Sumitomo Chemical has accepted the resignation of Ninad D. Gupte as a Non-Executive, Non-Independent Director, effective August 31, 2026. The Mumbai-based chemical manufacturer disclosed the change in its Board composition on July 27, 2026, notifying both the Bombay Stock Exchange and the National Stock Exchange of India. The company stated that Mr. Gupte resigned for personal reasons and confirmed that there are no other material factors influencing his decision to step down.

The intimation was issued pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Para A of Part A of Schedule III to the said Regulations. The disclosure also aligns with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. Deepika Trivedi, Company Secretary & Compliance Officer, signed the communication on behalf of the company.

Resignation Details

Mr. Gupte, who holds DIN 00027523, tendered his resignation effective from the close of business hours on August 31, 2026. In his resignation letter addressed to the Chairman, he expressed gratitude for the cooperation received from fellow directors during his tenure and thanked the management of Sumitomo Chemical Company, Japan, for the opportunity to serve.

Other Directorships

The filing notes that Mr. Gupte continues to hold directorships in other listed entities. He serves as an Independent Director at Excel Industries Limited. At Excel Industries, he chairs the Nomination & Remuneration Committee and serves as a member of both the Audit Committee and the Risk Management Committee. These roles are distinct from his position at Sumitomo Chemical India Ltd.

Sumitomo Chemical India Limited has scheduled its Twenty-Sixth Annual General Meeting for Monday, 27 July 2026, at 02:30 P.M. via Video Conferencing. The meeting seeks shareholder approval for a significant leadership transition, with Dr Suresh Ramachandran, currently Deputy Managing Director, proposed to be promoted to Managing Director effective 1 September 2026. Concurrently, Mr Chetan Shah, the outgoing Managing Director, is proposed to be appointed as Non-Executive Non-Independent Director from the same date. Shareholders will also consider the reappointment of Mr N Sivaraman and the appointment of Mr Anand Mohan Tiwari as Independent Directors.

Leadership and Board Changes

Dr Suresh Ramachandran’s promotion to Managing Director is subject to the approval of a special resolution, with his tenure extending until 31 May 2028. His annual gross salary is set at ₹28,066,500. Mr Chetan Shah will transition to the role of Non-Executive Non-Independent Director and Advisor, with the Board approving remuneration not exceeding ₹30 million for the period from September 2026 to August 2027. The Board also proposes the reappointment of Mr N Sivaraman as Independent Director for a three-year term ending 31 August 2029, and the appointment of Mr Anand Mohan Tiwari as Independent Director for a two-year term ending 30 August 2028.

Dividend and Related Party Transactions

The Board has recommended a dividend of ₹1.30 per equity share for the financial year ended 31 March 2026. The record date for determining eligibility has been fixed as Friday, 17 July 2026, with payment scheduled on or after Monday, 3 August 2026. Additionally, shareholders will vote on approving related party transactions with holding company Sumitomo Chemical Company, Limited, Japan. The aggregate value of these transactions for FY 2026-27 is estimated at ₹16,235 million, representing 50.59% of the Company's consolidated turnover for FY 2025-26.

Key AGM Details

The meeting also includes the ratification of the remuneration of Cost Auditors M/s GMVP & Associates LLP. The remote e-voting period commences on 23 July 2026 and concludes on 26 July 2026.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE258G01013/bb9235a030674b93.pdf