Shanthi Gears Limited has appointed Mr. Sukanta Kumar Panigrahi as its Interim Chief Financial Officer with immediate effect to ensure continuity in its financial leadership after the previously appointed CFO declined to join. The decision was taken by the Board of Directors during a meeting held on July 13, 2026. Panigrahi will hold the office until a regular Chief Financial Officer is identified and takes charge.

The company informed the exchanges that Mr. Sudhir R, who was initially appointed as CFO, expressed his inability to join the organization due to personal reasons. Consequently, the Board moved to appoint an interim head to manage financial operations. The appointment follows the disclosure requirements mandated by Regulation 30 of the SEBI Listing Regulations.

Mr. Sukanta Kumar Panigrahi is a qualified Chartered Accountant and a Company Secretary with 18 years of experience in finance, treasury, fund raising, budgeting, and business process improvement. He is currently associated with Tube Investments of India Limited, the holding company. His previous professional stints include roles at River Mobility Private Limited, Ford Motors Private Limited, and BNY Mellon.

Authorized Key Managerial Personnel

Pursuant to Regulation 30(5) of the SEBI Listing Regulations, Shanthi Gears has authorized specific Key Managerial Personnel to determine the materiality of events and make disclosures to stock exchanges.

Profile of the Appointee

The detailed disclosure regarding the appointment highlights Panigrahi's extensive background in financial management. His tenure as Interim CFO is intended to bridge the gap until a permanent successor is found.

Shanthi Gears Limited has fixed Friday, July 17, 2026, as the record date to determine shareholder eligibility for the final dividend recommended for the financial year ended March 31, 2026. The total dividend for FY26 is ₹5 per share, comprising a final payout of ₹2 and an interim dividend of ₹3 already paid. The final dividend will be paid on or before August 27, 2026, subject to approval at the upcoming Annual General Meeting.

The company has scheduled its 53rd Annual General Meeting (AGM) for Wednesday, July 29, 2026, at 4:30 p.m. IST via video conferencing. The meeting will transact ordinary business, including the adoption of audited financial statements for FY26 and the re-appointment of Mr. Mukesh Ahuja as Director, who retires by rotation. Shareholders will also vote on the appointment of Mr. K Ilango as a Non-Executive Independent Director for a term of five years.

The board has sought approval for a commission of ₹1,00,00,000 to Mr. M A M Arunachalam, Non-Executive Chairman, for FY26. The company has also proposed a commission structure for Non-Executive Directors, excluding those in whole-time employment, not exceeding one percent of net profits for each financial year from FY26 to FY30. Additionally, the ratification of remuneration payable to Cost Auditor Mr. B Venkateswar, amounting to ₹80,000 plus applicable taxes for FY27, is on the agenda.

Remote e-voting will commence on July 26, 2026, at 9:00 a.m. IST and conclude on July 28, 2026, at 5:00 p.m. IST. The cut-off date to determine shareholder eligibility for voting and dividend entitlement is July 22, 2026. The facility for appointing proxies will not be available as the meeting is held via video conferencing.

Key AGM Agenda