Usha Martin Limited's promoter group has confirmed that no encumbrance was created on shares held by them during the financial year ended March 31, 2026. The disclosure, submitted to the National Stock Exchange of India Ltd. and BSE Limited, was made in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The confirmation covers the promoters, the promoter group, and persons acting in concert.

The letter, dated April 7, 2026, was addressed to the Manager of the National Stock Exchange of India Ltd., the Secretary of BSE Limited, and the Members of the Audit Committee of Usha Martin Limited . It explicitly states that the promoters and promoter group have not made any encumbrance, directly or indirectly, on the shares held by them in the company during the specified financial year.

Promoter and Promoter Group Details

The disclosure listed the entities and individuals comprising the promoter and promoter group. The list includes 14 members, categorized as either promoters or promoter group entities.

The communication was signed by Rajeev Jhavar in his capacity as a Promoter. A copy of the disclosure was forwarded to the Company Secretary of Usha Martin Limited.

Usha Martin Limited’s Board has approved the appointment of M/s. MSKA & Associates LLP as the statutory auditors for a term of five years, subject to shareholder approval. The decision was taken during a Board meeting held on May 26, 2026. The new auditors will replace the incumbent firm, M/s. S R Batliboi & Co. LLP, whose second and final term concludes at the end of the 40th Annual General Meeting. The Board also approved the re-appointment of two independent directors and the appointment of three additional directors to strengthen governance.

The appointment of M/s. MSKA & Associates LLP (Firm Registration No. 105047W/W101187) is based on the recommendation of the Audit Committee. The firm’s tenure will commence from the conclusion of the ensuing 40th Annual General Meeting and continue until the conclusion of the 45th Annual General Meeting. The outgoing auditors, M/s. S R Batliboi & Co. LLP, are completing their five-year term.

Based on the recommendation of the Nomination and Remuneration Committee, the Board approved the re-appointment of Mr. Venkatachalam Ramakrishna Iyer and Mr. Sethuratham Ravi as Non-Executive Independent Directors. Both directors have been re-appointed for a second and final term of five years, effective from November 12, 2026, to November 11, 2031, subject to shareholder approval.

The Board also appointed three Additional Directors (Non-Executive, Non-Independent) with immediate effect from May 26, 2026. Ms. Shreya Jhawar, Mr. Dimitri Bracco Gartner, and Mr. Sabyasachi Majumder were appointed to the Board. Ms. Jhawar is the daughter of Mr. Rajeev Jhawar, Managing Director of the Company. These appointments are subject to the relevant regulatory disclosures.

The following table summarizes the key appointments and their respective terms:

The company confirmed that none of the appointed or re-appointed directors are debarred from holding the office of director by SEBI or any other authority. The Board meeting commenced at 10:00 AM and concluded at 10:36 AM on May 26, 2026.