Rhetan TMT accepts Deepti Gavali's resignation as independent director

Rhetan TMT Limited has accepted the resignation of Mrs. Deepti Ghanshyam Gavali as an Independent Director, effective August 07, 2026. The company disclosed the change in board composition to the Bombay Stock Exchange and National Stock Exchange on the same day, citing personal reasons for her departure. This leadership change reduces the number of independent directors on the Board, potentially impacting committee compositions until a successor is appointed.

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Shalin Ashok Shah, Managing Director and DIN holder 00297447, signed the intimation letter confirming receipt of the resignation dated August 07, 2026.

Resignation Details

Mrs. Deepti Ghanshyam Gavali (DIN: 10272798) tendered her resignation from the office of Independent Director due to personal reasons. In her resignation letter addressed to the Board of Directors, she requested that all formalities regarding her exit be completed, including filings with the Ministry of Corporate Affairs.

Particulars	Details
Resigning Director	Deepti Ghanshyam Gavali
Designation	Independent Director
DIN	10272798
Effective Date	August 07, 2026
Reason	Personal reasons
Other Listed Entities	NIL

Regulatory Compliance

The company confirmed that there are no other material reasons for the resignation beyond those stated in the letter. As per Clause 7B of Para A of Part A of Schedule III of the Listing Regulations, Mrs. Gavali provided a confirmation that no additional material factors influenced her decision to step down. The resignation letter was enclosed as Annexure II to the regulatory filing.

Board Composition Impact

The departure of an independent director requires the company to ensure continued compliance with SEBI’s listing requirements regarding the proportion of independent directors on the Board. While the source document does not specify the current total strength of the Board or the timeline for appointing a replacement, such vacancies are typically filled through nomination and remuneration committee recommendations followed by shareholder approval or board appointment depending on the urgency and existing composition.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.55%	+10.24%	+22.65%	+29.60%	+56.69%	+56.69%

Rhetan TMT has completed the testing and commissioning of its 1 MW (AC) Captive Ground-Mounted Solar Power Project, achieving operational readiness for commercial power generation. The disclosure, filed on August 6, 2026, marks the culmination of the company’s renewable energy initiative, which progressed through statutory approvals, infrastructure development, installation, and final commissioning stages. Commercial power generation is expected to commence shortly, pending the completion of any remaining operational formalities.

The move addresses a critical component of the company's expense structure, with power costs representing approximately 20% of Rhetan TMT’s overall cost base. By transitioning to a captive solar source, the company aims to secure a stable and cost-efficient energy supply. Management anticipates that this shift will positively impact operational economics, enhance efficiency, and improve cost competitiveness while reinforcing the company’s commitment to sustainable manufacturing practices.

Project Details and Timeline

The project follows an earlier communication dated July 27, 2026, regarding the ongoing development. The completion of commissioning activities signifies that the infrastructure is fully prepared for commercial operation. The company has confirmed that all implementation stages have been successfully executed.

Parameter	Detail
Project Capacity	1 MW (AC)
Type	Captive Ground-Mounted Solar
Status	Testing and Commissioning Completed
Next Step	Commencement of Commercial Generation
Cost Impact Target	~20% of Overall Cost Base

Regulatory Disclosure

The announcement was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was submitted to the Listing Departments of both the BSE Limited and the National Stock Exchange of India Limited. Shalin A Shah, Managing Director of Rhetan TMT Limited, signed the communication, confirming the operational readiness of the asset. The company stated it will keep the stock exchanges informed of any further material developments regarding the commencement of power generation.