MM Forgings has completed a significant leadership transition with R. Raghunathan officially taking over as Chief Financial Officer and Key Managerial Personnel on April 1, 2026. The appointment follows the resignation of R. Venkatakrishnan, who served as CFO since April 1, 2014, and continued for four years post his retirement in May 2022.

Board Meeting and Regulatory Compliance

The board meeting held on April 1, 2026, formalized both the resignation of the outgoing CFO and the appointment of his successor. The company filed the necessary intimation under Regulation 30 of SEBI (LODR) Regulations, 2015, with both NSE and BSE exchanges. R. Venkatakrishnan cited age, health concerns, and desire to spend more time with family as reasons for his resignation, effective April 1, 2026.

CFO Transition Details

The transition was recommended by the Nomination and Remuneration Committee and approved by the board. R. Venkatakrishnan had attained superannuation during May 2022 but continued serving as CFO for approximately four years post-retirement, considering his rich experience and valuable contributions to the company. In his formal resignation letter, Venkatakrishnan expressed gratitude for the opportunity to serve and specifically mentioned the identification of R. Raghunathan as his meritorious successor.

New CFO Profile and Expertise

R. Raghunathan brings over 30 years of rich and diverse experience across manufacturing, engineering, healthcare, and service industries, including exposure to international operations. As a qualified Chartered Accountant and Cost Accountant, he possesses strong expertise in financial planning and analysis, treasury management, capital structuring, budgeting, and corporate governance.

His professional background includes successful leadership of several strategic initiatives including IPOs, mergers and acquisitions, divestments, and business restructuring. Raghunathan has extensive experience in handling large-scale debt and fund management exceeding ₹1,200.00 crore.

Previous Leadership Positions

Raghunathan has held senior leadership positions across multiple organizations, serving as Chief Financial Officer at Chettinad Cement Corporation Limited and Wheels India Limited. He also served as Group CFO at Archean Chemical Industries Limited and Trivitron Healthcare Private Limited, where he played pivotal roles in IPO execution, investor relations, and capital raising activities.

Board Confidence and Future Outlook

The Nomination and Remuneration Committee and the Board expressed confidence that R. Raghunathan possesses the requisite qualifications, experience, and competence to discharge CFO responsibilities effectively. Known for his analytical mindset, strategic thinking, and integrity, he brings significant value in driving financial performance and supporting business decision-making at the highest level. The board placed on record its deep appreciation for R. Venkatakrishnan's valuable services and significant contributions to the company throughout his tenure.

MM Forgings Limited has issued a postal ballot notice dated 30 March 2026, seeking shareholder consent for significant capital structure changes and fund raising initiatives. The company has dispatched the notice through electronic mode to shareholders whose email addresses are registered with Cameo Corporate Services Limited and depositories.

Capital Structure Enhancement

The company proposes to increase its authorized share capital substantially to support future growth opportunities. The board has recommended increasing the authorized capital from the current level to accommodate potential securities issuance.

This increase involves creation of 1,00,00,000 additional equity shares of ₹10 each, requiring consequent alteration of Clause V of the Memorandum of Association.

Fund Raising Initiative

The company seeks approval to raise capital through various permissible modes for strategic growth opportunities. The board has identified attractive growth prospects, both organic and inorganic, requiring augmented capital base for swift execution.

The proposed fund raising will enable the company to meet capital expenditure requirements for manufacturing facility expansion, reduce existing indebtedness, and support general corporate purposes. General corporate purposes shall not exceed 25% of the total funds raised through qualified institutions placement.

Regulatory Compliance and Advertisement

Pursuant to Regulation 30 of SEBI Listing Regulation, 2015, MM Forgings Limited published an advertisement in newspapers Trinity Mirror and Makkal Kural in connection with the postal ballot notice. The company informed stock exchanges BSE Limited and National Stock Exchange of India Limited about the advertisement publication.

Voting Process and Timeline

The company has appointed Shri. M. Damodaran, Practicing Company Secretary and Managing Partner of M Damodaran & Associates LLP, as the scrutinizer for conducting the postal ballot process. Central Depository Services (India) Limited (CDSL) will facilitate electronic voting.

Board Recommendations

The postal ballot process complies with Section 110 of the Companies Act, 2013, and applicable rules. The notice follows SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and various MCA circulars including General Circular No. 09/2023 dated September 25, 2023, and subsequent circulars.

Shareholders can access the postal ballot notice on the company's website at www.mmforgings.com and cast their votes through e-voting facility or postal ballot process. The company has made arrangements for shareholders to register email addresses for future communications in electronic form.

The board of directors, through resolution dated 25 March 2026, has recommended both special resolutions for shareholder approval. The directors believe these measures will strengthen the company's balance sheet, support growth initiatives, and improve financial flexibility for capitalizing on market opportunities.