ASI Industries Limited has announced the resignation of Independent Director Mr. Gaurang Gandhi, effective from the close of working hours on January 28, 2026. The company informed BSE Limited about this board change under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Details

Mr. Gaurang Gandhi submitted his resignation letter on January 28, 2026, citing preoccupation and other commitments as the primary reason for stepping down from his position. The resignation takes effect immediately from the close of business hours on the same date.

Regulatory Compliance

The company has fulfilled all disclosure requirements as mandated under Para A (7&7B) of Part A of Schedule III to the SEBI LODR, read with SEBI Master Circular dated November 11, 2024. Mr. Gandhi has provided confirmation that there are no other material reasons for his resignation beyond those mentioned in his resignation letter.

Other Directorships

Mr. Gandhi continues to serve as Executive Director of Pioneer Investcorp Limited, where he holds membership in key board committees:

• Member of Audit Committee
• Member of Stakeholder Relationship Committee

Corporate Communication

The resignation intimation has been signed by Company Secretary & Compliance Officer Manish Kakrai and uploaded on the company's website at www.asigroup.co.in . The company has requested BSE Limited to take the resignation on record and will arrange to submit the necessary forms with the Registrar of Companies, Mumbai accordingly.

ASI Industries Limited has announced its unaudited financial results for the quarter and nine months ended December 31, 2025, demonstrating strong operational performance with significant quarter-on-quarter improvement in profitability.

Financial Performance Highlights

The company delivered robust financial results for Q3FY26, with net profit showing substantial growth compared to the previous quarter. Revenue from operations remained strong, supported by the company's core mining and processing activities.

Nine-Month Performance Analysis

For the nine months ended December 31, 2025, ASI Industries maintained steady performance with total revenue of ₹11534.78 lakhs compared to ₹12001.20 lakhs in the corresponding period of the previous year. The company achieved a net profit of ₹1715.39 lakhs for the nine-month period, slightly higher than ₹1655.94 lakhs in the previous year.

Operational Efficiency and Cost Management

The company demonstrated effective cost management during the quarter. Total expenses for Q3FY26 were ₹3882.34 lakhs compared to ₹2399.89 lakhs in the previous quarter. Key expense categories included power and fuel costs of ₹993.21 lakhs, employee benefits expense of ₹989.92 lakhs, and other expenses of ₹1686.02 lakhs. Finance costs remained controlled at ₹49.03 lakhs for the quarter.

Corporate Governance Updates

The Board of Directors approved several important corporate governance decisions during their meeting held on January 28, 2026:

• Director Appointments: Approved postal ballot notice for appointment of Mr. Rajaram Gordhanlal Agarwal as Independent Director
• Scrutinizer Appointment: Designated Mr. Prabhat Maheshwari or Mr. Nirmal Gupta from GMJ & Associates as postal ballot scrutinizers
• Director Resignation: Mr. Gaurang Gandhi resigned as Non-Executive, Non-Independent director effective January 28, 2026
• Committee Reconstitution: Restructured all key committees including Audit, Stakeholder Relationship, Nomination & Remuneration, and CSR committees

Committee Structure

Following the reconstitution, the key committees now comprise:

Business Outlook and Regulatory Compliance

ASI Industries operates in the mining and processing of natural stone segment, which remains its single reportable business segment. The company has assessed the impact of the New Labour Codes implemented from November 21, 2025, resulting in an increase of ₹4.70 lakhs in employee benefit expenses due to enhanced gratuity and leave liabilities. The financial results have been prepared in accordance with Indian Accounting Standards and received limited review from the company's statutory auditors.