Kajaria Ceramics Limited has made available the audio recording of its investor conference call held on December 22, 2025, which addressed the recent ₹200 crore fraud case at its subsidiary. The company uploaded the recording to its official website following the completion of the call that was organized to update stakeholders about the unexpected fraud event.

Conference Call Completion and Recording

The company has fulfilled its commitment to transparency by providing public access to the complete discussion held with investors. In its communication to stock exchanges, Kajaria Ceramics confirmed that the audio recording has been uploaded and can be accessed through their corporate website.

Fraud Case Overview

The fraud was committed by Mr. Dilip Kumar Maliwal, who served as the Chief Financial Officer of Kajaria Bathware Private Limited (KBPL), a wholly-owned subsidiary of Kajaria Ceramics. The fraudulent activities involved embezzlement and siphoning of funds over a period of two years.

Regulatory Compliance and Transparency

The company's approach demonstrates adherence to regulatory requirements under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The management's decision to make the complete audio recording publicly available reflects their commitment to maintaining transparency with all stakeholders during this challenging period.

Immediate Actions and Investigation

Following the discovery of the fraud, Kajaria Ceramics took swift corrective measures including filing a police complaint against the CFO and terminating Mr. Dilip Kumar Maliwal from the service of KBPL. The case remains under active police investigation as the company works toward recovery and strengthening internal controls.

Kajaria Ceramics Limited has announced a senior management change following the retirement of its Chief Operating Officer (Marketing), effective December 19, 2025. The company made this disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Senior Management Departure Details

Mr. Bhupendra G. Vyas, who served as COO (Marketing) and was part of the company's senior management team, has tendered his resignation as he opted for retirement. The company confirmed that he will be relieved from service with effect from the close of working hours on December 19, 2025.

Regulatory Compliance

The announcement was made in compliance with the provisions of Regulation 30 of the Listing Regulations, which requires listed companies to disclose material events and information that could impact investor decisions. Kajaria Ceramics has provided the necessary details regarding the retirement to both BSE Limited and The National Stock Exchange of India Limited.

Retirement Communication

While specific details of Mr. Vyas's communication were not provided, the company has confirmed his decision to retire from his position as Chief Operating Officer (Marketing). This transition marks the end of Mr. Vyas's association with the ceramic products company's marketing operations leadership.

Kajaria Ceramics continues to fulfill its regulatory obligations by disclosing this significant change in senior management, ensuring transparency for its stakeholders and the market at large.