N R Agarwal Industries Limited has taken a significant step in restructuring its collateral arrangement with Punjab National Bank. The company has accepted a sanction letter from the bank to convert the existing pledge on promoters' shares into a Non-Disposal Undertaking (NDU) as collateral for a term loan.

Key Details of the Conversion

• Original Arrangement: Promoters' shares were pledged as collateral for a term loan from Punjab National Bank.
• New Arrangement: The pledge will be converted into a Non-Disposal Undertaking (NDU).
• Status: N R Agarwal Industries has accepted the sanction letter from Punjab National Bank.
• Outcome: Upon completion of necessary formalities, the existing pledge will be released and substituted with the NDU.

Timeline and Disclosure

• Initial Intimation: The company had previously informed about this development.
• Acceptance Date: The sanction letter was accepted.
• Disclosure: This information was disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Implications of the Conversion

The conversion from a share pledge to a Non-Disposal Undertaking represents a change in the nature of the collateral arrangement. While the pledged shares could potentially be sold by the lender in case of default, an NDU typically restricts the promoters from selling their shares without the lender's consent, but does not give the lender direct claim over the shares.

Additional Company Updates

In a separate announcement on the same day, N R Agarwal Industries also informed about the closure of its trading window:

• Trading Window Closure: Effective from a specified date
• Duration: Until 48 business hours after the board meeting that will consider the unaudited financial results for a specific quarter
• Reason: Compliance with SEBI regulations and the company's Code of Conduct to prevent insider trading

This move indicates that the company is preparing for its quarterly financial review and is taking necessary steps to ensure fair trading practices.

N R Agarwal Industries Limited continues to maintain transparency in its corporate actions and regulatory compliance.

N R Agarwal Industries Ltd , a prominent player in the paper industry, has approved significant changes to its business operations and leadership structure at its 32nd Annual General Meeting (AGM) held on September 24, 2025. The company's shareholders passed several key resolutions that will shape its future direction and governance.

Expansion into Printing and Publishing

One of the most notable changes is the alteration of the company's Memorandum of Association. Shareholders approved the addition of a new clause 35A, which expands N R Agarwal Industries' business activities into printing and publishing. The company will now be able to engage in the production and distribution of newspapers, periodicals, magazines, books, greeting cards, playing cards, and stationery of all kinds.

Relocation of Registered Office

In a move that could have significant operational implications, the shareholders approved shifting the company's registered office from Maharashtra to Gujarat. This decision is subject to approval from the Regional Director and could potentially impact the company's administrative and logistical operations.

Leadership Reappointments

The AGM also saw the reappointment of key leadership positions:

• Smt. Reena Agarwal was reappointed as Whole Time Director, designated as Executive Director, for a further period of three years from August 1, 2025, to July 31, 2028.
• Shri Raunak Agarwal, who retired by rotation, was reappointed as a Director and also as Whole Time Director, designated as Executive Director, for three years from August 1, 2025, to July 31, 2028.
• Shri Rohan Agarwal was reappointed as Whole Time Director, designated as Executive Director & CEO, for three years from November 4, 2025, to November 3, 2028.

New Independent Director

The shareholders approved the appointment of Shri Mahendra Kumar Gupta as an Independent Director of the company for a term of five consecutive years, from September 24, 2025, to September 23, 2030.

Other Key Decisions

• The company declared a final dividend of Rs. 2.00 per share on equity shares for the financial year ended March 31, 2025.
• M/s. Parikh & Associates, Practising Company Secretaries, were appointed as Secretarial Auditors for a term of five consecutive years.
• The remuneration of Cost Auditors was ratified.
• A change in the place of keeping Registers and Records of the Company was approved.

These decisions reflect N R Agarwal Industries' strategic moves to diversify its business operations, streamline its administrative functions, and strengthen its leadership team. The expansion into printing and publishing, in particular, marks a significant broadening of the company's scope beyond its traditional paper manufacturing business.

The overwhelming shareholder support for these resolutions, with most receiving over 99% votes in favor, indicates strong confidence in the company's strategic direction and leadership.

As N R Agarwal Industries implements these changes, stakeholders will be watching closely to see how they impact the company's performance and market position in the coming years.