Indo National Ltd has announced the resignation of its Chief Marketing Officer, marking a significant leadership change at the Chennai-based company. The announcement was made through official communication to stock exchanges on March 3, 2026.

Leadership Transition Details

Mr. Shardul Bist has stepped down from his role as Chief Marketing Officer, with his resignation taking effect from March 31, 2026. The company cited personal reasons as the basis for his departure in its regulatory filing.

Regulatory Compliance

The company fulfilled its disclosure obligations under Regulation 30 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirement) Regulations, 2015. The notification was sent to both the National Stock Exchange of India Limited and BSE Limited, ensuring compliance with listing requirements.

Executive's Farewell Message

In his resignation communication, Bist reflected on his tenure and contributions to the organization. He highlighted several key achievements during his leadership of the marketing function:

• Strengthened the brand positioning
• Drove growth initiatives across business segments
• Built marketing capabilities for future organizational growth
• Positioned the company well for its next phase of development

Transition Planning

Bist committed to ensuring organizational continuity during the leadership transition. His transition support includes:

• Comprehensive knowledge transfer to leadership team
• Assistance with succession planning processes
• Ensuring continuity of ongoing strategic marketing initiatives
• Supporting the organization through the coming weeks

The company has indicated that the transition process will be managed to minimize any operational disruption while maintaining momentum on current marketing strategies and brand development initiatives.

Indo National Limited has successfully acquired a controlling stake in Medcuore Medical Solutions Private Ltd (MMSPL) through a strategic investment of ₹6.94 crores. The acquisition, completed through equity share subscription, gives Indo National a 54.79% shareholding in MMSPL on a fully diluted basis, effectively making it a subsidiary.

Investment Details

The company disclosed the investment details in its regulatory filing dated January 22, 2026, pursuant to Regulation 30 of SEBI LODR requirements. The acquisition involved purchasing 7,551 equity shares at a price of ₹9,187.00 per share, determined based on a valuation report issued by a registered valuer.

Target Company Profile

Medcuore Medical Solutions Private Ltd, incorporated on June 7, 2020, operates in the manufacturing, distribution, and servicing of air monitoring systems and air purifiers. The company has shown varying revenue performance over the past three years, with operations concentrated in India.

Financial Performance Overview

Strategic Rationale

Indo National stated that the acquisition aims to facilitate business growth, generate revenue, and earn profits through business expansion. The move represents a diversification into the air monitoring and purification sector, which falls outside the company's main line of business. The acquisition is structured as a non-related party transaction, with no promoter or group company interests in the target entity.

Regulatory and Timeline Aspects

The acquisition requires no additional governmental or regulatory approvals beyond standard compliance requirements. Indo National has indicated an indicative completion timeframe extending up to FY 2027-28 for the full acquisition process. The transaction was conducted at arm's length with proper valuation procedures followed as per regulatory guidelines.

This strategic acquisition positions Indo National to expand its business portfolio into the growing air quality monitoring and purification market while maintaining compliance with all applicable securities regulations and disclosure requirements.