KVS Castings Limited Board Recommends Re-appointment of Independent Director for Second Term

KVS Castings Limited has announced that its Board of Directors has recommended the re-appointment of Mr. Jaswinder Singh Ahluwalia as an Independent Director for a second term of five consecutive years. The decision was taken during the board meeting held on Wednesday, April 15, 2026.

Board Meeting Outcomes

The board's recommendation pertains to Mr. Jaswinder Singh Ahluwalia (DIN: 03311764), who will serve in the category of Non-Executive Director. In accordance with Section 149(10) of the Companies Act, 2013 and Regulation 25 of SEBI (LODR) Regulations, 2015, this re-appointment requires approval from members through a Special Resolution via postal ballot and e-voting.

Parameter:	Details
Director Name:	Mr. Jaswinder Singh Ahluwalia
DIN:	03311764
Position:	Independent Director (Non-Executive)
Term Duration:	Five consecutive years (Second term)
Approval Method:	Special Resolution through Postal Ballot

Postal Ballot Process

The Board has approved the Postal Ballot Notice, which incorporates the proposed resolution and explanatory statement under Section 102 of the Companies Act, 2013. The company has made several key appointments and authorizations for the postal ballot process:

Scrutinizer: M/s. Nishi & Associates, Practicing Company Secretaries, Kashipur
Process Conductor: Company Secretary has been authorized to conduct the postal ballot
Advertisement: Approval granted for publishing advertisements for the postal ballot purpose

Additional Board Decisions

During the first board meeting for FY 2026-27, the board addressed multiple agenda items beyond the director re-appointment:

S. No.:	Board Decisions
1	Omnibus approval for Related Party Transactions for quarter ending June 30, 2026
2	Re-appointment recommendation for Independent Director
3	Approval of Postal Ballot notice and explanatory statements
4	Authorization for company secretary/director to conduct postal ballot
5	Appointment of scrutinizer for postal ballot process
6	Approval for postal ballot advertisement publication

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015. The re-appointment recommendation follows the recommendation received from the Nomination & Remuneration Committee of the Board, ensuring proper governance procedures are followed.

The company, headquartered in Kashipur, Uttarakhand, operates from multiple locations including Village Girdhiyai & Baghelewala on Aliganj Road and Industrial Estate on Bazpur Road. KVS Castings Limited is incorporated under CIN L27100UR2019PLC012217 and trades on BSE under scrip code 544554 with the symbol KVSCASTING.

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KVS Castings Limited has received credit ratings from Crisil Ratings Limited for its bank loan facilities, marking a significant milestone in the company's financial profile. The foundry division company informed the stock exchange about this development as part of its regulatory compliance obligations.

Credit Rating Details

Crisil Ratings Limited has assigned comprehensive credit ratings to KVS Castings Limited's banking facilities. The rating assessment covers the company's ability to meet its financial obligations and reflects its creditworthiness in the market.

Rating Parameter:	Details
Total Bank Loan Facilities Rated:	₹80 Crore
Long Term Rating:	Crisil BBB-/Stable
Short Term Rating:	Crisil A3
Rating Date:	April 05, 2026

The BBB-/Stable rating indicates that the company has adequate capacity to meet its financial commitments, with the stable outlook suggesting that the rating is unlikely to change in the near term. The A3 short-term rating reflects adequate liquidity and cash flow to meet short-term obligations.

Regulatory Compliance and Disclosure

The company has fulfilled its regulatory obligations by informing BSE Limited on April 06, 2026, pursuant to Regulation 30(6) read with Schedule III, Part A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Shweta Mehrotra signed the disclosure document, ensuring proper compliance with listing requirements.

The rating information has been made available to stakeholders through multiple channels:

Filed with BSE Limited for public disclosure
Uploaded on the company's official website at kvscastings.com
Rating letter from Crisil Ratings Limited attached to the filing

Rating Process and Acceptance

The rating process involved comprehensive evaluation by Crisil Ratings, with the company accepting the assigned ratings on March 31, 2026. Director Puneet Mittal formally accepted the ratings on behalf of KVS Castings Limited, enabling Crisil to publish and maintain surveillance on these ratings.

Crisil Ratings will keep the assigned ratings under continuous surveillance and may revise them as circumstances warrant. The rating agency has clarified that these ratings reflect their current opinion on the likelihood of timely payment of obligations and do not constitute investment recommendations.

Company Profile

KVS Castings Limited, formerly known as KVS Castings Private Limited, operates in the foundry sector with facilities located in Uttarakhand. The company's registered office is situated in Village Girdhiyai & Baghlelwala, Aliganj Road, Kashipur, with additional works at Industrial Estate, Bazpur Road, Kashipur.