Blue Star Limited has issued a comprehensive postal ballot notice dated February 27, 2026, seeking shareholder approval for three critical director appointments through remote e-voting. The company has proposed significant leadership changes that will shape its strategic direction in the coming years.

Key Director Appointments Proposed

The postal ballot notice outlines three major resolutions for shareholder consideration:

E-Voting Schedule and Process

The company has established a comprehensive e-voting framework for shareholder participation. The remote e-voting period will commence on Monday, March 2, 2026, at 09:00 hours IST and conclude on Tuesday, March 31, 2026, at 17:00 hours IST. The cut-off date for determining eligible shareholders is Friday, February 20, 2026.

In compliance with Ministry of Corporate Affairs circulars, physical copies of the postal ballot notice and forms will not be distributed. The notice is being sent exclusively in electronic form to registered email addresses. National Securities Depository Limited has been engaged to provide the remote e-voting facility.

Managing Director Re-appointment Details

B Thiagarajan's proposed re-appointment comes with a comprehensive remuneration structure for the period from April 1, 2026 to May 24, 2027. His compensation package includes:

The performance-linked incentives will be evaluated based on multiple parameters including achievement against Annual Business Plan for consolidated operating revenue, profit metrics, strategic key result areas, sustainability initiatives, and organizational capability development.

New Executive Director Appointment

Mohit Sud, who joined the company in March 2025 as Group President, Unitary Cooling Products, is proposed for appointment as Executive Director. His remuneration structure includes:

Sud's appointment reflects the company's strategy to strengthen its unitary cooling products business, which encompasses room air conditioners and commercial refrigeration segments.

Independent Director Addition

M S Unnikrishnan, CEO of IITB-Monash Research Academy and former Managing Director & CEO of Thermax Group, has been proposed as an Independent Director. His appointment for a five-year term from January 29, 2026 to January 28, 2031 will bring extensive experience in strategy, business planning, and governance to the board.

Scrutinizer and Results Declaration

The Board of Directors has appointed Ms Deepti Kulkarni or alternatively Mr Omkar Dindorkar of M/s MMJB & Associates LLP as scrutinizers to conduct the postal ballot process. The results will be declared on or before Thursday, April 2, 2026, and will be communicated to stock exchanges and published on the company's website.

The postal ballot notice emphasizes that shareholders holding shares in either physical or dematerialized form as on the cut-off date may participate in the e-voting process. The company has made arrangements with its Registrar and Share Transfer Agent, MUFG Intime India Private Limited, to facilitate email registration for shareholders who have not yet registered their email addresses.

Blue Star Limited has disclosed an unauthorized access incident involving its product installation data to stock exchanges under regulatory compliance requirements. The company made this disclosure on February 1, 2026, pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Incident Details and Timeline

The cybersecurity incident came to the attention of the company's Compliance Officer on January 31, 2026, at 10:30 p.m. The unauthorized access specifically involved the company's product installation data, though the full scope and impact of the breach are still being assessed.

Immediate Response Measures

Upon becoming aware of the incident, Blue Star Limited has implemented several immediate response measures. The company has taken necessary steps to restrict further unauthorized access to prevent any additional compromise of data. The management is currently working with cybersecurity experts to conduct a comprehensive assessment of the incident's potential impact and perform a thorough root cause analysis.

Regulatory Compliance and Transparency

The company has made this disclosure as a matter of good governance, demonstrating its commitment to transparency with stakeholders. The information has been communicated to both BSE Limited and National Stock Exchange of India Ltd, and has also been placed on the company's official website at www.bluestarindia.com for public access.

The disclosure was signed by Rajesh Parte, Company Secretary & Compliance Officer, ensuring proper authorization and compliance with regulatory requirements. This proactive approach to disclosure reflects the company's adherence to corporate governance standards even while the investigation into the incident continues.