Sheela foam Limited has announced the cessation of Mr. Vijay Kumar Ahluwalia as Non-Executive Independent Director following the completion of his second consecutive term. The company disclosed this information to stock exchanges on March 05, 2026, in compliance with regulatory requirements.

Director Tenure Completion

Mr. Vijay Kumar Ahluwalia's second consecutive term as Non-Executive Independent Director concluded on March 04, 2026. With effect from March 05, 2026, he ceased to hold the position of Non-Executive Independent Director of the company. The disclosure was made pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Board Committee Impact

Following the completion of Mr. Ahluwalia's tenure as Non-Executive Independent Director, his membership and chairmanship in various committees of the Board have also ceased to exist. This change affects the composition of the company's board committees where he previously served.

Regulatory Compliance Details

The company provided detailed information as required under regulatory provisions:

Company Communication

The disclosure was signed by Md. Iquebal Ahmad, Company Secretary & Compliance Officer, and submitted to both BSE Limited and National Stock Exchange of India Limited. The communication emphasized that the cessation was due to the natural completion of the director's tenure rather than any other circumstances.

Sheela Foam Limited operates from its registered office in Mumbai and corporate office in Noida, maintaining compliance with all listing regulations and disclosure requirements.

Sheela foam Limited's Board of Directors concluded their scheduled meeting on March 2, 2026, without declaring an interim dividend for the financial year 2025-26. The board decided to deliberate on dividend matters in due course, as communicated to both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) under regulatory compliance requirements.

Board Meeting Outcome and Timeline

The board meeting, which was previously announced on February 24, 2026, took place as scheduled to consider the declaration of an interim dividend. However, after deliberations, the board chose not to declare any interim dividend at this time. The meeting had an extended duration, commencing at 09:45 AM and concluding at 07:00 PM, indicating thorough discussions on the matter.

Regulatory Compliance and Communication

The outcome notification was issued in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to inform stock exchanges about material developments and board meeting outcomes that could impact investor decisions.

Corporate Structure and Contact Information

Sheela Foam Limited maintains its operational headquarters at Sleepwell Tower, Sector 135, Noida, while the registered office is located in Mumbai, Maharashtra. The company continues to be listed on both major Indian stock exchanges with established trading identifiers.

The board's decision to defer dividend deliberations suggests a cautious approach to capital allocation, with the company indicating that dividend considerations will be revisited at an appropriate time during the financial year.