Magadh Sugar & Energy Limited , a key player in the sugar industry, has announced its unaudited financial results for the quarter ended June 30, 2025, along with significant changes in its management team.

Financial Results

The company has released its financial results for the first quarter of the fiscal year. However, specific details about the company's performance, including revenue and profit figures, were not provided in the given information.

Management Changes

Magadh Sugar & Energy has undergone a notable leadership transition:

• CFO Resignation: Mr. Manoj Prasad has stepped down from his position as Chief Financial Officer (CFO), effective August 5, 2025. He will continue to serve the company as Vice President (Finance) of the Hasanpur unit, focusing on operational financial matters.

• New CFO Appointment: Mr. Aditya Baheti has been appointed as the new CFO, effective August 6, 2025. Baheti is a qualified Chartered Accountant with over 15 years of experience in accounting and finance functions.

Updated Key Managerial Personnel

Following these changes, the company's board has updated its list of Key Managerial Personnel:

1. Mr. Pankaj Singh - Whole-time Director
2. Mr. Aditya Baheti - Chief Financial Officer
3. Mr. S Subramanian - Company Secretary

These key personnel have been authorized to determine the materiality of events and make necessary disclosures to stock exchanges.

Looking Ahead

The management reshuffle comes at a crucial time for Magadh Sugar & Energy. With the appointment of a new CFO and the realignment of responsibilities, the company appears to be positioning itself for potential changes in its financial strategy and operations.

Investors and industry observers will be closely monitoring how these leadership changes impact the company's performance in the coming quarters, especially given the cyclical nature of the sugar industry.

For more detailed information about the company's financial results and recent developments, interested parties can visit the official Magadh Sugar & Energy website at www.magadhsugar.com .

Magadh Sugar & Energy Limited has issued a corrigendum to its 11th Annual General Meeting (AGM) notice, addressing an error in the appointment resolution for a new Executive Director. The company has also announced significant changes to its board and management structure.

Correction in AGM Notice

The company discovered an inadvertent omission in Resolution Item No. 7 of the AGM notice, which pertains to the appointment of Mr. Pankaj Singh as Executive Director. The correction includes references to Sections 2(51) and 203 of the Companies Act, 2013, and the addition of the words 'Key Managerial Personnel' and 'liable to retire by rotation, if required'.

Appointment of New Executive Director

Mr. Pankaj Singh (DIN: 11090613) has been appointed as an Additional Director of the company, effective May 14, 2025. The Board has also proposed his appointment as an Executive Director for a period of three years, designated as Whole-time Director and Key Managerial Personnel, subject to shareholder approval at the upcoming AGM.

Profile of Mr. Pankaj Singh

Mr. Singh brings over 30 years of experience in the sugar industry to Magadh Sugar & Energy. He holds a Bachelor of Engineering (Mechanical) degree from NIT-Shilchar, ANSI (Sugar Engineering), and PGDBA from Pondicherry University. He is also an alumnus of IIM-Ahmedabad. His most recent role was with DCM Shriram Sugar group, where he served for 17 years in various pivotal positions.

Remuneration Package

The proposed remuneration package for Mr. Singh includes:

Additionally, Mr. Singh will be entitled to other benefits such as provident fund contribution, company-provided cars with drivers, and reimbursement of business-related expenses.

AGM Details

The 11th AGM of Magadh Sugar & Energy Limited is scheduled for August 2, 2025, at 11:00 a.m. through video conferencing. The meeting agenda includes:

1. Adoption of audited financial statements for the year ended March 31, 2025
2. Declaration of a dividend of ₹12.50 per equity share
3. Appointment of directors
4. Appointment of M/s. Vinod Kothari & Co. as secretarial auditor for 5 years
5. Ratification of cost auditor remuneration
6. Formal appointment of Mr. Pankaj Singh as Director and Executive Director

The company has emphasized that all other contents of the AGM Notice and explanatory statement remain unchanged, except for the mentioned correction.

Magadh Sugar & Energy Limited continues to demonstrate its commitment to corporate governance by promptly addressing and correcting the error in its AGM notice. The appointment of Mr. Pankaj Singh, with his extensive experience in the sugar industry, is expected to bring valuable expertise to the company's leadership team.