Exxaro Tiles Limited (ISIN: INE0GFE01026) has announced significant changes to its leadership structure, including the re-appointment of key directors and the addition of new members to its executive team. These changes, approved by the company's Board of Directors, are set to strengthen Exxaro Tiles' management and governance framework.

Board Re-appointments

The Board has approved the re-appointment of three directors for five-year terms, effective from January 6, 2026, to January 5, 2031, subject to shareholder approval:

1. Mr. Mukeshkumar B. Patel - Re-appointed as Managing Director
2. Mr. Kirankumar B. Patel - Re-appointed as Whole Time Director
3. Mr. Dineshkumar R. Patel - Re-appointed as Whole Time Director

New Appointments

In addition to the re-appointments, the Board has made two significant new appointments:

1. Mr. Miten Majmundar - Appointed as Additional Non-Executive (Independent) Director for a five-year term from November 18, 2025, to November 17, 2030, subject to shareholder approval.
2. Mr. Jigneshkumar B. Patel - Appointed as Chief Financial Officer, effective November 18, 2025.

Key Details of Appointments

Mr. Mukeshkumar B. Patel (Managing Director)

• Age: 47 years
• Experience: Approximately 22+ years in financial and marketing operations in the building material & Ceramic Industry
• Responsibilities: Overall business and commercial strategy, accounting, and financial operations

Mr. Kirankumar B. Patel (Whole Time Director)

• Age: 40 years
• Experience: Over 15+ years in sales and marketing operations in the manufacturing industry
• Responsibilities: Sales and Distribution process, human resources department

Mr. Dineshkumar R. Patel (Whole Time Director)

• Age: 55 years
• Experience: 25+ years in production activities and process streamlining
• Responsibilities: Production and administrative operations at the Talod manufacturing facility

Mr. Miten Majmundar (Independent Director)

• Qualifications: Chartered Accountant (May 2005 batch)
• Experience: Over 18 years in Corporate Banking, specializing in MSME and Corporate Banking Verticals
• Current Role: Consultant for corporate banking requirements and founder of ProAssess Intelli

Mr. Jigneshkumar B. Patel (Chief Financial Officer)

• Qualifications: Chartered Accountant
• Experience: Over 12 years in Finance, Accounts, Taxation, and Auditing
• Previous Role: Deputy Manager (Finance & Accounts) at Asian Granito India Limited

Implications for Exxaro Tiles

These leadership changes are expected to bring a blend of continuity and fresh perspectives to Exxaro Tiles' management. The re-appointment of long-serving directors ensures stability in the company's strategic direction, while the addition of new expertise in finance and corporate governance may help drive future growth and operational efficiency.

The appointment of Mr. Miten Majmundar as an Independent Director is likely to enhance the Board's oversight capabilities, particularly in areas of corporate finance and banking relationships. Meanwhile, the induction of Mr. Jigneshkumar B. Patel as CFO brings in-depth financial expertise that could strengthen the company's financial management and reporting processes.

As Exxaro Tiles navigates the competitive landscape of the building materials industry, this restructured leadership team is positioned to guide the company through its next phase of development and market challenges.

Exxaro Tiles has seen a significant change in its ownership structure as Deep Diamond India Limited acquired a substantial stake in the company through open market purchases. Between October 16 and November 11, 2025, Deep Diamond India acquired 2,62,72,073 equity shares of Exxaro Tiles, resulting in a total shareholding of 5.87% of Exxaro Tiles' issued share capital.

Key Details of the Acquisition

Regulatory Compliance

In line with the Securities and Exchange Board of India (SEBI) regulations on substantial acquisitions, Deep Diamond India Limited has disclosed this transaction to the relevant stock exchanges and Exxaro Tiles. This adherence to regulatory requirements ensures transparency in the market regarding significant changes in shareholding patterns.

Market Implications

This substantial acquisition by Deep Diamond India Limited may be of interest to market participants and stakeholders of both companies. Such significant stake purchases often signal confidence in the target company's potential or align with broader business strategies of the acquiring firm.

Investors and market analysts may want to monitor any potential future developments or announcements from either company that could provide more context to this transaction.