National Fittings Limited , a company listed on the Bombay Stock Exchange, has announced significant changes to its board committees following recent shifts in its directorship. The reconstitution, which took place on October 18, 2025, comes in the wake of director resignations and new appointments.

Committee Restructuring

The company has reorganized three key committees:

1. Audit Committee
2. Nomination and Remuneration Committee
3. Shareholders Relationship Committee

These changes were necessitated by the resignations of directors A V Palaniswamy and Panath Anitha, and the subsequent appointment of Anil Kumar Agarwal and Arpit Agarwal.

New Committee Compositions

The revised structure of the committees is as follows:

Board of Directors

The current Board of Directors of National Fittings Limited comprises:

• Arpit Agarwal (Managing Director)
• Jayaram Govindarajan (Joint Managing Director)
• Chenniappan Selvakaumar (Non-Executive Independent Director)
• Susheela Balakrishnan (Non-Executive Independent Director)
• Anil Kumar Agarwal (Non-Executive Non-Independent Director)

Ownership Changes

In a related development, the company has also reported significant changes in its ownership structure. On October 23, 2025, Himgiri Castings Private Limited, along with persons acting in concert, acquired a substantial stake from the former promoter, A V Palaniswamy. The details of this acquisition are as follows:

This acquisition follows an open offer that was completed on October 13, 2025, as previously reported to the Bombay Stock Exchange.

These developments mark a significant shift in both the governance and ownership structure of National Fittings Limited, potentially signaling a new direction for the company's future operations and strategies.

In a significant corporate action, Himgiri Castings Private Limited, along with persons acting in concert, has successfully acquired a 34.04% stake in National Fittings Limited (NFL). This acquisition, completed on October 23, 2025, marks a substantial change in the ownership structure of the company.

Acquisition Details

The stake acquisition involved multiple parties purchasing shares from the promoter, A V Palanismamy. The breakdown of the acquisition is as follows:

Open Offer and Regulatory Compliance

Prior to this acquisition, the acquirers had completed an open offer on October 13, 2025, which was duly communicated to the Bombay Stock Exchange (BSE) on October 15, 2025. This sequence of events demonstrates compliance with regulatory requirements for such significant stake changes.

Changes in Board Composition

Following the stake acquisition, National Fittings Limited has undergone changes in its board composition and committee structures. As per the company's intimation to BSE on October 24, 2025:

1. Mr. A V Palaniswamy and Mrs. Panath Anitha have resigned from their positions.
2. Mr. Anil Kumar Agarwal and Mr. Arpit Agarwal have been appointed to the board.

Reconstitution of Board Committees

The company has also reconstituted its key committees:

Audit Committee

• Mrs. Susheela Balakrishnan (Chairman, Independent)
• Mr. Chenniappan Selvakaumar (Member)
• Mr. Arpit Agarwal (Member)

Shareholders Relationship Committee

• Mr. Chenniappan Selvakaumar (Chairman, Independent)
• Mr. Jayaram Govindarajan (Member)
• Mr. Anil Kumar Agarwal (Member)

Nomination & Remuneration Committee

• Mr. Chenniappan Selvakaumar (Chairman, Independent/Non-Executive)
• Mrs. Susheela Balakrishnan (Member, Independent/Non-Executive)
• Mr. Anil Kumar Agarwal (Member, Non-Executive)

These changes in ownership and management structure may signal a new direction for National Fittings Limited. Stakeholders and market observers will likely be watching closely to see how these developments impact the company's future strategies and performance.