National Fertilizers Limited (NFL), a Government of India undertaking, has announced significant changes to its Board of Directors. The company has appointed Shri Megh Nath Goyal as the new Director (Technical), effective November 5, 2025. This appointment comes as part of NFL's ongoing efforts to strengthen its leadership team and drive operational excellence in the fertilizer sector.

Key Highlights of the Appointment

Professional Background

Shri Megh Nath Goyal brings a wealth of experience to his new role:

• Education: Mechanical Engineer with a Master's degree in Engineering (Mechanical) from University of Roorkee
• Experience: 33 years in the fertilizer industry
• Expertise: Process plant maintenance, process management, and project execution
• Notable Achievements: Instrumental in driving operational excellence and initiating diversification projects in the fertilizer sector

Board Changes

As part of this transition, the following changes have occurred:

1. Appointment: Shri Megh Nath Goyal appointed as Director (Technical)
2. Cessation: Ms. Ritu Goswami ceased from her position as Director (Technical) - Additional Charge on November 5, 2025

These changes were made in accordance with orders issued by the Department of Fertilizers, Ministry of Chemicals & Fertilizers, Government of India.

Implications for NFL

The appointment of Shri Megh Nath Goyal as Director (Technical) is expected to bring fresh perspectives to NFL's technical operations. His extensive experience in process management and project execution across various NFL plants positions him well to contribute to the company's ongoing efforts in operational excellence and potential diversification initiatives.

NFL, as a Navratna company, plays a crucial role in India's fertilizer sector. The board changes reflect the company's commitment to maintaining strong leadership in its technical operations, which are vital for efficient production and distribution of fertilizers across the country.

As the fertilizer industry continues to evolve with new technologies and environmental considerations, Shri Goyal's expertise may prove invaluable in navigating these challenges and opportunities.

Investors and stakeholders will likely be watching closely to see how these leadership changes may influence NFL's strategic direction and operational performance in the coming years.

National Fertilizers Limited (NFL), a government-owned company, has received a significant tax demand notice from the Karnataka state tax authorities. The notice, issued by the Office of the Deputy Commissioner of Commercial Taxes (Audit-1) in Vijayapur, Karnataka, calls for the payment of ₹15.23 crores in commercial taxes.

Key Details of the Tax Demand

Nature of the Demand

The tax demand is based on an order under Sections 73(9) and 50 of the Integrated Goods and Services Tax (IGST)/Central Goods and Services Tax (CGST)/Karnataka Goods and Services Tax (KGST) Act, 2017, read with Rule 142(5) of the corresponding Rules. The notice specifically targets NFL's operations in Bengaluru, identified by the GSTN No. 29AAACN0189N1ZO.

Company's Response

National Fertilizers Limited has stated that it has not received any personal hearing notice from the tax department regarding this matter. The company maintains that there is no material impact on its financial and operational activities as a result of this order.

NFL is currently reviewing the tax demand order and plans to exercise its right to file an appeal before the Commissioner Appeals. This step indicates that the company may contest the tax demand, potentially leading to further legal proceedings.

Disclosure and Compliance

In compliance with regulatory requirements, NFL has promptly disclosed this information to the stock exchanges. The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This development comes as part of the ongoing scrutiny of tax compliance in the corporate sector. While NFL asserts that the impact is not material, the substantial amount involved underscores the importance of tax compliance and the potential financial implications for companies operating in India's complex tax environment.

Investors and stakeholders of National Fertilizers Limited will likely keep a close watch on how this tax issue unfolds and its potential impact on the company's financials in the coming quarters.