Seshasayee Paper & Boards Limited has announced the withdrawal of its credit rating by CRISIL Ratings, while continuing to maintain ratings assigned by ICRA Limited. The company informed stock exchanges about this development in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

CRISIL Rating Withdrawal Details

CRISIL Ratings has withdrawn its credit rating for the company's working capital facilities, which included both fund-based facilities (designated as long-term) and non-fund based facilities (designated as short-term). The withdrawal was processed based on the company's request and after obtaining a No Objection Certificate (NOC) from the company's bankers.

The rating withdrawal communication was uploaded by CRISIL on their website on 20.02.2026 without direct communication to the company. This withdrawal pertains to the last rating that was previously assigned by CRISIL and communicated to stock exchanges on 01.01.2026.

Current ICRA Credit Ratings

The company continues to maintain credit ratings assigned by ICRA Limited for its debt facilities. The latest credit rating information was communicated to stock exchanges on 30.01.2026.

Regulatory Compliance

The disclosure was made in accordance with Regulation 30 read with Part-A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has requested stock exchanges to take the rating withdrawal information on record.

The communication was signed by S Srinivas, Director (Finance) & Secretary, and submitted to both National Stock Exchange of India Limited and BSE Limited on 23.02.2026.

Seshasayee Paper and Boards Limited has officially dispatched its postal ballot notice on February 09, 2026, to shareholders seeking approval for critical board appointments under the Companies Act, 2013 and SEBI LODR Regulations 2015. The paper manufacturing company requires shareholder consent for re-appointing its current Chairman and welcoming a new government nominee to the board.

Official Notice Dispatch and Communication

The company has sent the postal ballot notice in electronic form to shareholders' registered email addresses through their Depository Participants and Registrar and Share Transfer Agents. The notice is available on the company's website www.spbldt.com and NSDL's e-voting platform www.evoting.nsdl.com .

Chairman Re-appointment with Enhanced Remuneration

The company proposes to re-appoint N Gopalaratnam as Whole-time Director, designated as Chairman, for a three-year term commencing April 01, 2026. His current term expires on March 31, 2026, making this re-appointment essential for leadership continuity through a Special Resolution.

Gopalaratnam, aged 78 years, brings over 55 years of specialization in pulp and paper industry operations. His tenure since 1988 has witnessed significant company transformations, including major expansion programs worth ₹ 190 crores, establishment of a 20 MW captive power plant costing ₹ 65 crores, and implementation of mill development plans totaling ₹ 350 crores.

Government Nominee Director Appointment

The company seeks approval for appointing Anurag Mishra, IFS, Special Secretary, as a Nominee Director liable to retire by rotation through an Ordinary Resolution. Mishra was nominated by the Environment, Climate Change and Forests Department, Government of Tamil Nadu, and appointed as Additional Director on January 31, 2026.

E-Voting Process and Timeline

Shareholders can participate in the decision-making process through remote electronic voting exclusively, as physical ballot papers will not be distributed. The company has engaged National Securities Depository Limited (NSDL) to facilitate the e-voting process.

K Sankarasubramanian, Practising Company Secretary (Membership No. F 11241 / COP: 15994), has been appointed as Scrutiniser to ensure fair and transparent voting procedures. Results will be announced at the company's registered office in Pallipalayam, Tamil Nadu, and subsequently posted on the company website and stock exchange platforms.

Leadership Legacy and Strategic Vision

Gopalaratnam's leadership achievements include successful completion of multiple mill development plans, acquisition and turnaround of Subburaj Paper Mills in Tirunelveli, and pioneering environmental certifications including ISO 9001, ISO 14001, and Forest Stewardship Council accreditations. Under his guidance, the company achieved Two Star Export House status and received the Tamil Nadu Pollution Control Board Green Award in 2017.

The company has also embarked on ambitious renewable energy projects, including investment in 62 MW solar/wind power generation and implementation of MDP-IV in Unit-Erode for augmenting pulp and paper capacities by 40%. These strategic initiatives position the company for sustainable growth in the evolving paper industry landscape.