Kalyan Jewellers India Limited has strengthened its board governance by appointing two seasoned professionals as Additional Directors (Non-Executive & Independent). The appointments of Ms. Radhika Ramani and Mr. C.R Rajagopal were announced on January 14, 2026, following recommendations from the Nomination & Remuneration Committee.

Board Appointments and Terms

The Board of Directors approved both appointments through resolutions passed by circulation on January 14, 2026. The appointments are structured as follows:

The company will seek member approval for these appointments within the prescribed period as per the Companies Act, 2013 and SEBI Listing Regulations.

Ms. Radhika Ramani's Professional Background

Ms. Radhika Ramani (DIN: 11224935) brings over 25 years of global experience as a media and communications leader. Her expertise encompasses:

• Global Experience: On-the-ground experience in the UK, Singapore, and India
• Specialization Areas: Media strategy, communication planning, search, social, programmatic and e-commerce
• Leadership Style: People-centric and collaborative approach with expertise in transformation initiatives
• Previous Role: Managing Partner (South) at Motivator, a media agency within the GroupM network
• Current Position: Global Head of Growth Operations at Dentsu, UK

Her educational qualifications include a Master's in Data Science from Deakin University and an MBA from the Goa Institute of Management. She has demonstrated expertise in building specialist investment teams, managing agency P&Ls, and scaling multi-market advertising mandates.

Mr. C.R Rajagopal's Professional Profile

Mr. C.R Rajagopal (DIN: 08853688) is a Chartered Accountant with extensive experience spanning more than 35 years since his qualification in 1984. His professional journey includes:

• Early Career: Involved in designing integrated ERP systems and IT Security during the industry's nascent stage
• Professional Practice: Partner with a member firm of Big Four Network (Deloitte Haskins & Sells LLP)
• Current Vision: "Entrepreneur to Enterprise" - supporting large family businesses in building sustainability and value
• Industry Experience: Retail, Fashion, Automotive component manufacturing, Mining, Agriculture, Plantations and Textile Industries

Regulatory Compliance and Independence

Both appointees meet the independence criteria and regulatory requirements:

• Neither Ms. Radhika Ramani nor Mr. C.R Rajagopal is related to any existing Director of the Company
• Both directors are not debarred from holding office by virtue of any SEBI order or other regulatory authority
• The appointments comply with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

The appointments reflect Kalyan Jewellers' commitment to strengthening board governance with experienced independent directors who bring diverse expertise in media, communications, finance, and strategic business transformation.

FSN E-Commerce Ventures Limited (Nykaa) delivered strong performance in Q3 FY26, with consolidated Gross Merchandise Value (GMV) and Net Sales Value (NSV) growth expected to be in the late twenties. The robust performance reflects renewed growth in the Fashion vertical since the start of this financial year alongside consistent strong performance of the Beauty vertical.

Consolidated Performance Overview

Nykaa is expected to deliver consolidated Net Revenue growth in the upper end of mid-twenties, reflecting a slight acceleration from the mid-twenties growth maintained over the past several quarters. This performance demonstrates the company's ability to sustain momentum across its diversified business portfolio.

Beauty Vertical Achieves Record Performance

The Beauty vertical emerged as a standout performer, expected to deliver accelerated NSV growth of late twenties, marking the highest growth in the past 6 quarters. This stellar growth comes in a seasonally strong quarter, making it the largest quarter to date in terms of absolute scale.

The growth was broad-based across each of Nykaa's beauty businesses, with the outperformance of House of Nykaa brands, the success of Pink Friday sale, and robust new customer acquisition contributing to the superior performance.

Fashion Vertical Continues Revival Trajectory

The Fashion vertical is expected to continue its revived growth trajectory with NSV growth of mid-twenties in Q3 FY26. This performance was supported by strong performance of the core platform business, new brand additions, and robust customer acquisition.

Net revenue growth for the Fashion vertical is expected to be in late teens, lower than NSV growth primarily due to subdued content and marketing income and ongoing channel optimization of fashion owned brands.

Business Scale and Market Position

Nykaa continues to strengthen its market position, serving almost 49 million customers through its online platforms and 265 offline beauty destinations. The company's House of Nykaa represents its own consumer brands, including Nykaa Cosmetics, Dot & Key, Kay Beauty, and fashion labels such as Nykd by Nykaa, KICA, and 20 Dresses.