Kiri Industries Limited has announced a key board appointment at its unlisted material subsidiary, strengthening corporate governance structures in compliance with regulatory requirements. The company informed stock exchanges about the appointment of an Independent Director at Indo Asia Copper Limited (IACL) on March 02, 2026.

Director Appointment Details

The Board of Directors of Indo Asia Copper Limited approved the appointment of Mr. Nanubhai Kathiria (DIN: 00319037) as an Additional Director in the capacity of Non-Executive Independent Director. The appointment is effective from March 02, 2026, and is subject to approval by IACL shareholders.

Regulatory Compliance

This appointment ensures compliance with Regulation 24 of the SEBI Listing Regulations, which mandates that at least one Independent Director from the holding listed entity's board must be appointed as an Independent Director on the board of unlisted material subsidiaries. The company has confirmed that Mr. Kathiria meets all independence criteria as prescribed under the Companies Act, 2013.

Based on declarations received and compliance with BSE and NSE circulars dated June 20, 2018, the Board of IACL has verified that Mr. Kathiria is not debarred from holding directorship by any SEBI order or other regulatory authority.

Professional Background

Mr. Nanubhai Kathiria brings extensive expertise to his new role with a distinguished career spanning multiple domains:

• Qualification: Fellow Member of the Institute of Company Secretaries of India
• Education: Bachelor's degree in Commerce and Legislative Law
• Total Experience: Over 38 years in corporate and legal fields
• Practice Duration: 28 years in independent practice

Areas of Expertise

• Company Law and Corporate Laws
• Amalgamations and Mergers
• Secretarial Audit
• Initial Public Offerings (IPOs)
• Intellectual Property Rights
• Project Management

Corporate Structure

The appointment reinforces the governance framework between Kiri Industries Limited and its material subsidiary Indo Asia Copper Limited. Mr. Kathiria is not related to any existing directors on the IACL board, ensuring independence in his oversight role.

This strategic appointment demonstrates Kiri Industries' commitment to maintaining robust corporate governance standards across its subsidiary operations while ensuring full regulatory compliance with SEBI requirements for listed entities and their material subsidiaries.

Kiri Industries Limited has submitted a comprehensive postal ballot notice to stock exchanges for seeking shareholder approval on critical management re-appointments through electronic voting. The company filed the notice dated February 10, 2026, with BSE Limited and National Stock Exchange of India Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

E-voting Schedule and Process

The remote e-voting facility will be available to eligible shareholders during a specific timeframe to ensure proper governance procedures.

The postal ballot notice is being sent to eligible shareholders through electronic mode only, in compliance with MCA circulars. The notice is also available on the company's website at www.kiriindustries.com .

Key Management Re-appointments

The postal ballot seeks approval for three critical management positions with specific remuneration packages and tenure details.

Chairman & Managing Director Re-appointment

The company proposes to re-appoint Mr. Manish Kiri (DIN: 00198284) as Chairman & Managing Director for a three-year term from April 01, 2026 to March 31, 2029.

Mr. Manish Kiri holds a Bachelor's degree in Engineering (Electronics & Communication) from Gujarat University and a Master's degree in Business Management from Wayne State University, USA. He was conferred the Outstanding Entrepreneur award by the Ahmedabad Management Association in 2011 and serves as Chairman of the Gujarat Council - Chemical Committee of ASSOCHAM.

Whole Time Directors Re-appointments

Two Whole Time Directors are proposed for re-appointment with identical compensation structures.

Mr. Girish Tandel (DIN: 08421333) - Re-appointment for three years from February 11, 2026 to February 10, 2029:

Mr. Yagnesh Mankad (DIN: 03204060) - Re-appointment for three years from February 11, 2026 to February 10, 2029:

Company Performance Context

The explanatory statement reveals significant financial improvements in FY 2024-25. Despite global chemical industry challenges, the company achieved 4% year-on-year revenue growth driven by higher sales volumes. Standalone EBITDA turned positive at Rs. 6,155.67 lakh, recovering from a loss of Rs. 2,673.41 lakh in FY 2023-24. The EBITDA margin improved by 1208 basis points to 8%, while Profit After Tax stood at Rs. 384.37 lakh compared to previous year losses.

Voting Instructions and Shareholder Information

Shareholders can access the e-voting facility through CDSL's platform at www.evotingindia.com . The company has appointed RTBR & Associates as the scrutinizer to conduct the postal ballot process transparently. Results will be communicated to stock exchanges and displayed on the company's website within two working days of the e-voting period's conclusion.

For technical support, shareholders can contact CDSL helpdesk at helpdesk.evoting@cdslindia.com or the company's registrar Cameo Corporate Services Limited. The company secretary Suresh Gondalia can be reached at investor@kiriindustries.com for any clarifications regarding the postal ballot process.