Mohite Industries has disclosed substantial defaults on loan repayments, revealing financial stress in its operations for the quarter ended March 31, 2026. The company submitted its mandatory disclosure to BSE Limited on April 7, 2026, as required under SEBI regulations for listed entities.

Financial Indebtedness Overview

The company's financial disclosure presents a concerning picture of its debt obligations and repayment capabilities. The comprehensive breakdown shows the extent of defaults across different categories of financial instruments.

Loan Defaults Analysis

The disclosure reveals that Mohite Industries has defaulted on ₹2905.79 crore out of its total outstanding loan amount of ₹7615.15 crore from banks and financial institutions. This represents a significant portion of the company's total borrowings, indicating substantial financial difficulties in meeting its debt obligations.

Debt Securities Position

In contrast to its bank loan defaults, the company reported no outstanding amounts or defaults related to unlisted debt securities, including Non-Convertible Debentures (NCDs) and Non-Convertible Redeemable Preference Shares (NCRPS). Both categories showed nil amounts as on March 31, 2026.

Regulatory Compliance

The disclosure was made in accordance with SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2019/140 dated November 21, 2019, which mandates listed companies to disclose defaults on payment of interest and repayment of principal amounts on loans from banks, financial institutions, and unlisted debt securities on a quarterly basis.

Management Certification

The disclosure was digitally signed and certified by Shivaji Ramchandra Mohite, Managing Director of the company (DIN: 00425441), ensuring compliance with corporate governance requirements and authenticity of the submitted information.

Mohite Industries Limited has announced significant changes to its Board of Directors composition, with one Independent Director resigning and a new appointment being made on March 9, 2026.

Director Resignation Details

Annasaheb Dhondiba More (DIN-08861721) has tendered his resignation as Independent Director of the company with effect from the close of business hours on March 9, 2026. The resignation was submitted due to personal and unavoidable circumstances that require his immediate attention and time.

In his resignation letter, More confirmed that there are no disagreements with the Board of Directors or management on any matter relating to the company's operations, policies, or practices. He expressed gratitude to the Board and management for their cooperation and support during his tenure.

New Director Appointment

On the recommendation of the Nomination and Remuneration Committee, the Board of Directors approved the appointment of Sangramsinh Subhashrao Nimbalkar (DIN: 00508548) as Additional Independent Director. The appointment is effective from March 9, 2026, for a period of five consecutive years, subject to shareholder approval.

New Director's Profile

Sangramsinh Subhashrao Nimbalkar brings extensive experience to the Board. Key aspects of his background include:

• Education: Diploma in Civil Engineering
• Experience: Over 30 years as a successful businessman in government and semi-government industrial construction work
• Specialization: Sugar factory projects and building construction activities
• Independence: Not related to any Directors or Key Managerial Personnel of the company

Regulatory Compliance

The company has confirmed compliance with SEBI regulations, stating that Nimbalkar has not been debarred from holding the office of Director by virtue of any order issued by SEBI or other authorities. The disclosure has been made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The intimation and related disclosures will be made available on the company's website at mohite.com, ensuring transparency and regulatory compliance in the Board transition process.