Summary of Key Information:

Nature of Filing / Announcement: Disclosures under Regulation 30 and 30A of SEBI Listing Regulations

Date of Board Meeting / Approval: September 29, 2026 (Meeting held from 04:00 P.M. to 5:15 P.M.)

Audit Opinion: Not Specified

Auditor's Comment: Not Specified

Key Financial Highlights:

Not Specified

Corporate Actions:

Change in Ownership:

  • Completion of sale of 2,38,44,000 equity shares (64.26% of paid-up equity share capital) by promoters to Indo Borax & Chemicals Limited
  • Sale completed on September 29, 2026 pursuant to share purchase agreement dated August 20, 2026
  • Sellers now collectively hold 36,90,000 equity shares (9.95% of voting share capital)
  • All sellers ceased to be members of promoter/promoter group effective September 29, 2026

Director Appointments (Effective September 29, 2026, subject to shareholder approval):

  • Mr. Suresh Kalra (DIN: 02833715) as Managing Director and CEO for 5 years
  • Mr. Sunil Malhotra (DIN: 00361641) as Whole-time Director for 5 years (liable to retire by rotation)
  • Mr. Harsh Malhotra (DIN: 10785742) as Executive Director for 5 years (liable to retire by rotation)
  • Mr. Amit Kumar Sharma (DIN: 10464060) as Non-Executive Independent Director for 5 years
  • Ms. Anuradha Suneet Maheshwari (DIN: 02689682) as Non-Executive Independent Director for 5 years
  • Mr. Dhananjay Tapasvi (DIN: 03309900) as Non-Executive Independent Director for 5 years

Key Managerial Personnel Appointment:

  • Mr. Shashikant Bharuka appointed as Chief Financial Officer for 5 years effective September 29, 2026

Resignations (All effective September 29, 2026):

  • Mr. Jogindersingh Gianchand Jaswal - Managing Director (effective immediately)
  • Mr. Ketan Vinodchandra Ramani - Executive Director (effective immediately)
  • Mr. Pritesh Vinodchandra Ramani - Executive Director (effective immediately)
  • Mr. Samir Gadhiya - Chief Financial Officer (effective immediately)
  • Mr. Parth Shah - Independent Director (effective closure of business)
  • Ms. Krutika Arunkumar Negandhi - Independent Director (effective closure of business)
  • Mr. Satish Kumar - Independent Director (effective closure of business)

Consultancy Agreements:

  • Executed with Mr. Jogindersingh Gianchand Jaswal, Mr. Ketan Ramani, and Mr. Pritesh Vinodchandra Ramani
  • 36-month term for transition support services related to R&D, production, quality assurance, and special projects
  • Aggregate fixed consultancy fee of ₹2,10,00,000 (₹2.10 crore) for each consultant
  • 24-month lock-in period with early termination liability provisions
  • Classified as related party transactions conducted at arm's length

Other Significant Information:

Shareholding of Former Promoters Post-Transaction:

  • Mr. Jogindersingh Gianchand Jaswal: 12,30,000 shares (3.315%)
  • Mr. Ketan Ramani: 12,30,000 shares (3.315%)
  • Mr. Pritesh Vinodchandra Ramani: 12,30,000 shares (3.315%)

Professional Backgrounds of New Appointees:

  • Mr. Suresh Kalra: 25+ years in chemicals industry, former CEO of Aquapharm Chemical Limited, ex-MD of Huber group Germany
  • Mr. Sunil Malhotra: Seasoned entrepreneur with 38 years experience, active investor and partner at She Capital LLP
  • Mr. Harsh Malhotra: Former Amazon executive with 10 years in supply chain and business operations
  • Mr. Amit Kumar Sharma: Former General Manager at Bank of Maharashtra with 25+ years banking experience
  • Ms. Anuradha Suneet Maheshwari: Legal professional with 26 years experience, founder of Lex Mantis
  • Mr. Dhananjay Tapasvi: Seasoned business leader with 30+ years experience, former MD of Owens Corning India and Johnson Matthey
  • Mr. Shashikant Bharuka: Chartered Accountant and Company Secretary with 24+ years experience in finance and accounts