Vikram Solar Limited has provided detailed reasons for the resignation of its Executive Vice President & Head of Manufacturing Operations, Mr. Anil Bhadauria, following regulatory disclosure requirements under SEBI guidelines.

Resignation Timeline and Details

The resignation process unfolded over several weeks in March 2026, with multiple communications between the executive and company management.

Reason for Departure

In his clarification letter dated March 23, 2026, Bhadauria explicitly stated that his resignation from the position of Executive Vice President & Head of Manufacturing Operations was "to pursue other personal priorities and family engagements." This clarification was provided following a request from BSE Limited on March 21, 2026, seeking additional details about the senior management personnel change.

Regulatory Compliance

The company filed the corporate announcement under Regulation 30 of SEBI (LODR) Regulations, 2015, ensuring full transparency regarding the departure of senior management personnel. The filing included:

• Original resignation letter from March 3, 2026
• Detailed reason clarification letter from March 23, 2026
• Company's formal acceptance dated March 20, 2026

Transition Arrangements

Bhadauria committed to ensuring a seamless transition of his responsibilities, stating in his resignation letter that he would "extend full cooperation in transferring my responsibilities to such person(s) as may be nominated by the management." The extended notice period until May 31, 2026, provides adequate time for knowledge transfer and succession planning.

Professional Acknowledgment

In his formal communication, the departing executive expressed appreciation for the opportunity to serve the company and thanked the Board and management for their guidance and support during his tenure as head of manufacturing operations.

Vikram Solar Limited announced the appointment of Sameer Nagpal as Chief Executive Officer effective March 20, 2026, marking a significant milestone in the company's strategic expansion plans. The solar energy company made this announcement through an official press release, outlining ambitious growth targets and leadership transitions.

Strategic Leadership Appointment

Sameer Nagpal brings over three decades of leadership experience across diverse industries, with a proven track record at prominent companies including Livguard Energy Technologies, Dalmia Bharat Group, Shalimar Paints, Ingersoll Rand, Zicom and Carrier Air Conditioning. His appointment comes as Vikram Solar advances its strategic vision to deepen backward integration and scale manufacturing capabilities.

Ambitious Growth Roadmap

The company has outlined comprehensive expansion plans to become a fully integrated energy solutions provider. Vikram Solar targets significant capacity increases across multiple manufacturing segments, positioning itself as a major player in the global renewable energy landscape.

Leadership Statements and Vision

Mr. Gyanesh Chaudhary, Chairman & Managing Director, emphasized the critical nature of this appointment, stating that "Sameer brings a rare combination of transformation-led thinking and execution excellence, which will be critical as we evolve into a more integrated and globally competitive organisation."

The new CEO expressed enthusiasm about joining during this transformative period, noting his focus on "strengthening our market position, expanding our global footprint, and enhancing our integrated capabilities to better serve evolving customer and market needs."

Operational Continuity and Recognition

Mr. Krishna Kumar Maskara, who served as Interim CEO and led the company through its successful public listing in August 2025, will continue contributing as COO and CRO. His transition ensures operational continuity while providing enterprise risk management oversight.

The appointment reflects Vikram Solar's commitment to strengthening its position as one of India's leading integrated solar manufacturing and energy solutions providers, with headquarters in Kolkata, West Bengal.