Adani Enterprises Limited (AEL), a key player in India's infrastructure and energy sectors, has announced a significant change in its board composition. The company has appointed Bharat Kanaiyalal Sheth as an Additional Director (Non-Executive, Independent) for a three-year term, effective August 9, 2025, subject to shareholder approval.

Board Transition

The appointment of Sheth coincides with the completion of Hemant Nerurkar's second term as an Independent Director. Nerurkar's tenure concluded at the close of business hours on August 9, 2025, marking the end of his association with the company. The Board of Directors and Management of Adani Enterprises have expressed their appreciation for Nerurkar's valuable contributions and guidance during his time with the company.

Profile of Bharat Kanaiyalal Sheth

Bharat Sheth brings a wealth of experience to Adani Enterprises, particularly in the shipping industry. His appointment was based on the recommendation of the Nomination and Remuneration Committee and approved by the Board of Directors through a resolution passed by circulation.

Key points about Bharat Sheth:

• Currently serves as Deputy Chairman & Managing Director of The Great Eastern Shipping Company Limited, India's premier shipping company
• Holds a Bachelor of Science (Economics) with honours from St Andrews University, Scotland
• Joined the shipping industry in 1981 and has over four decades of experience
• Appointed as Executive Director of The Great Eastern Shipping Company in 1989, became Managing Director in 1999, and Deputy Chairman & Managing Director in 2005
• Chairman of Greatship (India) Ltd., a wholly-owned subsidiary operating in the oil field services business
• Board member of several prestigious organizations, including North of England P&I Association Ltd, Steamship Mutual Association (Bermuda) Limited, Indian National Shipowners Association, and International Tanker Owners Pollution Federation Limited

Corporate Governance and Compliance

Adani Enterprises has confirmed that Bharat Sheth is not related to any Director of the company and is not debarred from holding the office of Director by virtue of any SEBI or other such authority. This appointment aligns with the company's commitment to maintaining strong corporate governance practices.

Additional Corporate Developments

In a separate announcement on August 8, 2025, Adani Enterprises disclosed the incorporation of two step-down wholly-owned subsidiaries through its subsidiary Mundra Synenergy Limited:

1. OD Syn-Gas & Chemicals Limited (OSGCL)
2. UP Syn-Gas & Chemicals Limited (USGCL)

Both entities have been incorporated with a subscribed capital of Rs. 5.00 lakh each, divided into 50,000 equity shares of Rs. 10 each. These new subsidiaries are set to operate in the chemical industry, focusing on the manufacture of chemicals and chemical products.

The strategic expansion into the chemical sector through these subsidiaries signals Adani Enterprises' intent to diversify its business portfolio and explore new growth opportunities in the chemical manufacturing domain.

Adani Enterprises Limited, a diversified business conglomerate, has taken a significant step to strengthen its presence in the chemical industry. The company announced the incorporation of two new step-down wholly owned subsidiaries through its subsidiary Mundra Synenergy Limited on August 8, 2025.

New Subsidiaries

The two newly incorporated entities are:

1. UP Syn-Gas & Chemicals Limited (USGCL)
2. OD Syn-Gas & Chemicals Limited (OSGCL)

Both companies are set to operate in the chemical industry, with a focus on manufacturing chemicals and chemical products.

Financial Details

According to the company's filing with the stock exchanges:

• Mundra Synenergy Limited, a wholly owned subsidiary of Adani Enterprises, holds 100% shareholding in both USGCL and OSGCL.
• As of now, both subsidiaries have not commenced business operations and report nil turnover.

Strategic Expansion

This move appears to be part of Adani Enterprises' strategy to expand its footprint in the chemical sector. The incorporation of these subsidiaries suggests that the company is positioning itself to capitalize on opportunities in the manufacture of chemicals and chemical products.

Regulatory Compliance

The company has duly informed the BSE Limited and the National Stock Exchange of India Limited about these incorporations, in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Future Prospects

While the newly incorporated subsidiaries are yet to commence operations, their establishment indicates Adani Enterprises' commitment to diversifying its business portfolio. The chemical industry presents significant growth potential, and these new entities could play a crucial role in the company's future expansion plans.

As these subsidiaries begin operations, investors and industry observers will likely keep a close watch on how they contribute to Adani Enterprises' overall growth strategy and financial performance in the coming years.