Prime Industries board of directors approved significant leadership changes during its meeting on August 22, 2026. The company accepted the resignation of Whole Time Director Rama Nand Gupta and approved the redesignation of Managing Director Rajinder Kumar Singhania to Non-Executive Director.

Both changes took effect at the closing of business hours on August 22, 2026. The board meeting commenced at 11:00 am and concluded at 11:30 am. The disclosures were made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation of Whole Time Director

Rama Nand Gupta tendered his resignation from the position of Whole Time Director due to other professional commitments. In his resignation letter dated August 21, 2026, Gupta confirmed that there were no material matters requiring attention by the board in connection with his departure.

The board noted his resignation effective from the closing hours of August 22, 2026. Gupta expressed gratitude to the board, management, and employees for their support during his tenure.

Redesignation of Managing Director

Rajinder Kumar Singhania requested a change in his designation from Managing Director to Non-Executive Director. The move is attributed to personal commitments and a realignment of strategic responsibilities within the company.

Singhania stated in his letter dated August 21, 2026, that he would assist in the smooth transition of executive responsibilities to the management team. He will continue to serve the company in a non-executive capacity, liable to retire by rotation as applicable under the Companies Act, 2013.

Prime Industries disclosed on August 12, 2026, that its statutory auditor, M/s. Bhushan Aggarwal & Co., has tendered its resignation effective August 11, 2026. The firm attributed the departure solely to pre-occupation with other professional assignments and time constraints, explicitly stating there are no other material reasons or concerns requiring disclosure to management or shareholders.

The resignation was submitted pursuant to Section 140(2) of the Companies Act, 2013, and disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing also references SEBI Circular No. CIR/CFD/CMD1/114/2019 dated October 18, 2019, and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

Auditor Details and Tenure

M/s. Bhushan Aggarwal & Co., Chartered Accountants (FRN: 005362N), was appointed as the statutory auditor on September 30, 2024. The term was scheduled to expire on September 30, 2029. Prior to resignation, the firm submitted a limited review report for the unaudited financial results for the quarter ended June 30, 2026, on August 10, 2026.

The firm confirmed that it did not approach the Audit Committee or Board of Directors regarding any concerns prior to resignation, nor were there any instances where information requested by the auditor was not provided by management. Consequently, issues related to management-imposed limitations or lack of sufficient appropriate audit evidence were marked as not applicable.

Next Steps

The Board of Directors is required to fill the resulting casual vacancy in accordance with the law. Diksha Tiwari, Company Secretary & Compliance Officer, signed the disclosure letter submitted to BSE Limited.