Lykis Limited has announced the resignation of Mr. Rajendra Singhvi from his position as Non-Executive Independent Director, effective March 27, 2026. The company informed BSE Limited about this development in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Director Details and Resignation

Mr. Rajendra Singhvi, holding Director Identification Number (DIN) 08322932, submitted his resignation letter on March 27, 2026. The resignation became effective immediately on the same date. In his resignation letter, Mr. Singhvi cited "change in management" as the primary reason for his departure from the board.

Board Committee Positions

Prior to his resignation, Mr. Singhvi held significant positions on key board committees. He served as a member of the Audit Committee and held the position of Chairman of the Stakeholder Relationship Committee. These roles are crucial for corporate governance and oversight functions within the company.

Regulatory Compliance

Lykis Limited has confirmed that it received written confirmation from Mr. Singhvi stating that there are no material reasons for his resignation other than those mentioned in his resignation letter dated March 27, 2026. The company has fulfilled all disclosure requirements as mandated under Schedule III - Para A(7B) of Part A of the Listing Regulations and SEBI Circular No CIR/CFD/CMD/4/2015 dated September 9, 2015.

The resignation intimation has been uploaded on the company's website at www.lykis.com , ensuring transparency and accessibility for stakeholders. Managing Director Nadir Dhrolia signed the official communication to BSE Limited, confirming the company's compliance with all regulatory requirements related to the directorship change.

Lykis Limited has issued a regulatory disclosure warning of material adverse impacts on its export operations and financial performance due to the ongoing Middle East conflict. The Mumbai-based FMCG, cosmetics, and personal care company, which exports to over 40 countries globally, faces significant operational disruptions affecting its international business model.

Export Route Disruptions

The company's export routes to key destinations in Africa, the Middle East, and other regions have been severely disrupted due to escalating hostilities in the Red Sea and Gulf of Aden region. This has resulted in shipping and freight partners increasing costs and creating heightened risks of order fulfillment delays to international customers and distribution partners.

The company's private label and contract manufacturing commitments, including obligations to international brand partners and retailers, may also face delays. While Lykis Limited is communicating proactively with affected customers and exploring contingency arrangements, the company cannot guarantee complete avoidance of service disruptions.

Strategic African Market Exposure

Africa represents a strategically significant and growing export destination for Lykis Limited. The company distributes products spanning personal care, oral care, skin care, baby care, FMCG food products, and cosmetics across East, West, and North Africa markets. These trade lanes face disproportionate exposure to the current Middle East disruption due to their routing dependency on affected sea passages.

The company acknowledges material risks including:

• Shipment delays to African markets
• Increased landed costs for customers
• Potential short-term volume declines during the disruption period

Lykis Limited is actively engaging with its African distribution network to manage expectations, explore alternative routing where feasible, and prioritize shipment schedules for time-sensitive product categories.

Financial Performance Impact

The operational disruptions are expected to have discernible adverse impacts on the company's near-term financial performance across multiple dimensions. Rerouting shipments via longer passages is resulting in materially higher freight costs per unit, which may not be immediately recoverable through customer pricing adjustments.

Elevated geopolitical risk in affected corridors has also resulted in higher war-risk insurance premiums and tightened trade finance conditions from banking partners. Extended lead times may cause revenue recognition to shift across reporting periods or result in order cancellations by international buyers.

Company Response and Outlook

The combination of rising logistics costs and existing export contract commitments creates risks of near-term margin compression. Extended shipment cycles are lengthening the cash conversion cycle and may place additional pressure on working capital requirements.

Lykis Limited is maintaining close coordination with relevant trade bodies, shipping industry stakeholders, and its network of international agents and distributors. The company has committed to communicating material developments required under applicable regulations to stock exchanges and shareholders without delay. The Board will continue monitoring the exposure closely and provide updates to shareholders as the situation develops.