Menon bearings Limited has re-appointed Mr. Abhay Golwalkar as Internal Auditor for the financial year 2026-27, effective from April 1, 2026. The company made this disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Appointment Details

The re-appointment was made pursuant to Section 138 of the Companies Act, 2013 read with Rule 13 of the Companies (Accounts) Rules, 2014. Mr. Golwalkar will conduct internal audit of the functions and activities of the company for the entire financial year 2026-27.

Professional Profile

Mr. Abhay M. Golwalkar holds a B.Com (Hons) degree and is a Fellow Chartered Accountant (FCA) with DISA certification. He brings over 32 years of extensive experience in auditing, taxation, and corporate advisory services. His professional expertise spans multiple areas including the design, development, and implementation of internal control systems and Management Information Systems.

Areas of Specialization

Mr. Golwalkar's professional portfolio includes:

• Internal control systems design and implementation
• Management Information System advisory
• Merger, acquisition, and takeover advisory services
• Internal auditing for various listed companies
• Statutory and concurrent auditing for banks
• Revenue audit services
• Tax advisory for corporate and non-corporate entities
• Statutory audit services for NGOs

Regulatory Compliance

The appointment disclosure was made in compliance with Regulation 30 read with Para A of Part A of Schedule III of the SEBI Listing Regulations. The company also referenced SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, in making this announcement.

Company Secretary and Compliance Officer Siddheshwar Kadane signed the disclosure document, ensuring proper regulatory compliance for this corporate governance appointment.

Menon Bearings announced a comprehensive leadership transition on 03.03.2026, marking the end of an era with the resignation of long-serving Managing Director R.D. Dixit and the appointment of new senior executives to guide the company forward. The company disclosed these developments through official regulatory filings to BSE Limited (Scrip Code: 523828) and National Stock Exchange of India Ltd (Symbol: MENONBE) pursuant to Regulation 30 of SEBI Listing Regulations.

Managing Director Resignation

R.D. Dixit resigned from his position as Managing Director effective close of business hours on 03.03.2026, citing advancing age as the primary reason. The 82-year-old executive has served as Managing Director since the company's inception in April 1993, completing an impressive 33-year tenure in the role.

In his resignation letter dated 03.03.2026, Dixit expressed that he found it difficult to cope with the current needs of the organization due to his advanced age. He emphasized that no other material reason existed for his resignation and praised the capability of staff members and employees to run the organization efficiently, noting that the company remains on very strong footings. The Board accepted his resignation with effect from close of business hours of 03.03.2026.

New Managing Director Appointment

The Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, appointed Arun Aradhye as the new Managing Director. Aradhye, who currently serves as Whole Time Director and CFO, will transition to his new role on 04.03.2026.

New Chief Financial Officer

Chandrakant Ghatge has been appointed as the new Chief Financial Officer, effective 04.03.2026, replacing Aradhye who will assume the Managing Director role.

Professional Qualifications and Experience

Arun Aradhye brings extensive qualifications to his new role, holding M.Com. and LL.B. (Special) degrees. He possesses over 50 years of comprehensive experience across multiple domains including banking and finance, production and manufacturing, materials and marketing, corporate image building, human resources, and overall administration.

Chandrakant Ghatge contributes over 35 years of specialized experience in financial management, accounting, and taxation compliance, with demonstrated expertise in financial controls, budgeting, audit coordination, and regulatory compliance.

Regulatory Compliance and Board Meeting Details

The Board meeting that formalized these appointments was held on Tuesday, 03.03.2026, commencing at 11:00 A.M. and concluding at 12:30 P.M. Both appointees have been confirmed as not being debarred from holding their respective offices by virtue of any SEBI order or other regulatory authority, and neither executive is related to any existing Directors of the Company.

The company filed the necessary disclosures with stock exchanges in accordance with BSE Circular No. LIST/COMP/14/2018-19 and NSE Circular No. NSE/CML/2018/24 dated 20.06.2018, ensuring full regulatory compliance throughout the transition process. The disclosures were made pursuant to SEBI Circular HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated 30.01.2026.

The leadership transition ensures continuity in operations while bringing fresh perspective to guide the company's future growth under new management.