VST Industries Limited has issued a postal ballot notice to its shareholders seeking approval for the regularisation and appointment of Mr. Piyush Srivastava as Managing Director & Chief Executive Officer. The notice, dated March 4, 2026, was sent to BSE Limited and National Stock Exchange of India Limited in compliance with Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Board Approval and Regulatory Compliance

The company's Board of Directors, based on recommendations from the Nomination and Remuneration Committee, approved the appointment of Mr. Piyush Srivastava (DIN: 10775803) as Additional Director on January 29, 2026. His regularisation as director is required within three months as mandated under SEBI Listing Regulations. The company has received all necessary disclosures and declarations confirming his eligibility for directorship under Section 164(2) of the Companies Act, 2013.

E-Voting Schedule and Process

The postal ballot will be conducted exclusively through remote e-voting, with no physical ballot forms being dispatched to members. The voting process follows the framework established under Sections 110 and 108 of the Companies Act, 2013, and related rules.

The company has appointed Mr. B.V. Saravana Kumar, Practicing Company Secretary (Membership No. ACS 26944, COP No. 11727), as Scrutinizer for conducting the postal ballot process. KFin Technologies Limited will facilitate the e-voting platform.

Professional Background and Qualifications

Mr. Piyush Srivastava brings extensive experience in the FMCG and Alco-Beverage sectors across India and Asian markets. He holds a Bachelor's degree in Engineering from the National Institute of Technology, Prayagraj, and a Master's degree in Business Administration from Xavier Institute of Management, Bhubaneswar.

Career Experience:

• Over 25 years of professional experience in FMCG and Alco-Beverage sectors
• Current role as Chief Commercial Officer at Pernod Ricard India
• Former Managing Director of Pernod Ricard for Hong Kong and Macau
• Member of Asia Executive Committee at Pernod Ricard
• Previous positions with PepsiCo, Marico, ITC-AT, and Tata Motors
• Expertise in commercial strategy, sales and distribution, and business transformation

Remuneration Structure

The proposed remuneration package for Mr. Srivastava includes multiple components designed to align with company performance and industry standards.

Additional benefits include housing allowance (maximum 30% of basic salary), provident fund contributions (up to 12% of salary), company car for official use, and participation in stock option plans worth up to 50% of basic salary per annum.

Voting Eligibility and Corporate Governance

Only members whose names appear in the Register of Members as on February 27, 2026, will be entitled to vote. The resolution requires approval by ordinary majority for passage. Corporate and institutional members must submit certified copies of Board resolutions and authority letters to the Scrutinizer.

The appointment is subject to provisions of the Companies Act, 2013, SEBI Listing Regulations, and the company's memorandum and articles of association. Mr. Srivastava holds no shares in the company and is not related to any existing directors or key managerial personnel.

VST Industries Limited has announced a significant leadership change with the resignation of Mr. Sanjay Wali from his position as Director and Whole-time Director. The resignation, effective from March 2nd, 2026, was communicated to stock exchanges under regulatory compliance requirements.

Resignation Details

Mr. Sanjay Wali, holding Director Identification Number (DIN) 10868596, submitted his resignation letter on March 1st, 2026, citing personal reasons for his decision to step down. The resignation takes effect from the beginning of March 2nd, 2026.

Committee Memberships Impact

Consequent to his resignation from the board, Mr. Wali will also cease to hold memberships in several key committees:

• Stakeholders Relationship Committee
• Corporate Social Responsibility (CSR) Committee
• Risk Management Committee

This departure will require the company to restructure these committee compositions to maintain regulatory compliance and operational effectiveness.

Board Acceptance and Transition

The Board of Directors formally accepted Mr. Wali's resignation through a resolution approved by majority circulation on March 2nd, 2026. In his resignation letter, Mr. Wali expressed appreciation for the support and collaboration received from board members, management team, and employees during his tenure.

The outgoing director confirmed that there are no material reasons for his resignation beyond those stated in his formal communication to the board.

Continued Association

Despite stepping down from his directorial position, Mr. Sanjay Wali will maintain his association with VST Industries in a new capacity. The Board has approved his continuation as a special advisor to the Managing Director for a period to be mutually agreed upon between the company and Mr. Wali.

This arrangement ensures continuity of his expertise and experience while facilitating a smooth transition of his directorial responsibilities. The company has indicated that this advisory role will support the transition process and maintain institutional knowledge.

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, and related SEBI Master Circular requirements. VST Industries has provided all necessary documentation and confirmations to both BSE Limited and National Stock Exchange of India Limited as per regulatory mandates.