Finolex Industries Limited has strengthened its senior management team with the appointment of Mr. Shirish Panke as Head-Human Resources and Senior Management Personnel, effective December 11, 2025. The appointment was approved by the Board of Directors through a Circular Resolution passed on December 11, 2025, based on the recommendation of the Nomination and Remuneration Committee.

Key Appointment Details

The following table summarizes the key details of Mr. Panke's appointment:

Professional Background and Expertise

Mr. Shirish Panke brings 29 years of seasoned experience as a Strategic HR Leader in corporate HR, employee relations, and global people management. His extensive career spans across leading manufacturing organizations including Garware Fulflex, Crane Process Flow Technologies, Divgi Warner, Tata Visteon Automotive, Grindwell Norton, Hindustan Unilever, Rallis India, and PepsiCo India.

Core Competencies

Mr. Panke's expertise encompasses several critical areas:

• HR strategy development and implementation
• Talent acquisition and leadership development
• M&A integration across multiple geographies
• Management of multi-plant operations
• HR digitalization and industrial relations
• Organizational transformation initiatives
• Leadership pipeline development

Global Experience and Achievements

Throughout his career, Mr. Panke has successfully driven HR initiatives across geographies including India, USA, and Europe. He has managed HR teams supporting over 1,200 employees globally and has independently led HR due diligence and post-merger integration for acquisitions in the USA and Europe, ensuring cross-cultural alignment and operational stability.

Leadership Development Initiatives

Mr. Panke has designed comprehensive leadership frameworks including:

• Leadership competency models
• Succession planning frameworks
• Performance management systems
• Strong leadership pipeline development programs

Professional Certifications

Mr. Panke holds certifications in Great Place to Work and social compliance standards like BSCI and SMETA. These certifications demonstrate his commitment to creating positive workplace environments and maintaining high compliance standards.

Regulatory Compliance

The appointment has been made in accordance with Regulation 30 read with Para A(7) of Part A of Schedule III and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also uploaded this information on its website at https://www.finolexpipes.com/investors/compliance-report/ for stakeholder access.

Finolex Industries , a leading player in the pipes and fittings sector, has delivered a stellar performance in the second quarter, showcasing significant growth across key financial metrics.

Financial Highlights

Finolex Industries has reported a remarkable surge in its net profit for the quarter, which more than doubled to ₹1.2 billion from ₹514.4 million in the same period last year, marking a substantial 133.3% increase.

The company's revenue saw a modest growth of 3.9%, rising to ₹8.6 billion compared to ₹8.28 billion in the corresponding quarter of the previous fiscal year.

Operational Performance

The most notable improvement was seen in the company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), which skyrocketed to ₹1.3 billion from ₹120 million year-over-year, representing an extraordinary growth of 983.3%.

This significant boost in EBITDA translated into a substantial expansion of the EBITDA margin, which climbed to 15.02% from 1.45% in the previous year, an increase of 1,357 basis points.

Market Implications

The robust financial performance of Finolex Industries may signal strong demand in the pipes and fittings sector, possibly driven by increased construction and infrastructure activities. The substantial improvement in profitability metrics suggests effective cost management and potentially favorable raw material prices during the quarter.

Investors and market analysts may view this performance as a positive indicator of the company's operational efficiency and its ability to capitalize on market opportunities. The significant margin expansion, in particular, could be seen as a sign of the company's pricing power and operational leverage.

As Finolex Industries continues to demonstrate strong financial health, it may be well-positioned to take advantage of growth opportunities in the infrastructure and real estate sectors, which are key drivers for the pipes and fittings industry.

Note: The financial figures mentioned are for the quarter ended September 30, 2025, as per the company's latest financial results.