Mafatlal Industries commissioned its 4 MWp ground-mounted solar photovoltaic (PV) power project at its manufacturing facility in Nadiad, Gujarat, on July 19, 2026. Developed at an investment of approximately ₹11 crores, the plant is expected to generate approximately 66 lakh kWh of net usable electricity annually for captive consumption. This initiative is expected to improve cost competitiveness by reducing energy costs, which remain a key component of manufacturing expenses, while reinforcing the company's commitment to green energy initiatives and reducing its carbon footprint.

Project Details

The following table summarises the key parameters of the solar power project:

The project was previously intimated to the exchange on December 11, 2025, under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Operational Benefits

The commencement of generation is anticipated to yield significant operational advantages:

• Cost Reduction: Lowering energy costs, a major expense in manufacturing.
• Sustainability: Contributing to green energy generation and reducing the carbon footprint.

The intimation was submitted to BSE Limited on July 20, 2026, by Amish Shah, Company Secretary.

Mafatlal Industries Limited has scheduled its 112th Annual General Meeting for August 7, 2026, to seek shareholder approval for the re-appointment of its top executives and other key resolutions. The meeting will be conducted through Video Conferencing and Other Audio-Visual Means (OAVM). Shareholders will vote on the re-appointment of Mr. Priyavrata H. Mafatlal as Managing Director and Chief Executive Officer (MD & CEO) for a period of three years from June 1, 2026, to May 31, 2029, and Mr. Hrishikesh A. Mafatlal as Executive Chairman for two years from November 1, 2026, to October 31, 2028.

The Board of Directors, based on the recommendations of the Nomination and Remuneration Committee, approved these appointments at their meeting held on May 5, 2026. The remuneration proposed for Mr. Priyavrata H. Mafatlal includes a basic salary not exceeding ₹ 2.50 Crores per annum, allowances not exceeding ₹ 1.25 Crores per annum, and perquisites not exceeding ₹ 1.25 Crores per annum. He is also eligible for a performance-linked incentive of up to ₹ 3.00 Crores per annum. For Mr. Hrishikesh A. Mafatlal, the proposed remuneration includes a basic salary not exceeding ₹ 1.08 Crores per annum and allowances not exceeding ₹ 0.48 Crores per annum.

Financial Performance and Remuneration

The company reported a total turnover and other operational income of ₹ 3,902.15 crore for the financial year ended March 31, 2026, compared to ₹ 2,845.30 crore in the previous year. The EBITDA (excluding exceptional items) stood at ₹ 124.85 crore, while the net profit after tax was ₹ 91.07 crore. Despite remaining profitable, the company noted an inadequacy of profits as computed under Section 198 of the Companies Act, 2013, necessitating shareholder approval for remuneration that may exceed statutory limits.

Special Business Resolutions

Apart from the re-appointments, the AGM will transact special business including the ratification of the Cost Auditor's remuneration. M/s. B. Desai & Co., Cost Auditors, are proposed to be ratified for the financial year 2026-27 with a remuneration of ₹ 4,75,000 plus applicable taxes and reimbursement of out-of-pocket expenses.

The company also seeks approval for the payment of commission to Non-Executive Independent Directors for the financial year 2025-26. The aggregate commission proposed is not exceeding ₹ 96,00,000. The individual commission proposed for six directors is ₹ 15,00,000 each, while two directors who ceased to hold office during the year are proposed to be paid ₹ 3,00,000 each.

E-Voting and Meeting Details

The remote e-voting facility will be available from August 4, 2026, at 9.00 a.m. (IST) to August 6, 2026, at 5.00 p.m. (IST). The company has fixed July 31, 2026, as the cut-off date for determining the eligibility of members to vote and receive dividends. The dividend, if declared, is scheduled to be paid on or before August 27, 2026.