Carborundum Universal , a leading manufacturer of abrasives, ceramics, and electrominerals, has announced the departure of its Chief Financial Officer (CFO), Sushil Kishor Bendale. The company disclosed this significant change in a recent filing with the stock exchanges.

Resignation Details

According to the company's statement, Mr. Bendale has stepped down from his position as CFO and Key Managerial Personnel (KMP) effective from the closing hours of September 26, 2025. This move follows an earlier intimation made by the company on August 7, 2025, suggesting that the transition has been in the works for some time.

Company's Disclosure

The announcement was made through an official communication to both the BSE Limited and the National Stock Exchange of India Ltd. Rekha Surendhiran, the Company Secretary of Carborundum Universal Limited, signed the disclosure, ensuring compliance with regulatory requirements.

Impact and Next Steps

The departure of a key executive like the CFO can have significant implications for a company's financial strategy and operations. While the company has not provided information about a successor or the reasons for Mr. Bendale's departure, such changes often lead to a period of transition in the financial leadership of an organization.

Investors and stakeholders will likely be watching closely to see how Carborundum Universal manages this transition and who will be appointed to fill this crucial role. The company's ability to maintain financial stability and continue its strategic initiatives during this period will be of particular interest to the market.

Carborundum Universal has received a formal request from Yanmar Coromandel Agrisolutions Private Limited (YCAS) for reclassification from the company's promoter group category to public category. This request follows a significant change in YCAS's shareholding structure, prompted by a substantial fund infusion from Yanmar Asia (Singapore) Corporation Pte Ltd (Yanmar Singapore).

Key Details of the Reclassification Request

• Shareholding Change: Coromandel International Limited's (CIL) stake in YCAS decreased from 40% to 10.60%.
• Fund Infusion: Yanmar Singapore injected Rs. 149.72 crores into YCAS on September 27, 2024.
• Share Allotment: YCAS allotted 11,09,00,741 equity shares, each with a face value of Rs. 10, to Yanmar Singapore.
• Current Holding: YCAS currently holds no shares in Carborundum Universal.

Rationale for Reclassification

The reclassification request is based on YCAS no longer meeting the definition of a promoter group as specified in Regulation 2(pp) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. This is due to CIL's reduced shareholding in YCAS, which is now below the 20% threshold.

Regulatory Compliance

In accordance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, YCAS has confirmed that:

• It holds no voting rights in Carborundum Universal.
• It does not exercise control over the affairs of the company.
• It has no special rights or informal arrangements with the company.
• It is not represented on the board of directors and has no nominee director.
• None of its members act as key managerial personnel in the company.

Next Steps

1. The reclassification request will be presented to Carborundum Universal's Board of Directors for approval.
2. Upon receiving board approval, the company will seek further approvals from the National Stock Exchange of India Limited (NSE) and BSE Limited.

This reclassification, if approved, will reflect the current ownership structure more accurately and align with regulatory requirements. Investors and market participants are advised to take note of this potential change in the company's promoter group composition.