Shivagrico Implements Ltd has issued a clarification to BSE Limited regarding recent share price movements, responding to an inquiry from the stock exchange. The company filed its response under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 on March 11, 2026.

BSE Inquiry and Company Response

The clarification came in response to BSE's email dated March 9, 2026, which sought explanation for significant movement in the company's share price. Shivagrico Implements confirmed its compliance with SEBI (LODR) Regulations, 2015 and stated that it has been promptly informing the stock exchange about all events and information that may impact company operations or performance.

Compliance Confirmation

The company explicitly confirmed that it has not withheld any information or events that could impact the price behavior of its scrip, which would be required for disclosure under Regulation 30. Shivagrico Implements emphasized its commitment to disclosing all price-sensitive information as and when required.

Market-Driven Price Movement

Shivagrico Implements attributed the share price movement to market conditions, stating that the movement is "purely due to market conditions and apparently market driven." The company clarified that it has neither control over such market movements nor knowledge of the specific reasons behind them.

Company Background

Shivagrico Implements Ltd operates as a manufacturer of rolled sections, forgings, hand tools, and agricultural implements. The company maintains its registered office in Mumbai and operates a factory in Falna, Rajasthan. The clarification was signed by Jinal Joshi, Company Secretary & Compliance Officer, confirming the company's adherence to regulatory disclosure requirements.

Shivagrico Implements Ltd. announced significant board changes following its meeting held on February 26, 2026, implementing new director appointments and accepting a resignation as part of its governance restructuring.

Board Meeting Outcomes

The board meeting, conducted from 5:00 p.m. to 5:50 p.m. on February 26, 2026, addressed multiple governance matters in compliance with Regulation 30 of SEBI (LODR) Regulations 2015. The company made these announcements to BSE Limited, where it trades under scrip code 522237.

New Director Appointments

The board approved two key independent director appointments, both requiring shareholder approval at the upcoming general meeting:

Mr. Arvind Joshi brings over 25 years of extensive experience in computer programming and key account management. His profile highlights expertise in delivering technology-driven solutions, managing major client accounts, and ensuring successful project execution with strong analytical and leadership skills.

Mrs. Kavita Jain contributes 5 years of experience in Sales and Marketing, Business Development, supply chain, Key Account Management, and Dealer Management. She demonstrates skills in identifying market trends, analyzing competitors, and maintaining strong relationships with manufacturers, retailers, and corporate clients.

Director Resignation

Ms. Priyanka Shah (DIN: 10511302) resigned from her position as Non-Executive Independent Director effective February 26, 2026, citing personal reasons and pre-occupation as the cause for her departure.

In her resignation letter, Ms. Shah confirmed there were no other material reasons for her resignation and expressed gratitude for the opportunity to serve the company.

Internal Auditor Appointment

The board also appointed M/S Sharma Umesh & Co. Chartered Accountant as Internal Auditor for the financial year 2025-2026, strengthening the company's internal audit framework.

Regulatory Compliance

All appointments and resignations were processed in accordance with SEBI regulations, with the company confirming that newly appointed directors are not debarred from holding directorial positions by SEBI or other authorities. The disclosures were made pursuant to Regulation 30 of SEBI (LODR) Regulations 2015 and relevant SEBI circulars from July 2023.