Gujarat Raffia Industries Limited has made significant changes to its leadership team, appointing a new Company Secretary and elevating a director to a key executive role. These strategic moves, approved by the company's Board of Directors on November 6, 2025, aim to strengthen the company's management structure.

New Company Secretary Appointment

Mr. Rishi Jaithlia has been appointed as the Company Secretary and Compliance Officer, effective immediately. Jaithlia brings a strong professional background to the role:

Director's Role Expansion

In a separate move, the Board has approved a change in designation for Mr. Abhishek Bhutoria:

Mr. Bhutoria's appointment is subject to ratification at the next General Meeting. His association with Gujarat Raffia Industries dates back to September 2015, and he brings extensive experience in finance, accounts, and business management to his new role.

Leadership Background

Abhishek Bhutoria's educational background includes:

• Master's degree in Business Administration from California State University, USA

It's worth noting that Mr. Bhutoria has familial ties to the company's top management:

• Son of Mr. Pradeep Bhutoria (Managing Director)
• Son of Ms. Sushma Bhutoria (Whole Time Director)

These appointments reflect Gujarat Raffia Industries' efforts to bolster its leadership team with experienced professionals. The company appears to be positioning itself for potential growth and improved corporate governance with these strategic changes in key positions.

Gujarat Raffia Industries Limited (GRIL) has announced significant changes in its key management positions, as disclosed in a recent filing with the stock exchanges.

CFO Resignation

Mr. Gopesh Nileshbhai Patel has resigned from his position as Chief Financial Officer (CFO) and Key Managerial Personnel of Gujarat Raffia Industries Limited. The resignation will take effect from August 1, 2025. The company's Board of Directors formally accepted Mr. Patel's resignation during their meeting held on August 7, 2025.

New Internal Auditor Appointment

In a strategic move to strengthen its internal controls, GRIL has appointed Mr. Avinash Appasaheb Salunke as the company's new Internal Auditor. Mr. Salunke's appointment is effective from August 7, 2025, and he will commence his duties from the second quarter of the financial year 2025-26.

About Avinash Appasaheb Salunke

Mr. Salunke brings a wealth of experience to his new role at Gujarat Raffia Industries Limited:

• Approximately 7 years of corporate experience as Chief Finance Officer and Compliance Officer
• Holds a Master's degree in Commerce
• Expertise in financial analysis, strategic thinking, and leadership skills
• Strong understanding of accounting principles and financial modeling
• Proven ability to develop and implement long-term financial strategies
• Excellent leadership and communication skills for effective team management and stakeholder communication

Board Meeting Details

The changes were approved during a Board of Directors meeting held on August 7, 2025:

These management changes come as Gujarat Raffia Industries Limited continues to evolve its leadership team. The appointment of Mr. Salunke as Internal Auditor is expected to contribute to the company's financial oversight and strategic decision-making processes.

Gujarat Raffia Industries Limited continues to operate from its head office at C-401, Titainum Square, Near Thaltej Cross Road, Ahmedabad 380 054, India.