Paradeep Phosphates has successfully commissioned its 300 tonnes per day (TPD) sulphuric acid plant at the Mangalore manufacturing unit with effect from March 31, 2026. The company disclosed this development through a regulatory filing under Regulation 30 of SEBI (LODR) Regulations, 2015, marking the completion of a significant capacity expansion project. The Mangalore expansions are expected to contribute incremental EBITDA of approximately ₹350 crore in FY27.

Plant Commissioning and Capacity Details

The newly commissioned sulphuric acid plant has achieved operational status with commercial production commencing from March 31, 2026. This expansion significantly enhances the company's manufacturing capabilities at the Mangalore facility.

Financial Impact and EBITDA Projections

The Mangalore expansions, including the commissioned sulphuric acid plant, are projected to deliver substantial financial benefits. The company expects these expansions to contribute incremental EBITDA of approximately ₹350 crore in FY27, representing a significant boost to the company's profitability.

Strategic Benefits and Environmental Impact

The commissioning of the sulphuric acid plant will enhance the company's captive sulphuric acid production, ensuring a reliable supply of key raw material for fertilizer manufacturing. This development reduces import dependence and improves operational efficiency while enabling effective utilization of waste heat.

The project is expected to generate around 1,05,000 tonnes of high pressure steam from non-fossil fuel energy per annum from process waste heat. This will replace equivalent quantity of steam generation from fossil fuel, achieving a sustainable milestone in reducing carbon footprint by reducing 19,000 tonnes of CO2 emission annually.

Operational Impact

With the existing capacity utilization at 100.00%, the addition of 300 TPD capacity represents a four-fold increase in total sulphuric acid production capability. Sulphuric acid serves as a critical raw material in fertilizer manufacturing, particularly for phosphatic fertilizers, making this commissioning strategically important for the company's operations and cost efficiency improvements.

Paradeep Phosphates Limited has issued a comprehensive postal ballot notice to its members, seeking approval for key management appointments through remote e-voting process. The company has engaged MUFG Intime India Private Limited to facilitate the electronic voting mechanism for these critical resolutions.

Regulatory Compliance and Advertisement Publication

Following the postal ballot dispatch on March 27, 2026, the company published newspaper advertisements in Business Line (all editions) and Samaja on March 28, 2026. This publication was undertaken in compliance with Regulations 30 and 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Section 108 of the Companies Act, 2013.

E-Voting Schedule and Process

The remote e-voting process will commence on Saturday, March 28, 2026 at 10.00 A.M. (IST) and conclude on Sunday, April 26, 2026 at 5.00 P.M. (IST). The cut-off date for determining voting eligibility has been set as March 20, 2026. Mr. Shivaram Bhat (Membership No. FCS 10454, COP No. 7853), Practising Company Secretary, has been appointed as the Scrutinizer for conducting the postal ballot process.

Re-appointment of Managing Director

The first resolution seeks re-appointment of Mr. N Suresh Krishnan (DIN: 00021965) as Managing Director for a period of three years from February 16, 2026 to February 15, 2029. Mr. Krishnan, an alumnus of BITS Pilani with over three decades of experience in the fertilizer sector, has been serving as the immediate past Chairman of Fertilizer Association of India.

Remuneration Structure for Managing Director

The remuneration package includes performance-linked variable pay, insurance coverage under Group Personal Accident, Term Life, and Health Insurance schemes, along with standard benefits like Provident Fund, Gratuity, and leave encashment as per company rules.

Appointment of Joint Managing Director

The second resolution proposes appointment of Mr. K K Rajeev Nambiar (DIN: 07313541) as Joint Managing Director for three years from April 01, 2026 to March 31, 2029. Mr. Nambiar, a mechanical engineer from National Institute of Technology Surathkal, joined the company as President & Chief Operating Officer on January 02, 2024.

Remuneration Structure for Joint Managing Director

Mr. Nambiar brings over 31 years of corporate experience, having previously served as MD & CEO of Shree Digvijay Cement, where he successfully managed the turnaround of a 1.20 MTPA integrated cement business.

Independent Director Appointment

The third resolution seeks appointment of Mr. Marco Philippus Ardeshir Wadia (DIN: 00244357) as Non-Executive Independent Director for five years from March 18, 2026 to March 17, 2031. The 70-year-old distinguished corporate lawyer holds Bachelor of Arts (Hons.) and Bachelor of Laws (LL.B.) degrees from University of Mumbai and has over three decades of experience in corporate and commercial laws.

Key Highlights of Independent Director Appointment

• Experience: Over 30 years in legal profession specializing in corporate matters
• Current Role: Partner at Crawford Bayley & Co.
• Age Consideration: Special resolution includes continuation after attaining 75 years
• Independence: Meets criteria under Section 149 of Companies Act, 2013

Company Performance Context

The appointments come at a time when Paradeep Phosphates Limited operates as one of India's largest phosphatic fertilizer companies with an annual capacity of 3.9 million MT across facilities in Paradeep (Odisha), Goa, Mangalore, and Mahad. The company serves over 12 million farmers through 100,000+ retailers across 18 states under the brands Jai Kisaan Navratna and Jai Kisaan Mangala.

Compliance and Regulatory Framework

The postal ballot process complies with provisions of Sections 108, 110 of the Companies Act, 2013, and various MCA circulars issued between 2020-2025. The notice is being sent electronically to members who have registered email addresses with the company or depositories, in line with regulatory guidelines for remote e-voting processes.

Members can access the complete postal ballot notice on the company's website at www.paradeephosphates.com and cast their votes through the InstaVote platform provided by MUFG Intime India Private Limited.