Kalyani Steels Independent Director ceases to be director

Kalyani Steels Limited has accepted the cessation of Amb. Ahmad Javed as an Independent Director effective June 26, 2026, following the completion of his second term. The company informed the stock exchanges that the director's tenure concluded on June 25, 2026, in accordance with the terms approved by shareholders.

The members at the Forty-Ninth Annual General Meeting held on August 1, 2022, had approved the re-appointment of Amb. Ahmad Javed for a second term. This term was set for a period of five consecutive years, commencing on June 26, 2023, and ending on June 25, 2026.

The disclosure was made to BSE Limited and the National Stock Exchange of India Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company referenced SEBI Master Circular No.HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, in its filing.

Details of Cessation

The company provided specific details regarding the change in its board composition through an annexure to the regulatory filing. The table below outlines the particulars of the director's exit.

No.	Particulars	Description
1.	Reason for change	Completion of Second Term of office of Amb. Ahmad Javed (DIN 08668304 and IDDB Registration No. IDDB-DI-202006-028656), as an Independent Director of the Company on June 25, 2026
2.	Date of cessation	Amb. Ahmad Javed has ceased to be Director of the Company, with effect from June 26, 2026, on completion of his Second Term.
3.	Brief Profile	Not Applicable
4.	Disclosure of relationships	Not Applicable

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.47%	-4.21%	+7.39%	+31.52%	-5.16%	+113.28%

Kalyani Steels Limited has secured shareholder approval to appoint Mr. Shishir Joshipura as an Independent Director for a term of four years from May 8, 2026, to May 7, 2030. The resolution was passed via a special resolution through a postal ballot process, receiving overwhelming support from investors. This appointment strengthens the company's board governance structure as it moves forward with its strategic objectives.

The Board of Directors approved the proposal at a meeting held on May 8, 2026. Mr. Shishir Joshipura (DIN 00574970) meets the criteria for independence as prescribed in Section 149(6) of the Companies Act, 2013 and Regulation 16(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The remote e-voting period commenced on May 22, 2026, and concluded on June 20, 2026. Kalyani Steels appointed Mr. Sridhar Mudaliar or Mrs. Meenakshi Deshmukh, Partners of M/s. SVD & Associates, Company Secretaries, Pune, as the Scrutinizer to ensure the voting process was conducted fairly and transparently. The results were scrutinized pursuant to Regulation 44 of the Listing Regulations.

A total of 34,262,876 votes were polled, representing 78.4891% of the outstanding shares. The resolution received 34,261,492 votes in favour, accounting for 99.9960% of the total votes polled. Only 1,384 votes were cast against the resolution, which constituted 0.0040% of the total votes. There were no invalid votes recorded during the process.

Voting Breakdown by Shareholder Category

The voting participation varied across different shareholder categories. Promoter and Promoter Group held 28,244,202 shares, with 28,153,561 votes polled, resulting in a 99.6791% participation rate. Public Institutions held 5,715,354 shares, with 5,364,686 votes polled, representing a 93.8645% participation rate. Public Non-Institutions held 9,693,504 shares, with 744,629 votes polled, resulting in a 7.6817% participation rate.

Detailed Voting Results

Category	Shares Held	Votes Polled	% of Votes Polled	Votes in Favour	Votes Against
Promoter and Promoter Group	28,244,202	28,153,561	99.6791	28,153,561	-
Public Institutions	5,715,354	5,364,686	93.8645	5,364,686	-
Public Non-Institutions	9,693,504	744,629	7.6817	743,245	1,384
Total	43,653,060	34,262,876	78.4891	34,261,492	1,384

The Scrutinizer's report confirmed compliance with the provisions of the Companies Act, 2013, and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company had dispatched the Postal Ballot Notice to members on May 19, 2026, and published an advertisement on May 20, 2026, to inform shareholders about the voting process. The results have been submitted to the BSE Limited and the National Stock Exchange of India Limited.