Prudential sugar corporation Limited has announced the resignation of Ms. Shilpa Bung from her position as Non-Executive Independent Director, effective February 13, 2026. The resignation was communicated to stock exchanges including BSE Limited, National Stock Exchange of India Limited, and The Calcutta Stock Exchange Limited in compliance with regulatory requirements.

Resignation Details

Ms. Bung submitted her resignation letter on February 13, 2026, citing professional commitments as the primary reason for her departure from the Board. The resignation was processed in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Professional Commitments

In her resignation letter, Ms. Bung explained that her decision stems from her recent election as Chairperson of the ICSI Hyderabad Chapter. This new role demands significant time commitment and leadership responsibilities that preclude her continued active participation on Prudential Sugar Corporation's Board. She confirmed that there are no other material reasons for her resignation beyond these professional commitments.

Other Directorships

As part of the regulatory disclosure, the company revealed that Ms. Bung holds independent directorships in two other listed entities:

• Sigachi Laboratories Limited
• Godavari Drugs Limited

Administrative Requests

Ms. Bung has requested the company to take several administrative actions following her resignation:

• Acknowledge the resignation letter to enable filing of Form DIR-11 with the Registrar of Companies
• File Form DIR-12 with the Registrar of Companies and share a copy with filing receipt
• Relieve her from all Board Committees of which she is a member

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 read with Schedule III of the SEBI (LODR) Regulations, 2015 and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. All required documentation, including the resignation letter and detailed annexures, have been submitted to the relevant stock exchanges for information and records.

Prudential Sugar Corporation Limited (PSCL) has announced a significant move into the electric vehicle (EV) component sector. The company's board of directors has approved the conversion of a Memorandum of Understanding (MOU) into a Share Subscription Agreement, paving the way for a substantial investment in Senatla EV Products and its holding company.

Investment Details

The board has given the green light for PSCL to acquire a 76% equity stake in Senatla EV Products Private Limited. This strategic investment involves:

• Acquisition of 50,00,000 equity shares from Senatla EV Products Pvt Ltd
• Purchase of 3,10,000 equity shares from the holding company, Senatla Innovative EV Components Private Limited
• A total investment of Rs 53.10 crore

The agreement allows PSCL to gain a controlling interest in Senatla EV Products, potentially positioning the sugar company for diversification into the electric vehicle components market.

Corporate Action and Authorization

The board has authorized Mr. Mahip Jain, a director of PSCL, to sign and execute the agreement on behalf of the company. This move signals PSCL's commitment to completing the transaction and complying with the payment terms for the acquisition.

Financial Performance

Alongside this strategic move, PSCL also approved its unaudited financial results for the quarter and half-year ended September 30. The financial highlights include:

The company has shown a significant improvement in its financial performance compared to the previous year, with a substantial increase in both total income and net profit.

Auditor's Review

The statutory auditors have conducted a limited review of the unaudited financial results. While they have not expressed an audit opinion, they have highlighted several points for consideration:

• Advances paid to and received from various parties require further details and reconciliation.
• Balances of various assets and liabilities are subject to confirmations and reconciliations.
• The company has multiple legal cases pending at various levels, the outcomes of which cannot be ascertained at this time.

The auditors note that the impact of these points is currently unascertainable.

Market Implications

This strategic investment by Prudential Sugar Corporation into the EV component sector represents a significant diversification from its traditional sugar business. As the electric vehicle market continues to grow, this move could potentially open new revenue streams for PSCL, subject to successful integration and market conditions in the EV industry.

Investors and market watchers will likely keep a close eye on how this acquisition impacts PSCL's future financial performance and strategic direction. The company's ability to leverage this investment in the rapidly evolving EV sector may be crucial for its long-term growth prospects.