Honeywell Automation India Limited (HAIL) has announced changes to its board of directors, effective November 5, 2025. The company has appointed Jake Morgan Wasserman as an Additional Non-Executive Non-Independent Director, while Pedro Thena Garrote has resigned from his position on the board.

New Appointment

Jake Morgan Wasserman (DIN: 11364789) joins HAIL's board as an Additional Non-Executive Non-Independent Director. His appointment is subject to shareholder approval, as required by Regulation 17(1C) of the SEBI Listing Regulations.

Wasserman brings experience to the role:

• Currently serves as Vice President and General Counsel for Mergers & Acquisitions at Honeywell
• Holds a Juris Doctorate from Duke University School of Law
• Possesses expertise in corporate governance, strategic transactions, and regulatory compliance
• Known for his pragmatic, business-oriented approach to legal strategy

Board Resignation

Pedro Thena Garrote (DIN: 10741347) has stepped down from his position as a Non-Executive Non-Independent Director. Garrote's resignation, effective November 5, 2025, comes as he pursues career opportunities outside of Honeywell.

In his resignation letter, Garrote expressed gratitude to the board members and management team for their support during his tenure. The board has acknowledged his contributions and placed on record its appreciation for his service to the company.

Company Statement

HAIL's board of directors approved these changes during its meeting on November 5, 2025. The company has confirmed that Wasserman is not debarred from holding the office of director by virtue of any SEBI Order or any other such authority.

These board changes come alongside the release of HAIL's unaudited financial results for the second quarter and half-year ended September 30, 2025. The company continues to operate in the "Automation & Control Systems" segment, as per Indian Accounting Standard (Ind AS) 108.

Honeywell Automation India Limited (HAIL) has released its financial results for the second quarter ended September 30, showing a mixed performance with revenue growth but a decline in profit.

Financial Highlights

HAIL reported total income of ₹14,936.00 million for Q2, marking a significant 22.00% increase from ₹12,240.00 million in the same quarter last year. However, the company's net profit saw a decline of 11.50%, decreasing to ₹1,195.00 million from ₹1,351.00 million year-over-year.

Half-Year Performance

For the first half of the fiscal year, HAIL's profit stood at ₹2,441.00 million, compared to ₹2,516.00 million in the same period last year, indicating a slight decrease in profitability.

Financial Position

The company maintains a strong financial position with cash and cash equivalents of ₹30,613.00 million as of September 30.

Board Changes

HAIL announced changes to its Board of Directors:

• Mr. Pedro Thena Garrote has resigned from his position as a Non-Executive Non-Independent Director, effective November 5.
• Mr. Jake Morgan Wasserman has been appointed as an Additional Non-Executive Non-Independent Director, also effective from November 5.

Board Meeting Details

The Board meeting where these results were approved and changes announced was held on November 5, from 2:00 p.m. to 3:45 p.m. IST.

Outlook

While Honeywell Automation India Limited has shown substantial revenue growth, the decline in net profit may require attention. The company's strong cash position suggests a stable foundation for its operations in the automation and control systems market in India.