Change in Director / Key Managerial Personnel

Nature of change: Relinquishment of office and appointment of new Chief Financial Officer

Outgoing CFO: Mr. Arunkumar Saluru relinquished his position as Chief Financial Officer and Key Managerial Personnel of the Company effective from closure of business hours on August 13, 2026. He will continue with the company as Vice President Finance & Accounts. The reason stated for relinquishment is "evolution in the role and requirements of the Finance function." Mr. Saluru confirmed there is no material reason for relinquishing the position other than the stated reason.

New CFO Appointment: Mr. Ashish Maheshwari appointed as Chief Financial Officer and Key Managerial Personnel with effect from August 14, 2026. His term is full-time employment.

Brief Profile of New CFO: Mr. Ashish Maheshwari is a finance professional with over 16 years of experience in corporate finance, project finance, treasury, financial planning, business strategy, and financial reporting. He holds multiple qualifications:

  • Qualified Chartered Accountant (ICAI)
  • Company Secretary (ICSI)
  • Law Graduate (LLB)
  • Diploma in IFRS from ACCA (UK)

He possesses extensive expertise in fundraising, project financing, treasury management, investor and lender relations, financial modeling, budgeting, mergers & acquisitions, financial reporting, Ind-AS compliance, board reporting, strategic planning, and business performance management. He has played a significant role in large-scale infrastructure, power, and renewable energy projects.

Previous Experience: Prior to joining IRM Energy Limited, he was associated with Adani Group, Kalpataru Group and Reliance ADAG Group.

Relationship with other directors: Not disclosed/Not applicable

Confirmation of eligibility: The appointment was approved by the Board of Directors at its meeting held on August 13, 2026, indicating compliance with SEBI/BSE/NSE norms.

Key Financial or Operational Approvals

The Board of Directors at its meeting held on August 13, 2026 (commenced at 08:00 p.m. IST and concluded at 08:06 p.m. IST) approved:

1. Relinquishment of office by Mr. Arunkumar Saluru as Chief Financial Officer and Key Managerial Personnel

2. Appointment of Mr. Ashish Maheshwari as Chief Financial Officer and Key Managerial Personnel

3. Authorization for Mr. Ashish Maheshwari to determine the materiality of an event or information and to make disclosure to the Stock Exchanges as per the company's policy on determination of materiality information

The updated list of authorized personnel for determining materiality and making disclosures to stock exchanges under regulation 30(5) of SEBI Listing Regulations now includes:

  • Mr. Amitabha Banerjee (Whole Time Director)
  • Mr. Manoj Kumar Sharma (Chief Executive Officer)
  • Mr. Ashish Maheshwari (Chief Financial Officer)
  • Mr. Akshit Soni (Company Secretary & Compliance Officer)

Strategic or Business Context

The change in CFO position results from "evolution in the role and requirements of the Finance function" as stated in the relinquishment letter. The outgoing CFO will continue to contribute his experience and expertise in the Finance & Accounts department as a senior professional, indicating a planned transition rather than a complete departure.

The new CFO brings extensive experience in large-scale infrastructure, power, and renewable energy projects, which aligns with IRM Energy's sector focus.

Any Other Material Information

Regulatory Compliance: The disclosure is made pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and references the updated SEBI Master Circular bearing No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Company Details: IRM Energy Limited, CIN: L40100GJ2015PLC085213, Registered Office: 4th Floor, 8th Block, Magnet Corporate Park, Near Sola Bridge, S.G. Highway, Thaltej, Ahmedabad, Gujarat-380054, India

Scrip Symbols: NSE: IRMENERGY, BSE: 544004

Contact Information: Tel: 079 49031500, Email: investor.relations@irmenergy.com