WAA Solar Limited has announced significant management changes through a regulatory filing dated February 24, 2026, involving the appointment of a new Chief Financial Officer and the resignation of a Non-Executive Director.

New CFO Appointment

The Board of Directors, based on recommendations from the Nomination and Remuneration Committee, appointed Mr. Mohanan Shankaran Choran as Chief Financial Officer and Key Managerial Personnel effective February 24, 2026.

Mr. Choran brings extensive expertise in accounts and operations of EPC contracts, with more than 55 years of professional experience. His background includes approximately 20 years serving as Finance Director in a public limited company.

Director and CFO Resignation

Mr. Mangi Lal Singh (DIN: 02754372) submitted his resignation from dual roles as Non-Executive Director and Chief Financial Officer, effective from the close of business hours on February 24, 2026.

In his resignation letter dated February 24, 2026, Mr. Singh cited pre-occupancy as the reason for his departure. The Board acknowledged his valuable contributions and guidance during his association with the company. Mr. Singh confirmed that there were no material reasons for his resignation beyond those mentioned in his resignation letter.

Board Committee Reconstitution

Following the resignation, the Board reconstituted three key committees effective February 24, 2026, in compliance with SEBI regulations.

Audit Committee

Nomination and Remuneration Committee

Stakeholders Relationship Committee

Regulatory Compliance

The company has made these disclosures in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and various SEBI circulars. The information has been communicated to BSE Limited and made available on the company's website. Company Secretary and Compliance Officer Mansi Heda signed the regulatory filing on behalf of WAA Solar Limited.

WAA Solar Limited has successfully completed its postal ballot process, with shareholders overwhelmingly approving the regularization of Mr. Prashant Kumar Gupta as Non-Executive Independent Director. The company announced the voting results on February 19, 2026, following the completion of the remote e-voting process.

Voting Results and Participation

The postal ballot attracted participation from 21 members representing 9,028,364 equity shares out of the company's total 13,266,764 shares, achieving a voting turnout of 68.05%. The resolution required a special resolution and received strong support across shareholder categories.

Category-wise Voting Breakdown

The voting results showed unanimous support from the Promoter and Promoter Group, while Public Non-Institutions demonstrated strong backing for the resolution.

Process Timeline and Compliance

The postal ballot process followed all regulatory requirements under the Companies Act, 2013, and SEBI regulations. Key timeline details include:

• Postal Ballot Notice Date: January 20, 2026
• Cut-off Date: January 16, 2026
• E-voting Period: January 20, 2026 (9:00 AM) to February 18, 2026 (5:00 PM)
• Total Shareholders on Record: 2,424

The company engaged National Securities Depository Limited (NSDL) to provide remote e-voting facilities through their website. Notice was distributed electronically to members with registered email addresses and published in newspapers including "Free Press Gujarat" and "Lokmitra" on January 20, 2026.

Scrutinizer's Confirmation

CS Haresh Kapuriya from KH & Associates, serving as the appointed scrutinizer, confirmed the validity of the voting process and results. The scrutinizer's report verified that all 9,028,364 votes cast through the e-voting system were valid, with no invalid votes recorded. The resolution was deemed passed with the requisite majority as per regulatory requirements.

Director Appointment Details

The approved resolution regularizes the appointment of Mr. Prashant Kumar Gupta (DIN: 11377977) as a Non-Executive Independent Director of the company. This appointment strengthens the company's board composition and governance structure, reflecting shareholders' confidence in the proposed leadership addition.