New Light Industries Limited has regularized the appointment of Saurabh Agrawal as its Managing Director for a one-year term starting from March 23, 2026.

The Board of Directors approved the regularization during its meeting held on September 7, 2026. Agrawal was initially appointed as an Additional Director on March 23, 2026, under Section 161 of the Companies Act, 2013. The board now formalized his role to hold office until March 22, 2027.

Key Board Approvals

In addition to the leadership regularization, the board considered several other governance matters:

• Approved the Director’s Report and Notice of Annual General Meeting (AGM) for FY26.
• Finalized the calendar of events and resolutions for the upcoming AGM.
• Appointed Ms. Mayuri Sinha as the Scrutinizer for the remote e-voting process.
• Appointed M/s. Kapish Jain & Associates as Statutory Auditors.

Auditor Appointment Details

The company appointed M/s. Kapish Jain & Associates, Chartered Accountants (FRN: 022743N), as Statutory Auditors for a term of five consecutive years. The term begins from the conclusion of the ensuing AGM until the conclusion of the 36th AGM. This appointment is subject to shareholder approval at the AGM, pursuant to Section 139 of the Companies Act, 2013.

Kapish Jain & Associates is a professional services firm with over 17 years of experience, headquartered in New Delhi. The firm provides services including Audit & Assurance, Taxation, and Corporate Compliance.

Leadership Profile

Saurabh Agrawal brings over two decades of experience across fintech, e-commerce, and telecom sectors. His background includes leadership roles such as CTO and Head of Engineering, with expertise in digital payments, AI-driven products, and enterprise technology architecture.

Promoter Manoj Agrawal and his persons acting in concert (PACs) sold a combined 6.36% stake in New Light Industries through open market transactions between August 28, 2026, and August 31, 2026.

The disposal of 55,66,395 shares reduced the promoter group’s aggregate holding from 19.13% to 12.77% of the company’s total paid-up share capital. The transaction was disclosed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Shareholding Breakdown

The sale involved significant reductions across all promoter entities. Manoj Agrawal individually reduced his holding by 24,79,311 shares, dropping his stake from 3.14% to 0.31%. His HUF entity sold 16,27,727 shares, while Mrs. Shikha Agrawal disposed of 14,59,357 shares.

What the Numbers Show

The data reveals a concentrated exit by the individual promoter, Manoj Agrawal, who retained only 0.31% of the equity post-transaction. In contrast, the HUF and family member entities maintained substantial stakes, collectively holding 12.46% of the company. This divergence suggests a strategic shift in ownership structure rather than a complete promoter exit, with the HUF entity now representing the largest single block within the promoter group at 7.15%.

The total diluted share capital remained unchanged at ₹8,76,00,150, comprising 8,76,00,150 equity shares of ₹1 each. No encumbrances or pledges were reported on the shares prior to or following the disposal.