1. Regularization and Appointment of Smt. Naina Devi Jhunjhunwala
Nature of change: Regularization as Director and appointment as Whole-Time Director
Name and DIN: Smt. Naina Devi Jhunjhunwala (DIN 01837824)
Effective date and tenure: Appointed as Director in Board Meeting held on May 18, 2026; Regularization and appointment as Whole-Time Director approved by shareholders in AGM on July 28, 2026 for 3 years commencing from August 1, 2026
Brief profile: Holds a Bachelor's degree in Arts from Kolkata. Brings over 35 years of extensive business experience, has served as Director in various organisations, and is widely recognised as a philanthropist and successful entrepreneur
Relationship with other directors: Mother of Mr. Aditya Jhunjhunwala (Managing Director) and Mr. Sanjay Jhunjhunwala (Whole-time Director)
Eligibility confirmation: Not debarred from holding office of Director by virtue of any SEBI order or any other such authority
2. Re-appointment of Mr. Aditya Jhunjhunwala as Managing Director
Nature of change: Re-appointment as Managing Director
Name and DIN: Mr. Aditya Jhunjhunwala (DIN: 01686189)
Effective date and tenure: With effect from April 1, 2027 for a further period of three years. Approved by shareholders in AGM on July 28, 2026 based on Board Meeting recommendation on May 18, 2026
Brief profile: Has about 35 years of business experience mainly in Sugar and Power. Looking after the overall operations of the Company. Has served as president of Indian Sugar Mills association in past
Relationship with other directors: Son of Smt. Naina Devi Jhunjhunwala (Chairman) and brother of Shri Sanjay Jhunjhunwala (Jt. Managing Director)
Eligibility confirmation: Not debarred from holding office of Director by virtue of any SEBI order or any other such authority
3. Re-appointment of Mr. Sanjay Jhunjhunwala as Joint Managing Director
Nature of change: Re-appointment as Joint-Managing Director
Name and DIN: Mr. Sanjay Jhunjhunwala (DIN: 01777954)
Effective date and tenure: With effect from April 1, 2027 for a further period of three years. Approved by shareholders in AGM on July 28, 2026 based on Board Meeting recommendation on May 18, 2026
Brief profile: Responsible for the overall operations of the Distillery Unit of the Company. Has more than 27 years of experience in the sugar industry and has implemented modern management techniques which have proved immensely beneficial to the Company
Relationship with other directors: Son of Smt. Naina Devi Jhunjhunwala (Director) and brother of Shri Aditya Jhunjhunwala (Managing Director)
Eligibility confirmation: Not debarred from holding office of Director by virtue of any SEBI order or any other such authority
4. Re-appointment of Mr. S. C. Agarwal as Executive Director cum CEO
Nature of change: Re-appointment as Executive Director cum CEO
Name and DIN: Mr. S. C. Agarwal (DIN: 02461954)
Effective date and tenure: With effect from April 1, 2027 for a further period of three years. Approved by shareholders in AGM on July 28, 2026 based on Board Meeting recommendation on May 18, 2026
Brief profile: Science Graduate and Sugar Technologist from the National Sugar Institute, Kanpur (NSI). Started career from production lines and worked for many renowned organizations. Joined Piccadily Agro Industries as General Manager in 1997. Executive Director since 2001 at KM Sugar. Key person who implements management policies decisions, setting targets for outputs and ensuring their achievement. Involved in planning and coordination of various departments
Relationship with other directors: Not related to any Director / Key Managerial Personnel
Eligibility confirmation: Not debarred from holding office of Director by virtue of any SEBI order or any other such authority
5. Changes in terms for Mr. Vatsal Jhunjhunwala
Nature of change: Change in terms of appointment and remuneration for office/place of profit as Vice President
Name: Mr. Vatsal Jhunjhunwala
Remuneration: Monthly remuneration not exceeding INR 10,00,000/-
Legal basis: Provisions of clause (f) of sub-section (1) of section 188 of the Companies Act, 2013 read with Rule 15(3)(b) of the Companies (Meetings of Board and its Powers) Rules, 2014
Relationship: Son of the Managing Director Shri Aditya Jhunjhunwala and related party under Section 2(76) of Companies Act, 2013
6. Continuation of Mr. Sushil Solomon as Non-Executive Independent Director
Nature of change: Continuation as Non-Executive Independent Director beyond age 75
Name and DIN: Mr. Sushil Solomon (DIN: 08553009)
Effective date and tenure: Will attain age 75 on December 21, 2026. Continued as Non-Executive Independent Director for remaining term of office up to August 5, 2029. Originally re-appointed by shareholder on August 3, 2024 based on recommendation on May 21, 2024
Brief profile: Has devoted over 37 years to advancing scientific research, teaching, and guiding the sugarcane and sugar industry. Honored with numerous international awards including Friendship Award, Jin Xiu Qui Award, and IAPSIT Global Award of Excellence, as well as national recognitions such as Indira Gandhi Purushkar, Dr. Rajendra Prasad Award, and Rajiv Gandhi Rashtriya Gyan Vigyan Puraskar conferred by President of India. Fellow of leading professional associations, held positions including President of Society for Sugar Research and Promotion and Editor in Chief of Sugar Tech Journal
Relationship with other directors: Not related to any Director / Key Managerial Personnel
Eligibility confirmation: Not debarred from holding office of Director by virtue of any SEBI order or any other such authority
