Manali Petrochemicals Limited (MPL), a prominent player in the petrochemical industry, has announced significant changes to its leadership team, effective October 3, 2025. The company's Board of Directors approved these changes based on recommendations from the Nomination & Remuneration Committee and Audit Committee.

New Chief Financial Officer Appointed

Ms. Srishti M Bathija has been appointed as the new Chief Financial Officer for the MPL Group. Bathija, a Chartered Accountant and CFA Level I, brings over a decade of experience in strategic finance, mergers and acquisitions (M&A), and business transformation to her new role.

Prior to joining MPL, Bathija served as the Chief Financial Officer and Director at TIMAC Agro India Private Limited, a subsidiary of Groupe Roullier (France). Her impressive career includes stints with prestigious organizations such as PricewaterhouseCoopers, Goldman Sachs, and Deloitte.

Bathija's expertise spans various areas, including:

• Leading core finance, treasury, risk, compliance, and legal functions
• Building and scaling finance teams
• Implementing robust controls and automation
• Driving operational efficiencies
• Managing M&A transactions and business integration

Outgoing CFO Transitions to New Role

Ms. K Lalitha, the outgoing Chief Financial Officer, has resigned from her position effective October 3, 2025. Lalitha will continue to serve the company in a non-Key Managerial Personnel (KMP) finance role, ensuring a smooth transition of responsibilities.

In her resignation letter, Lalitha expressed gratitude for the opportunities provided during her tenure as CFO and committed to facilitating a seamless handover process.

New Independent Director Appointed

In another significant move, MPL has appointed Mr. Anand Raghavan as a Non-executive Independent Director for a five-year term, subject to shareholder approval through a postal ballot.

Raghavan brings 39 years of experience in the financial sector to the MPL board. His impressive background includes:

• A bachelor's degree in commerce from the University of Madras
• Chartered Accountant qualification
• Previous partnership at Ernst & Young
• Former Vice President of Corporate Affairs at Sundaram Finance Limited
• Member of the RBI's Committee on Functioning of Asset Reconstruction Companies
• Member of the Committee for Revival of MSMEs in Tamil Nadu

Corporate Governance and Compliance

MPL has confirmed that neither Ms. Bathija nor Mr. Raghavan is related to any of the company's directors. Additionally, the company has verified that Mr. Raghavan is not debarred from holding the office of director by any SEBI order or other authority, in compliance with stock exchange requirements.

These strategic appointments and changes in Manali Petrochemicals' leadership team are expected to bring fresh perspectives and expertise to the company, potentially driving growth and operational excellence in the coming years.

Manali Petrochemicals Limited (MPL), a leading petrochemical company, has achieved a significant milestone in its commitment to quality and regulatory compliance. The company has been granted Certification Marks Licences by the Bureau of Indian Standards (BIS) for its polyether polyols and polyester polyols products.

BIS Certification: A Mark of Quality

The BIS certification, valid for one year, underscores MPL's dedication to maintaining high standards in its manufacturing processes. This achievement is particularly noteworthy in the petrochemical industry, where quality and safety are paramount.

Implications for Manali Petrochemicals

The newly acquired BIS certification brings several benefits to Manali Petrochemicals:

1. Enhanced Customer Trust: The certification serves as a testament to the company's commitment to quality, potentially strengthening customer confidence in MPL's products.

2. Regulatory Compliance: By meeting BIS standards, MPL demonstrates its adherence to stringent regulatory requirements in the petrochemical sector.

3. Good Manufacturing Practices (GMP): The certification reflects MPL's continued commitment to following GMP, ensuring consistent product quality.

4. Support for 'Make in India': This achievement aligns with and reinforces MPL's support for the 'Make in India' initiative, promoting domestic manufacturing excellence.

Industry Impact

The BIS certification for polyether and polyester polyols is significant for the broader petrochemical industry. These compounds are crucial in various applications, including the production of foams, coatings, adhesives, and elastomers. MPL's certification may set a benchmark for quality in the sector, potentially influencing industry standards.

Company's Statement

In a communication to the stock exchanges, Manali Petrochemicals stated, "The grant of these BIS IS Licences marks a significant milestone, reaffirming our commitment to the highest standards of quality, safety, and regulatory compliance for our products and processes."

While this development is not mandatory to report under SEBI Listing Regulations, 2015, MPL chose to disclose it in the interest of good corporate governance and transparency, further highlighting the company's commitment to open communication with its stakeholders.

As Manali Petrochemicals continues to strengthen its position in the petrochemical industry, this BIS certification marks an important step in its journey towards excellence and quality assurance in manufacturing.