Greenply Industries Limited has announced the resignation of Mr. Manish Bhatia, Executive Vice President - HR & Admin and Senior Management Personnel, effective from the close of business hours on January 19, 2026. The company filed the regulatory disclosure with BSE Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Details

Mr. Bhatia submitted his resignation letter on December 5, 2025, expressing his intention to avail opportunities outside the organization and craft the next phase of his professional journey. The resignation was processed in accordance with regulatory requirements, and the company has provided all necessary disclosures to the stock exchange.

Regulatory Compliance

The company has fulfilled its obligations under SEBI regulations by providing comprehensive details in Annexure-A, as required under SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The disclosure includes all pertinent information regarding the cessation of Mr. Bhatia's role as Senior Management Personnel.

Management Response

The management has acknowledged Mr. Bhatia's departure and expressed appreciation for his contributions during his tenure with the company. The resignation letter dated December 5, 2025, was enclosed with the regulatory filing to ensure complete transparency and compliance with listing requirements.

The company secretary Kaushal Kumar Agarwal signed the regulatory disclosure on January 21, 2026, confirming the completion of all necessary formalities related to the resignation process.

Greenply Industries Limited has received a tax demand order from the State Tax Officer in Ahmedabad concerning an Input Tax Credit (ITC) claim dispute for the financial year 2019-20. The company disclosed this development through a regulatory filing under SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015.

Tax Demand Details

The order, dated January 8, 2026, was issued by the State Tax Officer, Ghatak-10 (Ahmedabad), Range-3, Division-1, located at M.S Building (Apna Bazar), Laldarwaja, Ahmedabad, Gujarat. The demand pertains to alleged wrong ITC availed on ineligible ITC claims under the Central Goods and Services Tax Act, 2017.

The company received the order on January 8, 2026, at 6:25 PM and made the regulatory disclosure on January 9, 2026.

Company's Response and Position

Greenply Industries has expressed confidence in its position regarding the ITC claim dispute. The company stated that it has fulfilled all conditions prescribed under the relevant Acts with respect to the availment of Input Tax Credit. Management believes the company has a strong case based on merits and intends to challenge the order through appropriate legal channels.

The company plans to file rectification and/or appeal against the tax demand order within the prescribed timelines as per the applicable regulations. This approach indicates the company's intention to contest the allegations made by the tax authorities.

Financial Impact Assessment

According to the regulatory filing, Greenply Industries has assessed that there is no material impact on the financial, operational, or other activities of the company arising from this tax demand order. This assessment suggests that the company views the demand as contestable and does not expect it to significantly affect its business operations or financial performance.

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which requires listed companies to inform stock exchanges about material events and developments. The filing was signed by Kaushal Kumar Agarwal, Company Secretary and Vice President-Legal of Greenply Industries Limited.

The matter relates to tax compliance issues from FY 2019-20, indicating this is a retrospective assessment by the tax authorities. The company's decision to contest the order through legal remedies reflects its confidence in the legitimacy of its ITC claims for that financial year.