Nexxus petro industries Limited has announced the resignation of its Chief Financial Officer Mr. Gaurav Narendra Mehta, effective from the close of business hours on March 31, 2026. The company informed BSE Limited about this key managerial personnel change in compliance with SEBI regulations.

Resignation Details

Mr. Gaurav Narendra Mehta submitted his resignation from the position of Chief Financial Officer and Key Managerial Personnel to pursue career advancement and relocation opportunities. His departure marks the end of his tenure as CFO, during which he made significant contributions to the company's growth.

Regulatory Compliance

The resignation was communicated to BSE Limited under Regulation 30 and Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Following his departure, Mr. Mehta will cease to be the Key Managerial Personnel authorized for determining materiality of events or information and making disclosures to stock exchanges.

The company has provided all required details as per SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, including comprehensive documentation of the resignation process.

Transition Process

In his resignation letter addressed to the Board of Directors, Mr. Mehta expressed gratitude to the management and colleagues for their support during his tenure. He confirmed his commitment to extend necessary support for a smooth transition and handover of responsibilities.

The company secretary and compliance officer, Zehra Murtaza Ghadiali, signed the regulatory filing on March 31, 2026, ensuring compliance with all applicable provisions of the Companies Act, 2013 and SEBI regulations. The resignation documentation includes detailed reasons and confirms no other material reasons exist beyond those stated.

Nexxus Petro Industries Limited has completed the sale of a land parcel in Rajasthan for ₹17.17 crore, marking a strategic move to monetize non-core assets. The Board of Directors approved this transaction on March 30, 2026, during a meeting that commenced at 10:00 a.m. and concluded at 12:30 p.m.

Transaction Details

The company has sold a land parcel measuring 3.99 acres situated at Khasra No. 555/36 Village Gajangadh, Kharda Pali Rajasthan. The agreement for sale has been executed and registered on March 30, 2026 with the Department of the Sub-Registrar, Land Revenue Records.

Buyer Information

The land has been sold to two individual buyers who are not related to the company's promoter group. The buyers are Mr. Deepak Mahajan, son of Mr. Surendra Mahajan, aged 41 years, residing at 18-E-132, Chopasni Housing Board, Main Road, Jodhpur, Rajasthan, and Mr. Abhishek Agnihotri, son of Mr. Krishna Kant Agnihotri, aged 41 years, residing at Plot No. 25, UIT Quarter, Shambhuwata Ki Dhani, Pal Road, Jodhpur, Rajasthan. This ensures the transaction does not fall under related party transactions.

Financial Impact and Strategic Rationale

The sale represents a strategic decision to dispose of a non-operational asset. During the last financial year, the company's total turnover was ₹305.04 crore, with the undertaking contributing ₹51.75 crore, constituting approximately 16.97% of total turnover. The company's total net worth stands at ₹32.26 crore as per the latest audited financial statements.

Regulatory Compliance

The transaction has been structured in compliance with SEBI regulations under Regulation 30 of SEBI LODR and does not constitute substantially the whole of the undertaking under Section 180(1)(a) of the Companies Act, 2013. The sale is not expected to impact the company's operations, as the undertaking was used during financial year 2024-25 but is no longer part of ongoing business operations.

Key compliance aspects include:

• Full disclosure under Regulation 30 of SEBI LODR
• No related party transaction implications
• No impact on existing operations
• Proper authorization and execution through designated representative
• Registration with Sub-Registrar as per applicable laws

Strategic Outlook

The company has positioned this sale as a value-unlocking exercise for a non-core, non-performing asset. The undertaking is currently not operational and is not envisaged to be utilized in the present or foreseeable future. The transaction completion occurred on March 30, 2026, upon execution and registration of the Sale Deed with the office of the Sub-Registrar in accordance with applicable laws. The sale allows the company to monetize the asset without any material impact on its existing operations.