Southern Petrochemical Industries Corporation Ltd has announced a change in its senior management leadership following a board meeting held on May 22, 2026. The board approved the appointment of Narasimhan Raghunathan as the new Chief Financial Officer (CFO) and Key Managerial Personnel of the company. This appointment is effective from May 23, 2026.

The decision to appoint a new CFO was taken to enable K R Anandan, the Whole-Time Director and CFO, to focus on the overall business growth of the company. The appointment was based on the recommendations of the Nomination and Remuneration Committee and the Audit Committee.

Management Changes

As part of this restructuring, K R Anandan will be relieved from the responsibilities of the CFO position effective May 23, 2026. However, he will continue to serve as a Whole-Time Director and Key Managerial Personnel of the company. There is no disclosed relationship between the directors involved in these changes.

Profile of New CFO

Narasimhan Raghunathan brings extensive experience to the role. He is a graduate in Commerce and Law, and holds qualifications as a Chartered Accountant, Cost Accountant, and Company Secretary. He possesses nearly 25 years of experience in steering financial operations and finance functions across various manufacturing industries.

Prior to joining Southern Petrochemical Industries Corporation Ltd, Mr. Raghunathan was associated with several renowned business groups, including Greenstar Fertilizers Limited, Elecon Engineering Limited, KSB Pumps Limited, ZF Wind Power Limited, Ernst & Young, and Ashok Leyland.

Southern Petrochemical Industries Corporation Limited successfully completed its postal ballot process on 8th May 2026, with shareholders approving all four resolutions put to vote via remote e-voting. The ballot, initiated through a notice dated 23rd March 2026, covered key corporate governance matters including director appointments and remuneration approvals. The results were formally communicated to the National Stock Exchange of India Ltd. on 12th May 2026 by Company Secretary R. Swaminathan.

Postal Ballot Process and Timeline

The company dispatched the Postal Ballot Notice along with an Explanatory Statement by email on 8th April 2026 to members whose names appeared on the Register of Members as on the cut-off date of 3rd April 2026. The e-voting facility was provided through the Central Depository Services (India) Limited (CDSL) platform. A public advertisement regarding the dispatch of the notice was published in English newspaper Business Standard and Tamil newspaper Makkal Kural on 9th April 2026.

The remote e-voting window remained open from 9th April 2026 (9:00 A.M.) to 8th May 2026 (5:00 P.M.). The total number of shareholders on the cut-off date stood at 116461. M/s. B. Chandra & Associates, Practising Company Secretaries, were appointed as Scrutinizers and submitted their report dated 12th May 2026. The Registrar and Transfer Agent, Cameo Corporate Services Limited, confirmed that votes cast by e-voting were matched with the Register of Members. It was also noted that 1373 emails had bounced during the dispatch process.

Resolutions Placed Before Shareholders

The following four resolutions were put to vote during the postal ballot:

Voting Results: Resolution-wise Summary

All four resolutions were declared passed on 8th May 2026. The Scrutinizer confirmed that votes cast in favour of the Special Resolution (Resolution 1) exceeded three times the votes cast against, while votes in favour of each Ordinary Resolution exceeded the votes cast against. The following table summarises the e-voting outcome for each resolution:

Shareholder Category-wise Participation

Across all four resolutions, the total shares held stood at 203640336, with votes polled ranging between 110029839 and 110030042, representing approximately 54.03% of outstanding shares. The promoter and promoter group, holding 99745488 shares, voted entirely in favour across all resolutions via e-voting, with 99715688 votes polled (99.97% of their holding). Public institutional investors, holding 9804029 shares, participated with 8592374 votes polled (87.64% of their holding). Public non-institutional shareholders, holding 94090819 shares, recorded participation of approximately 1.83% of their holding across resolutions.

Outcome and Compliance

Pursuant to Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the detailed voting results in the prescribed format were filed with the stock exchange. The Scrutinizer confirmed that all e-voting data and connected records are under safe custody and will be handed over to the company after the Chairman signs the Minutes. The promoter and promoter group were not interested in any of the four agenda items, as confirmed in the voting result disclosures.