IFGL Refractories , a prominent player in the refractory industry, has announced a significant leadership change at its material subsidiary, EI Ceramics LLC (EIC). The company disclosed this information in a recent filing with the National Stock Exchange of India and BSE Limited.

Leadership Transition

Ian Proudfoot, who served as the President of EI Ceramics LLC, retired from his position effective August 31, 2025. Following this transition, Graham Carson, previously the Vice President (Sales) at EIC, has been promoted to the role of President, assuming his new responsibilities from September 1, 2025.

Continued Expertise

While stepping down from his role as President, Ian Proudfoot will continue to contribute his valuable experience to EIC. The company has announced that Proudfoot will serve as a Consultant for a period of six months, starting from September 1, 2025. This arrangement ensures a smooth transition and allows EIC to benefit from Proudfoot's industry knowledge during this period.

New Leadership Profile

Graham Carson, the newly appointed President of EIC, brings a wealth of experience to his new role. With over three decades of experience in the global refractory industry, Carson is well-positioned to lead EIC into its next phase of growth. His educational background includes an HNC in Mechanical and Production Engineering from Clydebank Technical College, Scotland, providing him with a strong technical foundation for his leadership role.

Company Statement

In its regulatory filing, IFGL Refractories stated, "Mr Graham Carson holds HNC in Mechanical and Production Engineering from Clydebank Technical College, Scotland and has experience of more than 3 decades in Refractory Industry worldwide." This statement underscores the company's confidence in Carson's ability to lead EIC effectively.

Regulatory Compliance

The company acknowledged a slight delay in filing this disclosure, stating it was inadvertent and expressing regret for the oversight. IFGL Refractories has assured that this information is being made available on the company's website for investors and stakeholders.

This leadership transition at EI Ceramics LLC marks a significant development for IFGL Refractories. As the company moves forward with its new leadership structure, industry observers will be keen to see how this change impacts the strategic direction and performance of both EIC and its parent company.

IFGL Refractories held its 18th Annual General Meeting (AGM) on August 27, 2025, where shareholders approved key decisions including dividend distribution and a new director appointment.

Dividend Approval

The company's shareholders approved a final dividend of 10% (Rs 1.00 per equity share) for the financial year 2024-25. This comes in addition to the interim dividend of 60% (Rs 6.00 per equity share) that has already been paid out. The total dividend for the year stands at 70% (Rs 7.00 per equity share).

Key details of the dividend payout are as follows:

Shareholders whose names appear on the company's register of members as of the record date will be eligible for the final dividend.

New Director Appointment

In a significant board change, the AGM saw the appointment of Mr. Mihir Prakash Bajoria as a Non-Executive Non-Independent Director of the company. Mr. Bajoria's appointment is effective from August 27, 2025, and he will be liable to retire by rotation.

Key points about Mr. Mihir Prakash Bajoria:

• Age: Approximately 40 years old
• Education: Holds a diploma in Politics and International Relations from Oxford Brookes University
• Experience: Over a decade in the refractory industry
• Current roles:
  • Executive Chairman of IFGL's UK subsidiary, Monocon International Refractories Limited
  • Non-executive Director of several step-down subsidiaries
• Family connection: Son of Mr. Shishir Kumar Bajoria, the Executive Chairman of IFGL Refractories

The company confirmed that Mr. Bajoria is not debarred from holding the office of Director by any order of the Securities Exchange Board of India or any other statutory authority.

Other AGM Proceedings

The AGM, conducted through video conferencing, also addressed the following matters:

1. Adoption of standalone and consolidated audited financial statements for the year ended March 31, 2025
2. Re-appointment of Mr. Shishir Kumar Bajoria as a Director
3. Appointment of Secretarial Auditors for a term of five years
4. Ratification of remuneration for Cost Auditors for FY 2025-26

The meeting concluded with an overview of the company's performance for FY 2024-25, presented by Mr. Arasu Shanmugam, Director and Chief Executive Officer India of IFGL Refractories.

IFGL Refractories, with its registered office in Odisha and corporate office in Kolkata, continues to strengthen its position in the refractory industry with these strategic decisions and governance updates.