Astec lifesciences has announced the resignation of Mugdha Amol Khare from her position as Chief Financial Officer of the company. This leadership change represents a significant development in the company's executive structure.

Leadership Transition

The departure of Mugdha Amol Khare from her role as CFO marks an important transition in the financial leadership of ASTEC Lifesciences. As Chief Financial Officer, Khare held a key position in overseeing the company's financial operations, strategic planning, and fiscal management.

Corporate Impact

The resignation creates a vacancy in one of the most critical executive positions at ASTEC Lifesciences. The CFO role is essential for maintaining financial oversight, regulatory compliance, and strategic financial planning within the organization. The company will need to initiate the process of identifying and appointing a suitable successor to ensure continuity in financial management operations.

Astec Lifesciences Limited has announced a key senior management appointment, strengthening its operational leadership team with the addition of an experienced industry professional.

Key Appointment Details

The company has appointed Mr. Milind Bhangaonkar as General Manager-Operations (Site Head) and Senior Management Personnel, effective December 15, 2025. The appointment was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Professional Background

Mr. Bhangaonkar brings extensive experience to his new role, with 29.40 years of proven success in the chemical industry. His expertise spans multiple critical areas including steering multi-site plant operations, driving business transformation, and facilitating organizational growth.

His professional capabilities include:

• Proven ability to scale operations and deliver profit and loss impact
• Strategic expansion expertise across Agrochemical, API-Pharma, and Specialty Chemical domains
• Technical excellence aligned with commercial outcomes
• Focus on safety, compliance, and profitability
• Recognition for building high-performance teams and driving innovation

Industry Experience

The newly appointed General Manager has worked with several prominent companies in the chemical sector before joining Astec Lifesciences. His previous associations include Thermax Chemicals Limited, Indo Amines Limited, Atul, Nicholas Piramal, and Gharda Chemicals.

Strategic Leadership Expertise

Mr. Bhangaonkar's experience extends to partnering with boards and promoters to shape long-term vision. His expertise includes:

• Post-merger integration management
• Contract manufacturing partnerships
• Operational outsourcing to optimize cost and efficiency
• Strategic planning and execution

Regulatory Compliance

The appointment follows all required regulatory procedures under SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. The company has disclosed all necessary particulars and details as required by the listing regulations. The information regarding this appointment is also available on the company's website at www.godrejastec.com .