Menon Pistons Limited has announced significant changes to its board composition, with the completion of Mr. Shrikant Sambhoos' tenure as Independent Director and the formal appointment of Col. Basavaraj K Kullolli as his replacement under Regulation 30 of SEBI (LODR) Regulations, 2015.

Director Transition Details

Mr. Shrikant Sambhoos (DIN: 08716109) completed his second term of three consecutive years as an Independent Director on March 10, 2026, ceasing to hold office from the closure of business hours on that date. The company has expressed appreciation for his valuable contribution and guidance during his association with the organization.

New Appointment: Col. Basavaraj K Kullolli

Col. Basavaraj K Kullolli has been appointed as Additional Director in the Non-Executive Independent Director category, effective March 9, 2026. The appointment follows the board meeting outcome dated January 28, 2026, and ensures compliance with listing regulations regarding board composition.

Professional Background: Col. Kullolli brings over 30 years of leadership experience in large, complex organizations with expertise in operational command, enterprise administration, procurement, and policy oversight. His qualifications include:

• Master of Business Administration (Finance & HR)
• Master of Science – Defense & Strategic Studies
• Bachelor of Arts, Jawaharlal Nehru University
• Defense Services Staff Course, Wellington
• Qualified Helicopter Pilot, Army Aviation Corps

Board Committee Reconstitution

Following the director transition, the company has reconstituted its board committees effective March 9, 2026, to maintain compliance with regulatory requirements.

Updated Committee Structure:

Regulatory Compliance

The formal disclosure confirms that Col. Kullolli holds no shares in the company and has no relationships with other directors. He does not hold directorships or committee memberships in any other listed entities. The appointment is subject to shareholder approval via postal ballot and is not liable for retirement by rotation.

The transition ensures continuity in board governance while maintaining the required composition of independent directors as per SEBI regulations. Company Secretary Pramod Suresh Suryavanshi has digitally signed the regulatory disclosures confirming these changes.

Menon Pistons Limited has issued a comprehensive postal ballot notice dated February 18, 2026, seeking shareholder approval for several significant corporate governance matters that will shape the company's leadership and business operations for the coming years.

Key Leadership Appointments

The postal ballot seeks approval for critical leadership positions within the company. The re-appointment of Mr. Sachin Menon as Chairman & Managing Director stands as the primary proposal, alongside the induction of a new independent director.

Mr. Sachin Menon, aged 63 years, brings over 40 years of rich experience in the auto components industry. He holds a B.E. (Mechanical) degree and a Master's in Business Administration from the USA with a major in Finance. Under his leadership, the company has achieved its highest turnover and maintained reasonably good profits considering industry norms.

Material Related Party Transactions

A significant component of the postal ballot involves approval for material related party transactions with M/s. Menon Exports, a partnership firm where the Chairman & Managing Director and their relatives are partners.

These transactions represent 47.60% of the company's annual consolidated turnover for financial year 2024-25, which was Rs. 25,365.96 lakhs. The company has provided detailed justification for these transactions, citing business relationship advantages, reduced compliance burden for exports, access to established overseas markets, and locational advantages.

Historical Transaction Performance

The company has disclosed its transaction history with M/s. Menon Exports to provide context for the proposed arrangements.

Financial Performance Context

The company has provided key financial metrics to support the leadership re-appointment and transaction approvals.

Voting Process and Timeline

The postal ballot will be conducted entirely through electronic mode, with the notice sent to shareholders whose email addresses are registered with the company or depositories as of the cut-off date of February 13, 2026. The company has engaged MUFG Intime India Pvt. Ltd. (formerly Link Intime India Pvt. Ltd.) as the registrar to provide remote e-voting facilities.

Additional Corporate Matters

Beyond the key appointments and transactions, the postal ballot also seeks approval for alteration of the Articles of Association concerning the use of Common Seal, reflecting the company's commitment to updating its governance framework in line with current practices.

The comprehensive nature of this postal ballot demonstrates Menon Pistons Limited's focus on transparent governance while securing necessary approvals for its strategic business operations and leadership continuity in the automotive components sector.