Scrip Symbol / Code: MWL (NSE), 544764 (BSE)

Date: June 02, 2026

Change in Director / Key Managerial Personnel

  • Nature of change: Appointment of Mr. Pankaj Kumar Sahay as Europe Business Head for the Company
  • Name and DIN: Mr. Pankaj Kumar Sahay (DIN not disclosed in the filing)
  • Effective date: June 01, 2026
  • Profile and qualifications: Mr. Sahay has over 25 years of experience in global business development, cross-border commercial operations, and EU trade regulations. He previously served as Chief Executive Officer and Board Member of Iberjindal S.L., Spain, and led the European operations of Jindal Stainless Limited. He holds a B.Tech in Manufacturing Engineering from the National Institute of Advanced Manufacturing Technology, Ranchi (formerly the National Institute of Foundry and Forge Technology), and an MBA in Marketing from SMU.
  • Eligibility confirmation: The disclosure states compliance with SEBI Listing Regulations but does not provide specific eligibility declarations
  • Relationship with other directors: Mr. Sahay is not related to Promoters or any members of Board of Directors of the Company or their relatives
  • Previous KMP: The filing does not mention who held the position earlier or the nature of their exit
  • Governance implications: As Europe Business Head, Mr. Sahay will lead the company's European expansion initiatives

Key Financial or Operational Approvals

  • The Board of Directors approved the appointment via Circular Resolution based on recommendation of Nomination and Remuneration Committee
  • No financial results, fundraising, or other financial approvals were disclosed in this filing

Strategic or Business Context

  • Company is in process of incorporation of a Wholly Owned Subsidiary in Belgium/Netherlands Country in Europe
  • Mr. Sahay will also be appointed as a Director in the proposed European subsidiary once formed
  • The appointment supports the company's European market expansion strategy
  • Mr. Sahay brings strong combination of leadership capability, commercial acumen, entrepreneurial perspective, and deep European market knowledge to the organization

Any Other Material Information

  • Regulatory compliance: Disclosure made pursuant to Regulation 30 and 51 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated July 11, 2023 (updated January 30, 2026)
  • Shareholding: Mr. Sahay holds no shares in the Company
  • The filing was signed by Soham Bipinchandra Raval, Company Secretary & Compliance Officer (Membership No.: A34154)