Vardhman Special Steels Limited held its 15th Annual General Meeting (AGM) on September 24, 2025, where shareholders approved all ten resolutions on the agenda. The meeting, which saw a strong participation rate of 80.3% of outstanding shares, also ushered in significant changes to the company's board structure.

Key AGM Approvals

Shareholders gave their nod to several important matters, including:

1. Adoption of audited standalone and consolidated financial statements for the year ended March 31, 2025
2. Declaration of dividend
3. Re-appointment of Mrs. Suchita Jain and Mrs. Soumya Jain as directors
4. Appointment of Mr. Koichiro Hayashida as a Non-Executive Non-Independent Director
5. Decision not to fill the vacancy caused by the retirement of Mr. Rajeev Gupta
6. Ratification of Cost Auditors' remuneration for FY2026
7. Appointment of M/s Harsh Goyal & Associates as Secretarial Auditors for five years
8. Approval for interim use of funds raised from Aichi Steel Corporation through preferential allotment

Board Restructuring

Following the AGM, the company announced significant changes to its board composition:

1. Mr. Sachit Jain, previously Vice-Chairman & Managing Director, has been designated as the Chairman & Managing Director effective September 25, 2025. This change comes after the cessation of Mr. Rajeev Gupta's directorship.

2. The board has appointed two new Independent Directors for a term of five years, subject to shareholder approval:

   • Mr. Dinkar Gupta: A former Indian Police Service (IPS) officer with over 30 years of experience in the security domain. He previously served as the Director General of the National Investigation Agency and as Director-General of Police in Punjab.

   • Mr. Nishant Arya: Vice Chairman & MD of the JBM Group and Chairman of Linde Wiemann GmbH, Germany. Mr. Arya brings extensive experience in electric vehicles, renewable energy, and sustainable mobility initiatives.

Shareholder Participation

The AGM saw robust engagement from shareholders:

The strong shareholder turnout and unanimous approval of all resolutions reflect confidence in Vardhman Special Steels' management and strategic direction. The addition of new board members with diverse expertise in security and sustainable technologies signals the company's focus on strengthening governance and exploring new growth avenues.

Vardhman Special Steels Limited , a prominent player in the Indian steel industry, has announced significant changes in its leadership structure and Board composition.

Leadership Change

Effective September 25, 2025, Sachit Jain, who previously held the position of Vice-Chairman & Managing Director, has been designated as Chairman & Managing Director. This change follows the cessation of directorship of Rajeev Gupta, who served as Chairman (Non-Executive Director) on the company's Board.

New Additions to the Board

The Board of Directors of Vardhman Special Steels, through resolutions by circulation dated September 25, 2025, has appointed Mr. Dinkar Gupta (DIN: 07674724) and Mr. Nishant Arya (DIN: 00004954) as Independent Directors. Both appointments are effective from September 25, 2025, for a consecutive term of five years, pending approval from the company's shareholders.

Mr. Dinkar Gupta: A Veteran in National Security

Mr. Dinkar Gupta brings a wealth of experience in the security domain to Vardhman Special Steels. His impressive credentials include:

• Over 30 years of experience in the security sector
• Former Director General of the National Investigation Agency (NIA) from June 2022 to March 2024
• Served as Director-General of Punjab Police from 2019 to 2021
• Indian Police Service (IPS) Officer of the 1987 batch
• Commerce graduate with a Master's degree in Police Administration
• Recipient of numerous prestigious awards, including the Police Medal for Gallantry (1992) and the Bar to Police Medal for Gallantry (1994)

Mr. Nishant Arya: A Business Visionary

Mr. Nishant Arya joins the Board with an impressive track record in business leadership and sustainable development:

• Vice Chairman & MD of the $3.30 billion JBM Group
• Chairman of Linde Wiemann GmbH, Germany
• Graduate in Business Administration from Bradford University, UK
• Key player in sectors including Electric Vehicles, EV Charging Infrastructure, Renewable Energy, and Auto systems
• Active participant in global forums such as the UN climate change conference, World Economic Forum, and Indo-German CEO's forum

Compliance and Independence

Vardhman Special Steels has confirmed that both Mr. Gupta and Mr. Arya have no pecuniary relationship with other company directors and are not related to any existing Board members. Furthermore, they are not debarred from holding directorship positions by any order passed by SEBI or any other authority.

The appointment of these two distinguished professionals, along with the leadership change, is expected to bring diverse perspectives and rich experience to Vardhman Special Steels' Board, potentially enhancing the company's strategic direction and governance.

Shareholders will have the opportunity to approve these appointments, which could mark the beginning of a new chapter in Vardhman Special Steels' corporate journey.