Visaka Industries Limited announced a significant restructuring of its senior leadership team on September 30, 2026. The company disclosed the retirement of S. Shafiulla, President (Finance & Accounts), alongside the promotion of three key executives to Senior Management Personnel (SMP) and Key Managerial Personnel (KMP) categories.

The changes were reported to the stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing highlights a shift in marketing leadership and compliance oversight, reflecting the company's strategic focus on its core divisions.

Leadership Changes and Promotions

S. Shafiulla, who served as President (Finance & Accounts), retired from the company effective the close of business hours on September 30, 2026. His departure marks the end of his tenure in the Senior Management category.

Simultaneously, the board approved the promotion of two marketing heads to the SMP category:

• Prakash Punj Verma was promoted to President (Marketing – AC Division).
• Chetan V. Bhadane was promoted to President (Marketing – V-Boards Division).

Both executives previously served as Senior Vice Presidents and have been elevated to lead their respective business units' marketing strategies and P&L management.

Additionally, Ramakanth Kunapuli was promoted from Assistant Vice President & Company Secretary to Vice President & Company Secretary. This role qualifies him as Key Managerial Personnel (KMP), underscoring the importance of governance and compliance in the company's operational framework.

Executive Profiles

The newly promoted leaders bring extensive experience from diverse sectors, including building materials, FMCG, and telecommunications.

Prakash Punj Verma

Verma holds an MBA with a PGDBA in Marketing & Sales Management and is currently pursuing a Senior Management Course at IIM Calcutta. With over 30 years of experience, he has held leadership roles at Simpolo Ceramics, Kajaria Ceramics, Kisan Mouldings, and Somany Ceramics. His expertise lies in P&L management, brand launches, and pan-India distribution expansion.

Chetan V. Bhadane

Bhadane possesses over 28 years of cross-industry leadership experience. He holds an MBA in Marketing and has worked with major entities such as Reliance Industries, NITCO, Greenply Industries, and HIL. His background includes building businesses from scratch, managing large distribution networks, and driving institutional sales across building materials and telecom sectors.

Governance and Compliance Structure

The appointment of Ramakanth Kunapuli as VP & Company Secretary reinforces Visaka Industries' commitment to robust corporate governance. As a KMP, he will oversee compliance obligations and regulatory reporting, ensuring alignment with SEBI guidelines and statutory requirements.

These appointments reflect Visaka Industries' strategy to strengthen divisional leadership in both its Asbestos Cement (AC) and V-Boards segments while maintaining rigorous financial and regulatory oversight.

Visaka Industries disclosed that promoter group entity Vigilance Security Services Private Limited acquired 15,000 equity shares in the open market on September 9, 2026. The acquisition brings the entity’s total holding to 4,321,254 shares, representing a 5.00% stake in the company.

The disclosure was filed under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing indicates that the shares acquired carry equal voting rights and are free of any encumbrances such as pledges or liens.

Acquisition Details

The transaction increased Vigilance Security Services’ holding from 4,306,254 shares (4.98%) to 4,321,254 shares (5.00%). The company’s total equity share capital remains unchanged at ₹17,28,09,520, divided into 8,64,04,760 equity shares of ₹2 each.

Vigilance Security Services is part of the promoter group of Visaka Industries. The open market purchase did not involve any convertible securities, warrants, or other instruments entitling the acquirer to receive additional voting rights. The total diluted share capital also remains at 8,64,04,760 shares.