchased shares to the Capital Redemption Reserve Account.