Siyaram Recycling Industries Ltd has appointed Mr. Samoil Akilbhai Lokhandwala as its Company Secretary and Compliance Officer, effective August 1, 2026. The Board of Directors approved the appointment on July 29, 2026, based on the recommendation of the Nomination and Remuneration Committee. This hiring coincides with the acceptance of the resignation of Ms. Kesha Ravi Shah, who served in the same role until July 31, 2026, citing personal reasons. The leadership transition ensures continuity in compliance oversight as the company proceeds with a proposed capital hike from ₹25 crore to ₹45 crore.

The appointment was disclosed to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026. Bhavesh Ramgopal Maheshwari, Managing Director, signed the intimation letter confirming the Board’s decision. Mr. Lokhandwala is designated as a Key Managerial Personnel pursuant to Section 203 of the Companies Act, 2013.

Appointment Details

Mr. Samoil Akilbhai Lokhandwala (ICSI Membership No. A73225) brings specific regulatory expertise to the role. He is an Associate Member of the Institute of Company Secretaries of India (ICSI) and possesses practical experience in statutory secretarial compliances. Notably, his previous tenure at a listed Non-Banking Financial Company (NBFC) provides him with strong exposure to NBFC regulatory frameworks, Corporate Laws, and SEBI Listing Regulations.

Context: Capital Hike and Governance

The personnel change occurs alongside strategic financial planning. The Board approved a proposal on July 29, 2026, to increase authorized share capital by creating an additional two crore equity shares of ₹10 each. This raises the total authorized shares from 2.5 crore to 4.5 crore, increasing the capital limit from ₹25 crore to ₹45 crore. Shareholders will vote on this via postal ballot, with e-voting scheduled from July 31 to August 29, 2026.

What the Numbers Show

The simultaneous execution of a key compliance hire and a capital expansion plan indicates structured governance preparation. Mr. Lokhandwala’s background in NBFC regulations suggests the company is prioritizing robust regulatory adherence, potentially relevant for future fundraising or operational scaling. The resignation of the outgoing CS due to personal reasons, rather than performance issues, supports the view that this is a routine administrative transition amidst strategic growth initiatives.

Siyaram Recycling Industries Ltd has secured a new order worth ₹2.34 crore from Dharma Metalex for the supply of Brass Scrap Honey. This domestic fixed-cost contract is to be executed within 15 days, as disclosed pursuant to Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The Managing Director, Bhavesh Ramgopal Maheshwari, signed the intimation dated July 21, 2026. The transaction is not a related party transaction and was conducted at arm's length, with no interest held by the promoter, promoter group, or group companies in the client entity.

Prior to this development, the company had bolstered its order book with contracts worth ₹7.03 crore. This included an international order worth ₹4,13,70,317.23 from Green Metals FZCO for Brass Billets and a domestic order worth ₹2,89,76,080 from Saanvi Metal Craft for Brass Scrap Honey. Both previous orders were fixed-cost contracts with an execution period of 7 days.

Order Details

The recent contract with Dharma Metalex expands the company's domestic footprint. Earlier, the company also received orders worth ₹1.85 crore from domestic clients, including Metal Scrap India and Bhavya Impex, for the supply of Brass Scrap.

Key Information