Manali Petrochemicals Limited (MPL) has announced a significant corporate move, approving the sale of its entire stake in Notedome Limited, a wholly-owned material step-down subsidiary based in the UK. The Board of Directors gave the green light to this strategic decision during a meeting held on October 15, 2025.

Key Transaction Details

Impact on Financials

The divestment of Notedome Limited is expected to have a notable impact on MPL's consolidated financials. For the financial year 2024-25, Notedome Limited contributed:

About the Buyer

C.O.I.M. S.p.A., the acquiring company, is a globally recognized leader in chemical specialties with operations in over 90 countries. The company is not part of MPL's promoter group, making this an arm's length transaction.

Regulatory Compliance

The proposed sale adheres to Regulation 24(5) of the SEBI Listing Regulations, 2015. Manali Petrochemicals will seek shareholder approval through a postal ballot, as required by regulatory guidelines.

Future Implications

Upon successful completion of the transaction, Notedome Limited, along with its subsidiary, will cease to be a wholly-owned subsidiary of AMCHEM SG and a wholly-owned step-down subsidiary of MPL. This move could potentially allow Manali Petrochemicals to realign its focus on core operations and optimize its global portfolio.

As the chemical industry continues to evolve, this strategic divestment may position Manali Petrochemicals to better navigate market dynamics and concentrate on areas of stronger growth potential. Investors and stakeholders will be keenly watching how this transaction impacts the company's future financial performance and strategic direction.

Manali Petrochemicals Limited (MPL), a prominent player in the petrochemical industry, has announced significant changes to its leadership team, effective October 3, 2025. The company's Board of Directors approved these changes based on recommendations from the Nomination & Remuneration Committee and Audit Committee.

New Chief Financial Officer Appointed

Ms. Srishti M Bathija has been appointed as the new Chief Financial Officer for the MPL Group. Bathija, a Chartered Accountant and CFA Level I, brings over a decade of experience in strategic finance, mergers and acquisitions (M&A), and business transformation to her new role.

Prior to joining MPL, Bathija served as the Chief Financial Officer and Director at TIMAC Agro India Private Limited, a subsidiary of Groupe Roullier (France). Her impressive career includes stints with prestigious organizations such as PricewaterhouseCoopers, Goldman Sachs, and Deloitte.

Bathija's expertise spans various areas, including:

• Leading core finance, treasury, risk, compliance, and legal functions
• Building and scaling finance teams
• Implementing robust controls and automation
• Driving operational efficiencies
• Managing M&A transactions and business integration

Outgoing CFO Transitions to New Role

Ms. K Lalitha, the outgoing Chief Financial Officer, has resigned from her position effective October 3, 2025. Lalitha will continue to serve the company in a non-Key Managerial Personnel (KMP) finance role, ensuring a smooth transition of responsibilities.

In her resignation letter, Lalitha expressed gratitude for the opportunities provided during her tenure as CFO and committed to facilitating a seamless handover process.

New Independent Director Appointed

In another significant move, MPL has appointed Mr. Anand Raghavan as a Non-executive Independent Director for a five-year term, subject to shareholder approval through a postal ballot.

Raghavan brings 39 years of experience in the financial sector to the MPL board. His impressive background includes:

• A bachelor's degree in commerce from the University of Madras
• Chartered Accountant qualification
• Previous partnership at Ernst & Young
• Former Vice President of Corporate Affairs at Sundaram Finance Limited
• Member of the RBI's Committee on Functioning of Asset Reconstruction Companies
• Member of the Committee for Revival of MSMEs in Tamil Nadu

Corporate Governance and Compliance

MPL has confirmed that neither Ms. Bathija nor Mr. Raghavan is related to any of the company's directors. Additionally, the company has verified that Mr. Raghavan is not debarred from holding the office of director by any SEBI order or other authority, in compliance with stock exchange requirements.

These strategic appointments and changes in Manali Petrochemicals' leadership team are expected to bring fresh perspectives and expertise to the company, potentially driving growth and operational excellence in the coming years.