Olympia Industries Limited , a company listed on the Bombay Stock Exchange (BSE) under the scrip code 521105, has announced changes to its board composition. The company disclosed on July 24, 2025, that two of its independent directors have completed their tenure and subsequently stepped down from their positions.

Board Changes

Mr. Pravin Kumar Shishodiya (DIN: 03011429) and Mr. Naresh Parsharam Waghchaude (DIN: 07240631) concluded their second term of five consecutive years as independent directors on July 22, 2025. Both directors ceased to be on the board at the close of business hours on that date.

Regulatory Compliance

The company made this disclosure in compliance with Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015. The announcement was made through a filing to the BSE, demonstrating Olympia Industries' commitment to transparent communication with its stakeholders.

Company Details

Olympia Industries Limited, with the Corporate Identification Number (CIN) L52100MH1987PLC045248, has its registered office at C-205, Synthofine Industrial Estate, Behind Virwani Industrial Estate, Goregaon (East), Mumbai–400063, India.

Implications

The departure of these two independent directors marks a significant change in the company's board structure. Independent directors play a crucial role in corporate governance, providing objective oversight and protecting the interests of minority shareholders. The company has not yet announced any replacements for the outgoing directors.

Investors and stakeholders will likely be watching closely to see how Olympia Industries addresses these vacancies and maintains the balance of independent oversight on its board in the coming days.

Olympia Industries Limited , a company listed on the Bombay Stock Exchange, has announced the appointment of two new Non-Executive Independent Directors to its Board, signaling a move to strengthen its corporate governance structure.

Key Appointments

The company has appointed Mr. Ritesh Gupta and Mr. Kamlesh Joshi as Non-Executive Independent Directors for a term of five years, effective from July 22, 2025, to July 21, 2030. These appointments were approved by shareholders at Olympia Industries' 36th Annual General Meeting (AGM), following recommendations from the Nomination and Remuneration Committee and the Board of Directors.

Profile of New Directors

Mr. Ritesh Gupta

Mr. Gupta is a practicing Company Secretary with extensive experience in corporate law matters, SEBI regulations, and compliance. He specializes in corporate compliances, secretarial practices, and due diligence.

Mr. Kamlesh Joshi

Mr. Joshi is a Fellow member of the Institute of Company Secretaries of India (ICSI) with over 25 years of corporate experience. His expertise spans secretarial, legal, finance, HR, procurement, imports/exports, and agri-chemical businesses. Mr. Joshi holds an M.Com. (Taxation) and LL.B. (Hons.) from Devi Ahilya University, Indore.

Corporate Governance Enhancement

Both Mr. Gupta and Mr. Joshi are not related to any existing directors of Olympia Industries, reinforcing the board's independence. The company has confirmed that neither director is debarred from holding directorial positions by any regulatory authority.

AGM Proceedings

The appointments were part of the proceedings of Olympia Industries' 36th AGM, held on July 22, 2025, via video conferencing. The meeting, which started at 11:00 a.m. and concluded at 11:25 a.m. (IST), saw the passage of seven resolutions, including the appointments of the new directors.

Company Outlook

These strategic appointments reflect Olympia Industries' commitment to enhancing its leadership team and corporate governance practices. The diverse expertise of the new directors is expected to contribute significantly to the company's future growth and compliance efforts.