Sanghvi Brands Limited has issued a formal response to the Bombay Stock Exchange (BSE) regarding a clarification notice on recent price movements in the company's stock. The response, dated March 11, 2026, addresses BSE's inquiry reference L/SURV/ONL/PV/APJ/2025-2026/3410 received via email on March 6, 2026.

Company's Compliance Statement

The company has affirmed its adherence to disclosure requirements under SEBI regulations. Sanghvi Brands stated that it has furnished all necessary events and information to the exchanges that have bearing on the company's operations and performance, including price-sensitive information as mandated under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Market Movement Attribution

The management has clarified that the recent increase in trading volume is purely market-driven and beyond the company's control. Sanghvi Brands emphasized that no material information has been withheld and there are no impending announcements that could influence the stock's price or volume behavior.

The company explicitly stated that it has neither withheld disclosure of any material information nor has any pending announcements that may impact stock performance. This clarification aims to address market speculation regarding the recent trading activity.

Corporate Governance Commitment

Sanghvi Brands has reiterated its commitment to maintaining the highest standards of corporate governance and regulatory compliance. The company emphasized that regulatory compliance receives utmost priority in its operations and decision-making processes.

The response letter, signed by Compliance Officer and Company Secretary Aman Sharma (Membership No. A28639), has been simultaneously uploaded on the company's website at www.sanghvirbrands.com , ensuring transparency and public accessibility of the information.

Sanghvi Brands Limited has completed its board meeting held on March 10, 2026, addressing critical governance matters as previously announced. The meeting, conducted through video-conferencing from 4:00 P.M. to 4:21 P.M. IST, resulted in significant organizational changes affecting the company's board structure and committee compositions.

Director Resignation Formalized

The board officially noted the resignation of Mr. Carton Pereira (DIN: 00106962), Non-Executive Director, who had submitted his resignation letter dated February 05, 2026, with effect from the same date. In his resignation letter, Mr. Pereira cited personal commitments as the reason for stepping down and confirmed no other material reasons for his departure.

Committee Leadership Changes

Following Mr. Pereira's resignation, who served as Chairman across multiple committees, the board appointed Mr. Sunil Mohan Lulla (DIN: 00110266), an existing Independent Director, as the new Chairman for all three key committees. Additionally, Mr. Narendra Sanghvi (DIN: 02912085), Non-Executive Director, was appointed as a member across all committees to maintain required composition.

Audit Committee Reconstitution

The Audit Committee has been restructured to ensure compliance with Section 177(2) of the Companies Act, 2013, and listing regulations:

Nomination and Remuneration Committee Updates

The committee composition has been revised under Section 178 of the Companies Act, 2013:

Stakeholders Relationship Committee Restructuring

The committee has been reconstituted with the same leadership structure:

Deferred Appointment

The board deferred the previously planned appointment of Mr. Rohit Prakash Bafana (DIN: 00590469) as Additional Director in Independent and Non-Executive capacity due to non-receipt of requisite documents and declarations required under the Companies Act, 2013, and applicable SEBI circulars.

Regulatory Compliance

The meeting outcome was communicated to BSE Limited in compliance with Regulation 30 of the Listing Regulations and SEBI Master Circular dated November 11, 2024. The communication was digitally signed by Aman Sharma, Compliance Officer & Company Secretary (Membership No.: A28639), demonstrating the company's commitment to regulatory adherence and transparent governance practices.