Kovilpatti Lakshmi Roller Flour Mills Limited (KLRF) has announced the appointment of Mrs. Manian Kanikha as an Additional Director in the Non-Executive Independent category. The decision, made by the company's Board of Directors, marks a significant addition to KLRF's leadership team.

Key Appointment Details

Professional Background

Mrs. Kanikha brings a unique blend of expertise to KLRF:

• Education:
  • B.A. in Fashion Design from Raffles Institute, Singapore
  • Certification in Municipal Solid Waste Management from École Polytechnique Fédérale de Lausanne (EPFL)
• Experience: Over seven years in the waste management industry, specializing in biomedical and municipal waste
• Entrepreneurial Background: Second-generation entrepreneur and leader in waste management

Appointment Process and Governance

The appointment of Mrs. Kanikha was based on the recommendation of KLRF's Nomination and Remuneration Committee. The Board has confirmed that she is not debarred from holding the office of Director by any order of SEBI or other statutory authorities.

Shareholder Approval Process

KLRF's Board has approved the initiation of a postal ballot process to seek shareholder approval for Mrs. Kanikha's appointment:

• Voting Method: Remote e-voting
• Resolution Type: Special resolution
• Purpose: To confirm the appointment of Mrs. Kanikha as an Independent Director

The company will send out a Postal Ballot Notice to shareholders, with details to be communicated to the stock exchange in due course.

Board Meeting Details

This strategic appointment aligns with KLRF's commitment to diversifying its board expertise. Mrs. Kanikha's background in waste management could potentially bring valuable insights to KLRF, particularly in areas of environmental sustainability and waste reduction in the flour milling industry.

As KLRF moves forward with this appointment, shareholders will play a crucial role in confirming Mrs. Kanikha's position through the upcoming postal ballot. The company's proactive approach in seeking shareholder approval underscores its commitment to transparent corporate governance practices.

Kovilpatti Lakshmi Roller Flour Mills Limited (KLRF) has announced a significant expansion plan for its Foods Division at Gangaikondan, Tirunelveli. The company's Board of Directors has approved a capital expenditure of up to Rs 45.00 crore for modernization and capacity expansion, marking a strategic move to meet growing demand.

Expansion Details

The ambitious project aims to increase the flour milling capacity of KLRF's Foods Division. Here are the key points of the expansion:

The decision to expand comes as the company is operating at near-full capacity, necessitating growth to meet market demand.

Financial Results and Corporate Updates

In addition to the expansion announcement, KLRF's Board meeting covered several other important matters:

1. Unaudited Financial Results: The company approved unaudited financial results for the quarter ended June 30. These results will be published in English and Tamil newspapers, with the full financial report available on the company's website.

2. Board Changes: Mrs. Kalyani Jagannathan will retire as a Non-Executive Independent Director, effective September 15, upon completion of her second tenure. The Board expressed gratitude for her contributions during her term.

3. Internal Auditor Appointment: M/s. Arun & Co., Chartered Accountants, has been appointed as Internal Auditors for the Foods division. This appointment follows the firm's transition from a sole proprietorship to a partnership.

Market Implications

The substantial capacity expansion reflects KLRF's confidence in the market's growth potential and its commitment to meeting increasing demand. This move is likely to strengthen the company's position in the flour milling industry and potentially lead to improved financial performance.

Investors and market analysts will be watching closely to see how this expansion impacts KLRF's market share and financial results in the medium to long term. The company's ability to execute this project efficiently and capitalize on the increased capacity will be crucial factors in determining its future success.

As KLRF embarks on this significant growth phase, stakeholders will be keen to monitor the progress of the expansion project and its impact on the company's operational and financial metrics in the quarters to come.