Mohite Industries Limited has announced significant changes to its Board of Directors composition, with one Independent Director resigning and a new appointment being made on March 9, 2026.

Director Resignation Details

Annasaheb Dhondiba More (DIN-08861721) has tendered his resignation as Independent Director of the company with effect from the close of business hours on March 9, 2026. The resignation was submitted due to personal and unavoidable circumstances that require his immediate attention and time.

In his resignation letter, More confirmed that there are no disagreements with the Board of Directors or management on any matter relating to the company's operations, policies, or practices. He expressed gratitude to the Board and management for their cooperation and support during his tenure.

New Director Appointment

On the recommendation of the Nomination and Remuneration Committee, the Board of Directors approved the appointment of Sangramsinh Subhashrao Nimbalkar (DIN: 00508548) as Additional Independent Director. The appointment is effective from March 9, 2026, for a period of five consecutive years, subject to shareholder approval.

New Director's Profile

Sangramsinh Subhashrao Nimbalkar brings extensive experience to the Board. Key aspects of his background include:

• Education: Diploma in Civil Engineering
• Experience: Over 30 years as a successful businessman in government and semi-government industrial construction work
• Specialization: Sugar factory projects and building construction activities
• Independence: Not related to any Directors or Key Managerial Personnel of the company

Regulatory Compliance

The company has confirmed compliance with SEBI regulations, stating that Nimbalkar has not been debarred from holding the office of Director by virtue of any order issued by SEBI or other authorities. The disclosure has been made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The intimation and related disclosures will be made available on the company's website at mohite.com, ensuring transparency and regulatory compliance in the Board transition process.

Mohite Industries Limited has successfully concluded its board meeting held on January 14, 2026, with the approval of a significant fund raising proposal through Non-Convertible Debentures (NCDs). The board meeting, which was previously scheduled and intimated to BSE Limited on January 7, 2026, commenced at 3:00 PM and concluded at 4:30 PM.

NCD Issuance Structure

The board has approved the issuance of 1,500 INR denominated, unrated, unlisted, secured, redeemable and transferable Non-Convertible Debentures on a private placement basis. The comprehensive details of the approved NCD structure are presented below:

Tenure and Payment Structure

The NCDs will be issued in single or multiple series with a flexible maturity period ranging from 30 months to 144 months. The payment structure ensures systematic debt servicing with equated half yearly payouts:

Security and Collateral Framework

The NCDs will be secured against multiple assets of the company, providing comprehensive security to investors. The collateral includes factory buildings, land, godown facilities, power house construction, and plant & machinery located across various sites in Kolhapur district, Maharashtra:

Regulatory Compliance

The announcement has been made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and related SEBI circulars including Master Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. The communication was authorized by Shivaji Ramchandra Mohite, Managing Director (DIN-00425441), with proper digital signature authentication.

Strategic Financial Management

The NCD issuance represents the company's strategic approach to debt refinancing and capital structure optimization. The private placement structure allows for flexible deployment of funds while maintaining unlisted status, providing the company with efficient access to debt capital markets.