Change in Director / Key Managerial Personnel

Nature of change:

  • Designation change of Mr. Mrutyunjaya Panda from Chief Operating Officer to Chief Strategy Officer
  • Remuneration increase for Mr. Ashwini Kumar from ₹78,00,000 p.a. to ₹1,01,00,004 p.a.

Effective date: Both changes effective from 1st October, 2026

Approval process: Changes approved by Board of Directors through circular resolution dated 30th September 2026, based on recommendation of Nomination and Remuneration Committee made vide circular resolution dated 29th September 2026

Mr. Mrutyunjaya Panda details:

  • DIN: Not provided in disclosure
  • Previous designation: Chief Operating Officer (appointed April 1, 2023)
  • New designation: Chief Strategy Officer
  • Tenure: Services continue as per existing terms and conditions of employment
  • Background: Joined company March 16, 1998 as Business Manager
  • Education: Diploma in electrical engineering from Kalinga Institute of Mining Engineering Technology, Chendipada
  • Experience: Over 28 years in operations and management sector
  • Key responsibilities: Strategic planning, operations management, and financial management
  • Reason for change: To align role with expanded responsibilities in strategic planning, business growth, cross-functional leadership, performance monitoring, innovation and risk management

Mr. Ashwini Kumar details:

  • Current position: Vice President & Zonal Head (North) since April 1, 2025
  • Previous remuneration: ₹78,00,000 per annum
  • New remuneration: ₹1,01,00,004 per annum
  • Tenure: Services continue as per existing terms and conditions of employment
  • Education: Bachelor's degree of technology in computer science and engineering from Biju Patnaik University of Technology, Odisha, Rourkela; Post graduate diploma in IT management from Symbiosis University, Pune
  • Previous associations: Patna Developers and Manaswin Group
  • Experience: Over 17 years in business development and sales and marketing
  • Key responsibilities: Client communications and compliance on client deliverables
  • Reason for change: Recognition of performance, contribution to organization and overall business results, and to ensure remuneration remains aligned with experience, role and prevailing industry standards

Regulatory compliance:

  • Disclosure made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Read with SEBI Circular no. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July, 2023
  • Additional compliance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026
  • Both individuals categorized as Senior Management Personnel under company's Nomination and Remuneration Policy
  • No relationship between directors disclosed (marked as Not Applicable)

Company information:

  • Disclosure dated: 30th September, 2026

Additional material information:

  • Detailed disclosure provided in Annexure-I as required by Listing Regulations
  • Intimation available on company website at www.csm.tech