TCI Industries Limited has accepted the resignation of Mr. Sunil Kamalakar Warerkar from the position of Whole-time Director, effective from the close of business hours on 30 June 2026. The resignation, attributed to personal reasons, was communicated to the stock exchanges pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company disclosed that Mr. Warerkar, who was designated as Executive Director, had initially submitted his resignation on 31 March 2026 following a board meeting on 14 November 2025 where he agreed to extend his tenure.

Mr. Warerkar referenced his appointment letter dated 16 January 2025, which required a three-month notice period. While he initially requested to be relieved on 31 December 2025, he subsequently agreed to continue until 30 June 2026 after discussions with the management. The filing confirmed that the cessation of his directorship took effect on the stipulated date in June 2026.

In his resignation letter, Mr. Warerkar highlighted the financial state of the company at the time of his departure. He stated that he was leaving the organization with a strong financial position compared to earlier years, noting a record revenue of Rs. 5 Cr plus and an estimated net profit for the year ending. He also expressed optimism regarding the company's future revenue growth for the year 2026-27 and the resolution of ongoing legal matters.

Key Details of Resignation

The disclosure was made by Anisha Dad, Company Secretary and Compliance Officer of TCI Industries . The information has been disseminated to BSE Limited and is also available on the company's official website.

TCI Industries has scheduled a board meeting on June 16, 2026, to deliberate on the reclassification of its authorised share capital and the issuance of redeemable preference shares to promoters. The meeting, convened pursuant to Regulation 29(1) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, will address key structural changes to the company's equity framework.

Agenda for the Board Meeting

The board will consider approving the reclassification of the authorised share capital and the consequent alteration of the capital clause in the Memorandum of Association of the Company. This move is aimed at restructuring the equity base to facilitate future capital requirements.

Another critical item on the agenda is the proposal to issue redeemable preference shares on a private placement basis specifically to promoter and promoter group companies. The board will also review and take on record the valuation report for the proposed issue of Non-Convertible Redeemable Preference Shares (NCRPS).

Procedural Details

The notice for the board meeting will be uploaded on the company's website, www.tcil.in , in compliance with Regulation 46(2)(I)(i) of the Listing Regulations. The intimation was submitted to BSE Limited on June 9, 2026, by Anisha Dad, Company Secretary and Compliance Officer.