PI Industries Limited has announced key changes in its senior management structure, appointing Ms. Kamali Rajesh as the new Global Chief People Officer effective January 19, 2026. The company disclosed these changes in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Senior Management Personnel Changes

The leadership transition involves two significant changes in the company's senior management team:

Ms. Rajesh will be designated as part of the Senior Management Personnel of the Company in her new role as Global CPO, while Mr. Aiyaswamy will cease to be part of the Senior Management Personnel with effect from the same date.

Profile of New Global Chief People Officer

Ms. Kamali Rajesh, aged 52 years, brings extensive global experience to her new role at PI Industries. Her professional background spans over 25 years of human resources leadership across diverse geographical regions including Asia, Europe, the United States, and Africa.

Professional Experience and Expertise

Ms. Rajesh's career encompasses strategic HR leadership roles across multiple industries:

• Engineering and Automotive sectors
• Agritech and IT industries
• Business services sector

Her expertise includes delivering high-impact people strategies in complex, multi-business, and multicultural environments. She has demonstrated success in partnering with senior business leaders to drive transformation, performance, and growth initiatives.

Recent Leadership Role

Most recently, Ms. Rajesh served as Global Head of People & Organisation Development at Syngenta Group, a global agriscience leader. In this position, her work contributed to meaningful improvements across several key areas:

Ford Motor Company Experience

Earlier in her career, Ms. Rajesh held senior HR leadership positions at Ford Motor Company, where she led human resources operations across the Asia Pacific and Africa regions. Her responsibilities included:

• Building leadership capability across diverse markets
• Shaping organization design for optimal performance
• Driving performance cultures in global environments
• Enabling business-led transformation initiatives

Global Perspective and Qualifications

Ms. Rajesh's international experience is extensive, having lived and worked in seven countries: India, China, Thailand, Singapore, Switzerland, New Zealand, and the UAE. This global exposure provides her with valuable perspective on how culture and leadership influence business performance.

Educational Background and Certifications

Her academic qualifications include:

Ms. Rajesh is also a certified executive coach and has received recognition as an award-winning HR leader. She is passionate about building future-ready organizations where people thrive and purpose drives impact.

Regulatory Compliance

PI Industries Limited has made this disclosure in accordance with Regulation 30 read with Sub Para 7 of Para A of Part A of Schedule III of SEBI Listing Regulations, 2015. The company has also referenced the SEBI Master Circular issued via circular number SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, ensuring full regulatory compliance in announcing these senior management changes.

PI Industries Limited has received a GST demand order worth ₹3.90 crores from tax authorities in Bhatinda, Punjab, relating to alleged tax violations for the financial year 2021-22. The company disclosed this development through a regulatory filing on January 06, 2026, in compliance with SEBI listing regulations.

GST Demand Details

The demand order was issued by the Office of the Excise and Taxation Officer-cum-State Tax Officer, Jurisdiction – Bhatinda, under Section 73 of the Central Goods and Service Tax (CGST) Act, 2017 read with Punjab Goods and Services Tax (PGST) Act, 2017. The total demand amount includes tax, interest, and penalty components.

Nature of Alleged Violations

The tax authorities have raised the demand primarily on account of disallowance of input tax credits that were availed by the company during the financial year 2021-22. Input tax credit is a mechanism that allows businesses to claim credit for taxes paid on inputs used in the manufacture of goods or provision of services.

Company's Response and Impact Assessment

PI Industries has stated that there is no material impact on the company's financials, operations, or other activities due to this demand order. The company has sought legal advice on the matter and believes it has adequate grounds to contest the tax authorities' decision.

The company is currently in the process of filing an appeal before the appropriate authority to challenge the demand order. This indicates that PI Industries disputes the tax authorities' interpretation and application of GST provisions in their specific case.

Regulatory Compliance

The disclosure was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates listed companies to inform stock exchanges about material events that could impact investor decisions. The company provided detailed information in a structured format as required under the SEBI Master Circular issued in November 2024.

This development represents a routine regulatory challenge that companies often face during tax assessments, and the company's decision to contest the order suggests confidence in its tax compliance practices for the period in question.