Summary of Key Information:

Nature of Filing / Announcement: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding management changes

Date of Board Meeting / Approval: September 28, 2026

Meeting Time: Commenced at 3:20 p.m. (IST) and concluded at 4:00 p.m. (IST)

Management Changes:

Resignation of Managing Director & CEO:

  • Name: Mr. Ketan Kulkarni (DIN: 10735941)
  • Position: Managing Director & Chief Executive Officer
  • Resignation Date: Effective from close of business hours on December 31, 2026
  • Reason for Resignation: To undertake a new role within the Allcargo Group as Chief Growth Officer effective January 01, 2027
  • Confirmation: Mr. Kulkarni confirmed there is no material reason for resignation other than stated
  • Notice Period: Requested waiver of 6-month notice requirement since tenure ends December 31, 2026

Appointment of New Management:

  • Name: Mr. Vijay Nehra (DIN: 07171885)
  • Appointment 1: Chief Transformation Officer & MD Designate with effect from October 01, 2026 till December 31, 2026
  • Appointment 2: Additional Director with effect from October 01, 2026
  • Appointment 3: Re-designated as Managing Director & Chief Executive Officer (CEO) for 5 consecutive years with effect from January 01, 2027 (subject to shareholder approval)

Professional Background of Mr. Vijay Nehra:

  • Extensive experience in general management, business transformation, supply chain, and operations
  • Industry experience: financial services, pharmaceuticals, FMCG, e-commerce, and technology-led businesses
  • Previous roles:
  • Chief Executive Officer of Ozone Pharmaceuticals Group (led transition to professionally managed organization)
  • Chief Operating Officer of RattanIndia Enterprises Limited (complete P&L responsibility across e-commerce, electric mobility, drones, and fintech)
  • Senior leadership positions at Indiabulls Group (asset reconstruction, commercial lending, treasury, investor relations)
  • Leadership roles at Hindustan Unilever Limited (sales, planning, logistics, customer service, supply chain operations)
  • Began career as Master Mariner and Merchant Ship Captain
  • Education:
  • Post Graduate Programme in Management from Indian School of Business, Hyderabad
  • Bachelor of Nautical Sciences from T. S. Chanakya, University of Mumbai (graduated with distinction, top 5% of class)

Governance and Compliance:

  • Mr. Vijay Nehra is not related to any Directors, Key Managerial Personnel, or Promoters of the Company
  • Not debarred from accessing capital markets or restrained from holding director position by SEBI or any authority
  • Approval received from Governance and Nomination & Remuneration Committee