Vesuvius India Limited, a key player in the manufacturing sector, has announced the closure of its plant in Visakhapatnam, marking a significant shift in its operational strategy. The company has ceased operations at its facility located at Plot Nos. 13-15, Block E, IDA, Visakhapatnam, effective October 13, 2025. This move follows the commencement of commercial operations at the company's new state-of-the-art Al-Si Monolithic Plant in Parawada Industrial Area, Anakapalli.

Financial Impact

The closure of the Visakhapatnam plant, known as the VS Plant, is noteworthy given its substantial contribution to the company's financial performance. Key financial details related to the closed plant are as follows:

Despite the significant revenue contribution of the VS Plant, Vesuvius India has stated that the closure is not expected to have any adverse material impact on its business operations or revenue. This confidence stems from the new facility in Parawada Industrial Area becoming fully operational.

Strategic Shift

The decision to close the VS Plant is part of Vesuvius India's strategic move to enhance its manufacturing capabilities. The new Al-Si Monolithic Plant, located at Plot Nos. 70, 71, 72 & 74, E-Bhonangi, Parawada Industrial Area, Lankelapalem, Anakapalli, is described as a state-of-the-art facility. This transition suggests that the company is focusing on modernizing its production processes and potentially improving efficiency.

Regulatory Compliance

In compliance with regulatory requirements, Vesuvius India has made the necessary disclosures under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The company has informed the BSE Limited and the National Stock Exchange of India Ltd about this development, ensuring transparency with its stakeholders.

Looking Ahead

While the closure of a significant revenue-generating plant could typically raise concerns, Vesuvius India's assurance regarding no adverse impact on business operations or revenue is noteworthy. The company's confidence suggests that the new Al-Si Monolithic Plant is expected to not only replace but potentially enhance the production capabilities previously held by the VS Plant.

As Vesuvius India navigates this transition, stakeholders will likely be keen to observe how the new facility performs and whether it can effectively maintain or improve upon the revenue contribution of the closed Visakhapatnam plant. The coming months will be crucial in determining the success of this strategic move and its impact on Vesuvius India's overall performance in the manufacturing sector.

Vesuvius India Limited has announced significant changes to its Board of Directors, marking a new chapter in the company's leadership structure. The refractory and advanced ceramics manufacturer has made strategic appointments while bidding farewell to long-serving members.

New Appointments and Resignations

The Board of Directors, in a meeting held on September 23, approved several key changes:

New Independent Directors

• Ms. Rashmi Joshi and Mr. Sridhar Gorthi have been appointed as Additional Directors under the Independent Category.
• Their appointments are for a term of five consecutive years, effective September 24, subject to shareholder approval.

Completion of Tenure

• The company noted the completion of second terms for Independent Directors Mr. Biswadip Gupta and Ms. Nayantara Palchoudhuri, which conclude on September 24.

Resignation

• Mr. Sudipto Sarkar, a Non-Executive Non-Independent Director, has resigned effective September 23, citing personal reasons.

New Non-Executive Director

• Mr. Biswadip Gupta, who just completed his tenure as an Independent Director, has been appointed as an Additional Director under the Non-Executive Non-Independent Category, effective September 25.

Profiles of New Appointees

Ms. Rashmi Joshi

• Chartered Accountant and Company Secretary with over three decades of experience
• Held leadership roles in multinational organizations across Asia-Pacific
• Former Executive Director of Castrol India Limited (2005-2020)
• Expertise in corporate governance, risk management, and business strategy

Mr. Sridhar Gorthi

• Founding partner of Trilegal and member of the firm's management committee
• Holds a law degree from the National Law School of India University, Bengaluru
• Expertise spans manufacturing, pharmaceuticals, insurance, banking, technology, and more
• Consistently ranked in Chambers and Partners for Corporate/M&A and Private Equity

Postal Ballot for Shareholder Approval

The Board has approved a Postal Ballot Notice seeking shareholder approval for the following:

1. Appointment of Ms. Rashmi Joshi as a Non-Executive Independent Director
2. Appointment of Mr. Sridhar Gorthi as a Non-Executive Independent Director
3. Appointment of Mr. Biswadip Gupta as a Non-Executive Non-Independent Director

Company's Acknowledgment

Vesuvius India expressed its deep appreciation for the contributions of the outgoing directors, particularly highlighting the invaluable guidance provided by Mr. Sudipto Sarkar and Ms. Nayantara Palchoudhuri during their tenures.

These board changes reflect Vesuvius India's commitment to maintaining a diverse and experienced leadership team as it navigates the evolving business landscape. The new appointments bring fresh perspectives and expertise to the company's governance structure, while the retention of Mr. Biswadip Gupta in a new capacity ensures continuity of valuable industry knowledge.

Shareholders will have the opportunity to vote on these appointments through the upcoming postal ballot, demonstrating the company's adherence to corporate governance best practices and shareholder engagement.