Kiri Industries Limited has successfully concluded its postal ballot process for the reappointment of three key directors, with all resolutions receiving strong shareholder support through the remote e-voting system.

Postal Ballot Process Overview

The company conducted the postal ballot voting through remote e-voting from Monday, February 23, 2026 at 9:00 a.m. (IST) to Tuesday, March 24, 2026 at 5:00 p.m. (IST). The process was conducted in accordance with Section 108 and 110 of the Companies Act, 2013, and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The cut-off date for determining eligible shareholders was set as Friday, February 13, 2026, with the postal ballot notice dated February 10, 2026. Rajesh C. Tarpara, Partner of RTBR & Associates, Practicing Company Secretaries, served as the scrutinizer for the voting process.

Director Reappointments and Voting Results

All three resolutions for director reappointments were passed with overwhelming shareholder support:

Resolution 1: Reappointment of Mr. Manish Kiri as Chairman and Managing Director

This special resolution was passed with 98.54% votes in favour, with 294 voters participating and 28882085 total valid votes cast.

Resolution 2: Reappointment of Mr. Girish Tandel as Whole Time Director

This ordinary resolution received 98.93% support with 296 voters and 32862158 total valid votes.

Resolution 3: Reappointment of Mr. Yagnesh Mankad as Whole Time Director

This special resolution was approved with 98.92% votes in favour from 295 participating voters and 32762158 total valid votes.

Regulatory Compliance and Process

The postal ballot process was conducted entirely through electronic means, with the notice dispatched electronically to shareholders whose email addresses were registered with the company as on the cut-off date. The company published advertisements in Financial Express (English) and Jayhind (Gujarati) newspapers on February 21, 2026, as required under the Companies (Management and Administration) Rules, 2014.

The scrutinizer's report confirmed that all resolutions were passed with the requisite majority by the company's members. The voting process was witnessed by Ms. Aditi Jain and Ms. Aastha Rathi during the unblocking of votes on March 24, 2026.

Corporate Governance

The reappointments align with SEBI Regulation 17(1C) requirements, which mandate shareholder approval for board appointments within three months of the appointment date. The strong shareholder support across all three resolutions demonstrates confidence in the company's leadership team and governance practices.

The company's total paid-up equity share capital comprises 60022554 shares, with promoter and promoter group holding 22038829 shares, public institutions holding 11499547 shares, and public non-institutions holding 26484178 shares.

Kiri Industries Limited has submitted a revised investor presentation for March 2026 to stock exchanges under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company acknowledged that an incorrect version was inadvertently uploaded initially and has now provided the updated presentation.

Presentation Submission Details

Company Secretary Suresh Gondalia signed and submitted the revised presentation on March 20, 2026. The presentation is also available on the company's website at www.kiriindustries.com .

DyStar Resolution Brings Major Capital Realization

The presentation highlights the successful conclusion of the prolonged legal dispute relating to the company's investment in DyStar following the final order of the Singapore Court. This resolution has resulted in substantial capital realization for Kiri Industries.

Strategic Diversification into Copper and Fertilizers

With the DyStar matter resolved, Kiri Industries is entering a new strategic phase focused on long-term growth through diversification. The company has established Indo Asia Copper Limited and IndoAsia Agrotech Fertilizers Limited as wholly owned subsidiaries to develop an integrated copper smelting and fertilizer complex in Jafrabad, Gujarat.

Copper Project Specifications

The copper smelting facility will process imported copper concentrate and copper scrap into refined copper products, addressing India's structural copper supply gap.

Integrated Fertilizer Operations

The fertilizer project will utilize sulfur dioxide generated during copper smelting for phosphatic fertilizer production, improving overall project economics through efficient by-product utilization.

Project Investment and Progress

The integrated copper and fertilizer project represents a significant capital deployment with substantial expected returns.

Environmental Clearance was obtained from the Ministry of Environment, Forest and Climate Change in November 2024. Land acquisition is substantially completed, and site development activities are progressing well with construction work commenced under a 36-month completion timeline from October 1, 2025.