Vardhman Special Steels Limited appointed Koichiro Hayashida as Senior Management Personnel, designated President (Forging Division), effective October 1, 2026. This appointment follows his resignation from the Board of Directors on the same date.

The move marks a transition from oversight to operational leadership. Hayashida previously served as a Non-Executive Non-Independent Director, a role he held since the commencement of the partnership between Vardhman and his former company seven years ago. His resignation letter cited the full-time nature of the new appointment as the primary reason for stepping down from the board.

Leadership transition details

The appointment was approved by the Board of Directors via resolution by circulation dated September 30, 2026, based on the recommendation of the Nomination and Remuneration Committee. The change complies with Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Hayashida’s profile highlights extensive expertise in steelmaking technology and quality control. He holds a master's degree from Kumamoto University, Japan. Prior to this role, he served as an Executive Officer at Hagane Company (Specialty Steel) and as General Manager of the Specialty Steel Business Management Division. He also served as President of Aichi Forge, Thailand from 2021 to 2024.

Operational focus in forging division

The specific designation of President (Forging Division) suggests a strategic emphasis on strengthening the forging vertical within Vardhman Special Steels' operations. Hayashida expressed gratitude to Chairman and Managing Director Sachit Jain and the Board for their leadership during the past seven years of collaboration. He noted that the partnership has been a significant part of his professional journey with the company.

The disclosure includes details required under SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026, regarding the appointment of Senior Management Personnel. The resignation and appointment were formally communicated to BSE Limited and National Stock Exchange of India Ltd. on September 30, 2026.

Vardhman Special Steels shareholders approved all seven resolutions at its 16th Annual General Meeting on September 18, 2026. The final dividend of ₹3.5 per equity share for FY26 was ratified alongside director reappointments.

The meeting, conducted via Video Conferencing and Other Audio Visual Means, commenced at 10:00 am and concluded at 10:33 am. Chairman and Managing Director Sachit Jain presided over the proceedings. Audited financial statements for the fiscal year ended March 31, 2026 were adopted by shareholders.

Governance and Board Changes

Shareholders approved the reappointment of two directors retiring by rotation under Section 152(6) of the Companies Act, 2013:

• Rajendar Kumar Rewari (DIN: 00619240)
• Toshio Ito (DIN: 09654963)

A special resolution was passed to approve the continuation of Rajendar Kumar Rewari’s term as Executive Director upon attaining the age of 70 years.

Special Resolutions

The special business agenda included two significant approvals:

1. Revision of remuneration payable to Soumya Jain, Executive Director.
2. Ratification of remuneration for Cost Auditors for the financial year ending March 31, 2027.

Voting Results

Remote e-voting was facilitated through CDSL from September 15 to September 17, 2026. Khanna Ashwani & Associates served as the scrutinizer. A total of 76,406,908 votes were polled across all resolutions, representing 79.01% of outstanding shares. The scrutinizer report confirmed that all resolutions were passed with requisite majority.

Promoter group shareholders held 49,493,999 shares and voted 100% in favour of all resolutions. Public institutional investors held 3,054,973 shares, while public non-institutional shareholders held 44,152,206 shares.