Praj Industries Limited has announced a key leadership appointment, with the Board of Directors approving the appointment of Mr. Sachin Raole as Joint Managing Director & Chief Financial Officer. The decision was made at a board meeting held on April 28, 2026, based on recommendations from the Nomination and Remuneration Committee.

Postal Ballot Approval Process

The Board of Directors has approved a postal ballot notice to obtain shareholder approval for the appointment. The company will file the postal ballot notice with the stock exchanges in due course. This formal communication was sent to both the National Stock Exchange of India Ltd. and BSE Ltd. on April 28, 2026.

Appointment Details

The appointment is structured as a five-year term and is subject to shareholder approval through the postal ballot process. Key details of the appointment include:

Professional Background

Mr. Sachin Raole brings extensive experience to his new role, with a strong background in finance and accounting. His professional credentials include:

• Qualifications: Cost Accountant and Chartered Accountant
• Experience: 31 years in varied fields of finance and accounts
• Specializations: Divestment, mergers & acquisitions, financial restructuring, treasury, accounts and taxation
• Industry Experience: Manufacturing, project, financial services and pharmaceutical sectors
• Additional Expertise: Human Resources, materials, IT, legal & secretarial functions

Corporate Governance Compliance

The appointment follows proper corporate governance procedures under SEBI regulations. The company has made the required disclosures pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board meeting commenced at 11.30 a.m. and concluded at 12.10 p.m. on April 28, 2026. The postal ballot notice was signed by Company Secretary & Compliance Officer Anant Bavare.

Next Steps

The appointment is contingent upon approval from the company's shareholders through the postal ballot process. Once approved, Mr. Raole will be re-designated as Joint Managing Director & Chief Financial Officer with effect from April 30, 2026. The company has confirmed that there are no relationships between directors in connection with this appointment.

Praj Industries has announced a significant development in the biotechnology sector with its subsidiary Praj Matrix launching an advanced precision fermentation laboratory. This strategic initiative is designed to support next-generation industrial biotechnology solutions and aligns with India's ambitious BioE3 plan.

Strategic Laboratory Launch

The establishment of this advanced precision fermentation laboratory marks a crucial step in Praj Matrix's commitment to biotechnology innovation. The facility is specifically designed to support the development of next-generation industrial biotech solutions, positioning the company at the forefront of India's biotechnology advancement.

Supporting India's BioE3 Framework

The new laboratory directly supports India's BioE3 plan, which encompasses biotechnology, bio-manufacturing, and bio-economy development. This alignment demonstrates Praj Industries' strategic positioning within the country's broader bioeconomy objectives and its commitment to contributing to national biotechnology advancement.

Biotechnology Innovation Focus

The precision fermentation laboratory represents a significant investment in cutting-edge biotechnology infrastructure. This facility will enable the development of advanced fermentation processes and support industrial biotechnology applications, strengthening the company's capabilities in the rapidly evolving biotech sector.

This development underscores Praj Industries' continued expansion into high-technology sectors and its strategic focus on biotechnology solutions that align with national policy frameworks and economic development goals.