IRM Energy Limited has announced the resignation of its Chief Financial Officer (CFO), Mr. Harshal Anjaria, effective from the close of business hours on October 17, 2025. The company disclosed this information in a regulatory filing to the National Stock Exchange of India Limited and BSE Limited on October 18, 2025.

Resignation Details

Mr. Anjaria, who had been with the company since July 11, 2016, cited personal reasons for his departure in his resignation letter dated March 31, 2025. The company had previously issued intimations regarding this resignation on May 22, 2025, and June 30, 2025.

Key Information

Transition Process

In his resignation letter, Mr. Anjaria expressed his commitment to ensuring a smooth transition of his responsibilities. He stated, "During my remaining time, I am committed to ensuring a smooth transition and seamless handover of my responsibilities. I will continue to extend my full cooperation to facilitate the continued efficiency of the Company's financial operations."

Company's Response

IRM Energy Limited acknowledged Mr. Anjaria's contributions during his tenure, particularly noting his involvement with the company since its formative years. The company has not yet announced a successor for the CFO position.

This development marks a significant change in the top management of IRM Energy Limited. The impact of this transition on the company's financial strategies and operations remains to be seen as the company moves forward with its succession planning.

IRM Energy Limited has strengthened its position in the polymer manufacturing sector by increasing its stake in Venuka Polymers Private Limited (VPPL) from 33.33% to 50%. This strategic move was executed through a rights issue, with IRM Energy acquiring an additional 10,50,800 equity shares for Rs. 1.05 crores.

Transaction Details

The transaction was conducted on an arm's length basis, with no involvement from IRM Energy's promoter group. The details of the acquisition are as follows:

About Venuka Polymers

Venuka Polymers Private Limited, incorporated on December 19, 2019, operates in the manufacturing and distribution of irrigation systems and various polymer products. The company's product line includes:

• Micro-irrigation systems
• PVC/MDPE/HDPE/LDPE/LLDPE/PP pipes
• Tubes, hoses, and fittings

VPPL has demonstrated consistent growth over the past three years, as evidenced by its turnover figures:

Strategic Implications

This investment aligns with IRM Energy's strategy to strengthen its position in the polymer manufacturing sector. By increasing its stake to 50%, IRM Energy has reinforced its association with VPPL, potentially allowing for greater influence in the company's operations and strategic decisions.

The polymer industry, particularly in the irrigation and piping sectors, has shown robust growth in recent years. This move by IRM Energy could be seen as a vote of confidence in VPPL's business model and future prospects.

As the transaction was carried out through a rights issue at a price determined by VPPL's board and offered uniformly to all shareholders, it underscores the fairness and transparency of the deal.

IRM Energy's decision to increase its stake in VPPL to 50% suggests a long-term commitment to the associate company and confidence in its growth trajectory. As VPPL continues to expand its operations, this increased investment could potentially yield significant returns for IRM Energy in the coming years.