Prima Industries announced the resignation of Mrs. Neethu Subramoniyan (DIN: 08788544) from her position as Independent Director, effective November 18, 2025. The company disclosed this information in a regulatory filing to the Bombay Stock Exchange (BSE) on the same day.

Resignation Details

Mrs. Subramoniyan cited personal reasons and other occupancies as the grounds for her departure. Her resignation will result in vacancies across multiple board committees, including:

• Audit Committee (Chairman)
• Corporate Social Responsibility Committee (Chairman)
• Nomination and Remuneration Committee
• Stakeholders Relationship Committee
• Risk Management Committee

Impact and Compliance

The board of Prima Industries has acknowledged the resulting vacancies and plans to reconstitute the committees upon appointing a new Independent Director. This process will be carried out in compliance with Regulations 18, 19, 20, and 21 of SEBI (LODR) Regulations, 2015, as well as Section 135 of the Companies Act, 2013.

In accordance with Regulation 25(6) of SEBI LODR Regulations, 2015, Prima Industries is required to fill the Independent Director vacancy within three months from the date of resignation or earlier if a suitable candidate is identified and appointed.

Other Directorships

Mrs. Subramoniyan's resignation from Prima Industries does not affect her other directorships. She continues to serve as:

1. Independent Director at Richfield Financial Services Limited

   • Committee memberships: Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee

2. Independent Director at Prima Agro Limited

   • Committee memberships: Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, Risk Management Committee, Corporate Social Responsibility Committee

3. Independent Director at Ayyappa Roller Flour Mills Limited (Unlisted Public Company)

   • Committee memberships: Audit Committee, Nomination and Remuneration Committee

The company has confirmed that there are no material reasons for Mrs. Subramoniyan's resignation other than those stated in her resignation letter. Prima Industries has submitted the required disclosures and documentation to the BSE in compliance with SEBI regulations and circulars.

Investors and stakeholders of Prima Industries should take note of these changes in the company's board composition and the upcoming process of filling the Independent Director position.

Prima Industries Ltd, a Kerala-based company, has announced a significant change to its preference share structure, extending the redemption period of its unlisted preference shares by seven years. This decision, approved by the company's Board of Directors, aims to enhance cash flow management and align with long-term business strategies.

Key Details of the Extension

The Board of Directors of Prima Industries Ltd, in a meeting held on August 4, 2025, approved the extension of the redemption period for 60,00,000 unlisted 10% Non-Convertible Redeemable Preference Shares. These shares, with a face value of ₹10 each, were originally set to be redeemed on March 26, 2026. With this new decision, the redemption date has been pushed back to March 26, 2033.

Financial Implications

The extension affects preference shares totaling ₹6.00 crore in value. This move is expected to provide Prima Industries with improved financial flexibility over the next several years. By delaying the redemption, the company can retain this capital for a longer period, potentially using it for operational needs or strategic investments.

Rationale Behind the Decision

According to the company's disclosure, the primary reasons for extending the redemption period are:

1. Better cash flow management
2. Alignment with long-term business plans

This strategic decision suggests that Prima Industries is looking to strengthen its financial position and create a more favorable environment for executing its future business strategies.

Regulatory Compliance and Next Steps

While the Board has approved this extension, it is important to note that the decision is subject to shareholder approval at the upcoming general meeting. Additionally, the company may need to secure other necessary regulatory approvals.

Prima Industries has committed to taking the required steps to obtain these approvals and will keep the stock exchange informed of any further developments regarding this matter.

Management Changes

In related news, Prima Industries also announced changes in its management team. Ms. Nayana V B has been appointed as the new Company Secretary and Compliance Officer, effective August 1, 2025. She replaces Mrs. Malavika S Kumar, who resigned from the position on July 30, 2025.

Conclusion

The extension of the preference share redemption period represents a significant financial decision for Prima Industries Ltd. As the company moves forward with this plan, stakeholders will be watching closely to see how this extended timeline impacts the company's financial strategies and overall performance in the coming years.

Shareholders and potential investors should note that this decision is still pending approval at the general meeting, and the final outcome may depend on the shareholders' vote and any required regulatory clearances.