Andrew Yule & Company Limited has announced a significant change in its board composition following an official directive from the Ministry of Heavy Industries (MHI), Government of India. The state-owned enterprise disclosed this development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Transition Details

The Ministry of Heavy Industries issued Order F. No. 10-10(9)/2018-PE.I dated January 13, 2026, communicating that the President of India has appointed Shri Kulbhushan Malhotra, Deputy Secretary at MHI, as Part-time Official Director (Government Nominee) on the company's board. This appointment comes as a direct replacement for Shri Brajesh Kumar Srivastava, Deputy Secretary at MHI, who previously held the same position.

Regulatory Compliance and Documentation

The company has fulfilled its disclosure obligations by providing comprehensive details as required under SEBI regulations. Shri Brajesh Kumar Srivastava officially relinquished his position as Part-Time Official Director effective January 13, 2026, following the presidential appointment order.

Shri Kulbhushan Malhotra will formally assume his directorship responsibilities upon availability of his Director Identification Number (DIN), in accordance with the provisions of the Companies Act, 2013. The appointment carries immediate effect and will continue until further orders from the appointing authority.

Corporate Governance Framework

This board change reflects the standard governance practices for government enterprises, where the Ministry of Heavy Industries exercises its oversight role through nominated directors. The transition ensures continuity in government representation on the company's board while maintaining regulatory compliance standards.

The disclosure was signed by Company Secretary Sucharita Das on January 14, 2026, confirming the company's adherence to timely reporting requirements under SEBI guidelines. Andrew Yule & Company Limited continues to operate as a Government of India enterprise, with its registered office located at Yule House, Kolkata.

Andrew Yule & Company Limited (AYCL), a prominent player in the Indian industrial sector, has announced a significant addition to its leadership team. The company has appointed Shri Sharad Kumar as the new Director (Planning) and designated him as a Key Managerial Personnel (KMP), effective November 17, 2025.

Appointment Details

The appointment comes following an order from the Ministry of Heavy Industries, Government of India. Here are the key details of the appointment:

Professional Background

Shri Sharad Kumar brings a wealth of experience to his new role at Andrew Yule & Co Limited:

• Age: 54 years
• Experience: Nearly three decades across various industries
• Expertise:
  • Strategic thinking
  • Leadership
  • Mentoring
  • Operational excellence
  • Safety management
  • Performance optimization

Career Highlights

Shri Kumar's diverse career spans several key industries and projects:

1. Civil Construction: Led major projects including BARC-Tarapur (Units 3 & 4), Mumbai-Pune Expressway, Delhi Metro (DMRC), and NHPC hydel projects.
2. Mining: Extensive experience in iron ore (Odisha), coal (Madhya Pradesh), and limestone (Odisha, Assam, Telangana).
3. Cement Industry: Served as General Manager at Cement Corporation of India (CCI), recognized for leadership as Unit Head at Bokajan and Tandur units.

Educational Background

Shri Kumar's academic credentials include:

• M.Tech in Opencast Mining from IIT (ISM) Dhanbad
• First-Class Mines Manager Certificate (FCMMC) issued by DGMS
• C-DAC (PG-DAC) in Advanced Computing from YCPAIT, Mumbai
• B.Sc. (Engineering) in Mining from BIT Sindri
• Currently pursuing an MBA in Business Management from the School of Open Learning (SOL), University of Delhi (2024-2026)

Compliance and Disclosure

AYCL has confirmed that Shri Sharad Kumar has provided a declaration stating he is not debarred from holding the office of Director by any SEBI order or order of any other such authority.

This strategic appointment is expected to bring fresh perspectives and extensive industry experience to Andrew Yule & Co Limited's leadership team, potentially influencing the company's planning and operational strategies in the coming years.