Sambhv Steel Tubes Limited has announced a postal ballot process to seek shareholder approval for the appointment of Mr. Sharad Chandak as an Independent Director. The company issued the formal notice on February 17, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Postal Ballot Details and Timeline

The remote e-voting process has been structured with specific timelines to ensure comprehensive shareholder participation. The company has engaged KFin Technologies Limited as the service provider for the e-voting platform.

Director Appointment Proposal

The postal ballot seeks approval for a special resolution regarding Mr. Sharad Chandak's appointment. The Board of Directors initially appointed him as an Additional Director in the capacity of Independent Director on January 31, 2026, subject to shareholder approval.

Professional Background and Qualifications

Mr. Chandak brings extensive banking and financial expertise to the board. His educational qualifications include a Post Graduate Diploma in Financial Advising (PGDFA) from the Indian Institute of Banking & Finance, Certified Associate (CAIIB) certification, and M.Com. from Amravati University with a Gold Medal.

His professional experience spans 36 years of leadership at State Bank of India (SBI), including international exposure in the United Kingdom. He retired as Chief General Manager, Lucknow Circle, in January 2025, overseeing assets exceeding ₹80,000 crore and deposits over ₹2.5 lakh crore across 1,800+ branches.

Key Career Highlights

Mr. Chandak's career includes several notable achievements:

• International Leadership: Served as CEO & Director of SBI (UK) Limited from 2019 to 2022, achieving 90% balance sheet growth from under GBP 1.5 billion to over GBP 2.7 billion
• Asset Resolution: Led resolution of ₹28,000+ crore stressed portfolio as General Manager & Sector Head (Steel), achieving resolutions exceeding ₹4,000 crore within five months
• Current Directorships: Non-Executive Independent Director at SMS Limited and RKTC Infratech Limited
• Recognition: Received Freedom of the City of London (2022) and Lifetime Achievement Award (2024)

E-voting Process and Accessibility

The company has implemented a comprehensive e-voting system accessible through multiple platforms. Shareholders can vote through KFin Technologies' platform at https://evoting.kfintech.com , as well as through NSDL and CDSL depositories' e-voting systems.

Eligible shareholders include those whose names appear in the register of members as on the cut-off date of February 13, 2026, and whose email addresses are registered with the company or depositories. The voting process will be conducted entirely through remote e-voting, with no physical postal ballot forms being distributed.

Regulatory Compliance and Documentation

The appointment follows all regulatory requirements under the Companies Act, 2013, and SEBI regulations. Mr. Chandak has submitted the necessary declarations of independence and meets the criteria specified under Section 149(6) of the Companies Act and Regulation 16(1)(b) of the Listing Regulations.

The complete postal ballot notice, explanatory statements, and related documents are available on the company's website at www.sambhv.com and on the websites of BSE Limited and National Stock Exchange of India Limited.

Sambhav Steel Tubes Limited has signed a significant Memorandum of Understanding with the Ministry of Steel, Government of India, marking its entry into the Production Linked Incentive (PLI) Scheme 1.2 for Specialty Steel. The agreement, executed on February 09, 2026, involves both the parent company and its wholly owned subsidiary, Sambhav Tubes Private Limited, with a combined investment commitment of ₹361.75 crores.

Investment Details and Capacity Expansion

The MOU encompasses two distinct manufacturing projects with substantial capacity additions. The parent company has committed to establishing facilities for manufacturing thin precision gauge stainless steel sheets, while the subsidiary will focus on alloy steel including stainless steel rolled long products.

Implementation Timeline and Objectives

The investment is strategically planned across three financial years from 2025-26 to 2027-28. This phased approach will enable the company to establish, expand, and augment manufacturing facilities systematically while achieving projected production targets. The initiative aligns with the government's Production Linked Incentive Scheme designed to boost specialty steel manufacturing capabilities in India.

Regulatory Compliance and Disclosure

The company has fulfilled all regulatory requirements under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure confirms that the transaction does not fall within related party transactions and involves no shareholding arrangements with the Ministry of Steel. The agreement does not grant any special rights such as director appointments or share subscription preferences.

Strategic Significance

This MOU represents a significant step in Sambhav Steel Tubes' expansion strategy, positioning the company to benefit from government incentives while contributing to India's specialty steel production capacity. The focus on thin precision gauge stainless steel sheets and alloy steel products addresses critical segments in the specialty steel market, supporting both domestic demand and potential export opportunities.