Ashiana Ispat Limited announced significant corporate developments following its Board of Directors meeting held on 14-02-2026. The board addressed crucial regulatory compliance matters and made key leadership appointments during the session that commenced at 3:00 P.M. and concluded at 6:30 P.M.

Financial Results Approval

The board considered and approved the company's unaudited financial results for the quarter and nine months ended 31 December 2025, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The financial results have been prepared in accordance with applicable Indian Accounting Standards (Ind AS) notified under the Companies Act, 2013.

Director Appointment

The board approved the appointment of Ms. Sarita Jain as Additional Director (Non-executive, Non-Independent Director) with effect from 14-02-2026. The appointment was made pursuant to Section 161(1) of the Companies Act, 2013, with special permission from the Chairperson.

Director Profile and Qualifications

Ms. Sarita Jain brings substantial business expertise to the board, with more than three decades of entrepreneurial experience. She is highly educated and has extensive experience in business operations. The company confirmed that Ms. Jain is not debarred from holding the office of Director by virtue of any order of SEBI or any other statutory authority.

Regulatory Compliance

The announcements were made pursuant to Regulation 30 read with Schedule III, Part A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has made the financial results and related documents available on its website at www.ail@ashianaaispat.in for stakeholder access.

The board meeting outcomes demonstrate Ashiana Ispat Limited's commitment to regulatory compliance and corporate governance standards. The company, with CIN L27107RJ1992PLC006611, operates from its registered office and works at A-1116, RIICO Industrial Area, Phase-III, Bhiwadi-301019, District Alwar, Rajasthan.

Ashiana Ispat Limited announced major board changes on January 19, 2026, marking a significant leadership transition as the company positions itself for expanded operations. The board meeting resulted in key appointments that reflect the company's strategic direction towards pan-India expansion and global presence.

New Managing Director Appointment

The board approved the appointment of Mr. Naresh Chand (DIN: 00004500) as Managing Director, subject to shareholder approval through a Special Resolution. This appointment requires compliance with the Companies Act, 2013 and SEBI LODR Regulations.

Mr. Naresh Chand brings extensive institutional knowledge, having been associated with the company since 1996. During his previous tenure as Managing Director, the company witnessed substantial progress across financial performance, governance standards, and stakeholder confidence. The board cited his proven leadership and turnaround experience as key factors in the decision, particularly given the company's current business restructuring phase.

Leadership Transition Details

The appointment comes as Mr. Puneet Jain (DIN: 00814312) resigned from his position as Managing Director, effective from the close of business hours on January 19, 2026. The board acknowledged his contributions during his tenure and expressed appreciation for his service.

Additional Board Appointment

The board also approved the appointment of Mr. Vicky Jain (DIN: 11489664) as Additional Director under Non-Independent Non-Executive Director category. Mr. Jain brings over 25 years of global business operations experience across 33 countries, with extensive exposure in markets including USA, Canada, UAE, Singapore, Malaysia, UK, and Morocco.

His professional credentials include:

• Certified Green Belt from CI
• Certified Business Consultant
• Leadership certification with AI from ISB
• Expertise in BPO industry operations and strategy
• Experience in managing large-scale operations and high-performance teams

Strategic Business Direction

The company emphasized that these leadership changes align with its restructuring initiatives and expansion plans. Ashiana Ispat Limited is transitioning from NCR-focused operations to establishing a pan-India presence while building global market reach. The board believes Mr. Naresh Chand's experience and strategic vision will provide the necessary guidance during this transformation phase.

Despite Mr. Naresh Chand's age of 81 years, the board unanimously determined that his experience, vision, and expertise significantly outweigh age-related considerations. The appointment demonstrates the company's confidence in leveraging seasoned leadership for its growth objectives and operational expansion strategy.