Paras Defence & Space Technologies Limited has announced a key leadership appointment, naming Ms. Minal Bhate as the company's new Company Secretary and Compliance Officer. The appointment, effective April 06, 2026, was approved by the Board of Directors following recommendations from the Nomination and Remuneration Committee.

Key Appointment Details

The company has disclosed the appointment under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Ms. Bhate has been designated as Key Managerial Personnel in her new role.

Professional Background and Qualifications

Ms. Bhate brings substantial expertise to her new role at Paras Defence and Space Technologies. She is a Member of the Institute of Company Secretaries of India (ICSI) and holds dual bachelor's degrees in Law and Commerce. Her professional experience spans over 18 years in Corporate Secretarial, Legal and Compliance functions across diverse industries.

Her career includes senior-level positions at several prominent organizations:

• Hinduja Group Limited
• IL&FS Investment Management Limited
• The Phoenix Mills Limited

Updated Key Managerial Personnel Structure

Following Ms. Bhate's appointment, the company has updated its Key Managerial Personnel list for regulatory compliance and disclosure purposes. The current leadership structure includes:

Regulatory Compliance

The appointment fulfills the company's regulatory requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made in accordance with SEBI Circular SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The company has informed both BSE Limited and National Stock Exchange of India Limited about this key appointment, ensuring full transparency with stakeholders and regulatory authorities.

Paras Defence & Space Technologies has completed the divestment of its entire 58.02% equity stake in subsidiary Ayatti Innovative Private Limited for Rs 6.99 crore. The transaction was executed on March 30, 2026, resulting in Ayatti ceasing to be a subsidiary of the defence company.

Transaction Overview

The divestment involved the sale of 15,20,000 equity shares of face value Rs 10 each to Unifab Ultra Technologies LLP. The transaction was completed as per regulatory requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Impact Assessment

Ayatti Innovative's contribution to Paras Defence's consolidated financials during FY 2024-25 was minimal, representing only 0.32% of turnover. The subsidiary reported a negative net worth, making the divestment strategically beneficial.

Regulatory Compliance

The transaction complies with all regulatory requirements and does not constitute a related party transaction. The buyer, Unifab Ultra Technologies LLP, is not associated with Paras Defence's promoter group or group companies. The company has fulfilled its disclosure obligations under Regulation 30 of SEBI LODR Regulations.

Strategic Implications

This divestment represents a strategic portfolio optimization move, allowing Paras Defence to exit a loss-making subsidiary while generating Rs 6.99 crore in proceeds. The transaction enables the company to focus resources on its core defence and space technology operations while eliminating the negative impact of Ayatti's poor financial performance on consolidated results.