Change in Director / Key Managerial Personnel

Nature of change: Reappointment and new appointment

Asit A. Patel (DIN: 00093332)

  • Reappointed as Chairman cum Managing Director and Key Managerial Personnel (KMP)
  • Effective date: September 1, 2026 for a period of 3 years
  • Subject to shareholder approval at ensuing Annual General Meeting
  • Initial appointment as Managing Director was on June 25, 1994
  • Qualifications: B.S. (Engineering Management) from University of Illinois, USA
  • Experience: Technocrat and entrepreneur associated with industrial development in North Gujarat with over 33 years of experience
  • Shareholding: 5,000 equity shares
  • Relationships: Brother of Mr. Anand A Patel (Director), Father of Mr. Arjun A Patel (Whole-Time Director)
  • Holds no directorships in other listed entities

Aryan A. Patel

  • Appointed as Executive-Business Development (Senior Management Personnel)
  • Effective date: October 1, 2026
  • Subject to shareholder approval at ensuing Annual General Meeting
  • Qualifications: M.S. (Mechanical Engineering) from Stanford University, B.S. (Mechanical Engineering) from University of Wisconsin-Madison, USA
  • Experience: Young technocrat and entrepreneur with experience working in American companies including marine engines and medical devices
  • Shareholding: 35,200 equity shares
  • Relationship: Son of Mr. Anand A Patel (Director)

Key Financial or Operational Approvals

The Board of Directors approved:

  • Unaudited standalone and consolidated financial results for the quarter ended June 30, 2026
  • Limited review reports of the financial results as per Indian Accounting Standards (Ind-AS)
  • Director's Report, Secretarial Audit Report, Management Discussion & Analysis Report, Corporate Governance Report for the financial year ended March 31, 2026
  • Payment of remuneration to Mr. Asit A. Patel as Chairman cum Managing Director
  • Reappointment of Mr. Asit A. Patel as Chairman cum Managing Director
  • Appointment of Mr. Aryan A. Patel as Executive-Business Development

Board meeting timing: Commenced at 4:30 pm and concluded at 6:00 pm on August 14, 2026

Strategic or Business Context

The company announced commencement into manufacturing and sales of Road Construction Equipment, specifically:

  • Asphalt Mixing Plant
  • Paver Finisher

This marks the company's foray into the road construction equipment business, representing a strategic diversification of their business portfolio.

Any Other Material Information

All appointments and remuneration are subject to approval of members at the ensuing annual general meeting and pursuant to recommendation of Nomination and Remuneration Committee and Audit Committee of the Company.

Necessary disclosures were made pursuant to SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated July 11, 2023 and last updated on January 30, 2026.