Sundrop Brands Limited, a prominent player in the Indian food industry, has announced significant changes to its Board of Directors, effective September 24, 2025. The company has appointed three new directors while accepting the resignation of one, in a move that could potentially reshape its strategic direction.

New Appointments

The company has made the following appointments to its Board:

1. Mr. Velloor Venkatakrishnan Ranganathan: Appointed as a Non-Executive Non-Independent Director, Mr. Ranganathan brings over 40 years of diverse financial experience to the table. A commerce graduate and gold medalist, he is currently a member of the International Council for Commercial Arbitration and has previously served as a Senior Partner with Ernst & Young (now EY).

2. Mr. Ramit Bharti Mittal: Also appointed as a Non-Executive Non-Independent Director, Mr. Mittal is the Executive Chairman of Gourmet Investments Pvt. Ltd. His business interests span media, entertainment, and hospitality. Mr. Mittal has been instrumental in bringing international restaurant brands to India and has played a key role in establishing the Easyday retail brand.

3. Mr. Madhavan Karunakaran Menon: Appointed as a Non-Executive Independent Director for a five-year term until September 23, 2030. Mr. Menon brings extensive experience from his tenure at Thomas Cook India, where he served in various capacities including as Executive Chairman until May 2025.

Board Resignation

Simultaneously, the company announced the resignation of Mr. Harjeet Singh Kohli from his position as Non-Executive Non-Independent Director, citing personal reasons.

Appointment Process and Compliance

The appointments were approved by the Board through Circular Resolutions, based on recommendations from the Nomination and Remuneration Committee. Sundrop Brands Limited has confirmed that none of the new appointees have been debarred from holding directorship positions by SEBI or any other authority.

Shareholder Approval and Future Implications

These appointments are subject to shareholder approval, indicating that the company is following due process in its board restructuring. The diverse backgrounds of the new directors, spanning finance, hospitality, and travel sectors, suggest that Sundrop Brands may be looking to broaden its strategic outlook and potentially explore new growth avenues.

The reshuffling of the board comes at a time when many companies are focusing on strengthening their corporate governance and bringing in fresh perspectives to navigate the evolving business landscape. As Sundrop Brands Limited moves forward with its new board composition, stakeholders will be keen to observe how these changes influence the company's future direction and performance in the competitive food industry sector.

Sundrop Brands Limited, formerly known as Agro Tech Foods Limited, has been ordered by the Industrial Tribunal in Vadodara to increase worker compensation and benefits at its Jhagadia plant in Gujarat. The decision addresses a dispute referred by the Labour Commissioner of Gujarat regarding pay raises and benefits demanded by worker unions.

Key Points of the Tribunal Order

The Industrial Tribunal has directed Sundrop Brands to:

• Increase basic pay
• Raise House Rent Allowance (HRA)
• Enhance conveyance allowance
• Boost education allowance
• Provide additional benefits to workers

This order comes in response to demands made by two worker unions: Shramik Kamdar Kalyan Sangh and Bharuch Jilla Mazdoor Sangh.

Company's Stance and Next Steps

Sundrop Brands maintains that it has been compliant with labor laws, stating that it has been paying minimum wages as required under the Minimum Wages Act. The company has expressed its intention to challenge the tribunal's decision, planning to file an appeal on both legal and merit grounds.

As of August 23, Sundrop Brands reported that it has not received an official copy of the order. The company became aware of the decision after downloading the order from the Industrial Tribunal's website.

Regulatory Compliance

In compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Sundrop Brands has informed the stock exchanges about this development. The company provided details as required under SEBI Circular no. SEBI/HO/CFD/CFDPoD-1/P/CIR/2023/123 dated July 13, 2023.

Potential Impact

While the exact financial impact of the order remains to be quantified, it is expected to affect the company's operational costs at its Jhagadia plant. Sundrop Brands has stated that it is currently examining the order to determine its full implications.

Investors and stakeholders will be watching closely as the company proceeds with its appeal against the tribunal's decision, which could have broader implications for labor relations and operational costs in the food processing industry.