vaswani industries has announced that its board of directors will meet on Saturday, May 30, 2026. The meeting has been convened in accordance with Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Agenda for the Meeting

The primary focus of the board meeting will be to consider and approve the company's financial performance for the recent period. The directors are scheduled to review the standalone financial results for the quarter and financial year ended March 31, 2026. Furthermore, the board will consider the approval of the audited standalone financial statements for the full financial year 2025-26.

Preferential Allotment Proposal

In addition to the financial results, the board will deliberate on a significant corporate action. The directors will consider, discuss, and approve the fresh issuance of equity shares of the company by way of preferential allotment. This move is aimed at potentially raising capital through the issuance of shares to select investors.

Meeting Details

The board meeting is set to take place at the company's registered office. The intimation regarding the meeting was addressed to the listing departments of both BSE Limited and the National Stock Exchange of India Ltd. to ensure compliance with regulatory requirements.

Vaswani Industries Limited announced on May 18, 2026, that its Board of Directors, at a meeting held at 5:00 P.M. and concluding at 6:30 P.M., approved the re-appointment of Mr. Rituraj Peswani (DIN: 00040277) as an Independent Director. Mr. Peswani had served a first term of five consecutive years as Independent Director, which concluded on May 18, 2026, with his office ceasing at the close of business hours on that date. The Nomination and Remuneration Committee, at its meeting held on May 18, 2026, carried out a performance evaluation and, being satisfied with his continued independence, qualifications, skills, expertise, and experience, recommended his re-appointment for a second term.

Based on the NRC's recommendation, the Board appointed Mr. Peswani as an Additional Director in the Non-Executive, Independent Category, effective May 19, 2026, pursuant to Sections 149, 150, 152, and 161 of the Companies Act, 2013. The re-appointment is for a second term of five consecutive years commencing from May 19, 2026, subject to shareholder approval by way of Special Resolution. As required under Regulation 17(1C) of the SEBI (LODR) Regulations, 2015, such approval must be obtained at the ensuing Annual General Meeting or within three months from May 19, 2026, whichever is earlier. The company confirmed that Mr. Peswani is not related to any Director or Key Managerial Personnel and is not debarred from holding the office of Director by any regulatory authority.

Director Profile

Mr. Rituraj Peswani holds a Master's Degree in Commerce (M.Com.) and possesses more than 20 years of experience in the steel and iron industry. He has extensive knowledge and expertise in the trading of steel and allied products, with a deep understanding of market dynamics, business operations, and industry practices. The Board noted that his vast industry experience and commercial acumen bring significant value and strategic insight to the company.

Appointment Details

The key details regarding the appointment and re-appointment of Mr. Peswani are outlined below.

Committee Memberships

The Board confirmed that Mr. Peswani's membership in various committees will continue uninterrupted effective May 19, 2026, in his capacity as an Additional Director in the Non-Executive Independent Director category, with no change in the constitution of these committees.