Summary of Key Information:

Reporting Period (Quarter/Year): Not Specified

Nature of Filing / Announcement: Outcome of Board Meeting under SEBI LODR Regulations

Audit Opinion:

Not Specified

Key Financial Highlights:

Not Specified

Corporate Actions:

  • Approved grant of 12,50,000 Employee Stock Options to eligible employees under MIRC Electronics Employee Stock Option Plan, 2023
  • Each option exercisable for one equity share of Re. 1/- each
  • Exercise price: 30% discount of closing share price of June 25, 2026 per option per share, but not lower than exercise price for option granted on May 20, 2026
  • Options vest upon achievement of performance milestones with minimum vesting period of 1 year
  • Vested options may be exercised within 2 years from vesting date

Director Appointments:

1. Mr. Jayesh Gandhi (DIN: 00221855) appointed as Additional Director (Independent Director) for five years effective July 04, 2026, subject to shareholder approval

  • Fellow Chartered Accountant with four decades of experience in audit, assurance, financial advisory
  • Former engagement partner for ICICI Group, Wipro Group, Tata group, RPG group, and Raheja group
  • Former director of Sanofi Pharma, ICICI Home Finance, SBI Asset Management Company, Sabero Organics Limited

2. Mr. Gunjan Srivastava (DIN: 06396248) appointed as Chief Executive Officer and Additional & Managing Director effective July 04, 2026, subject to shareholder approval

  • B.Tech (Hons) Mechanical Engineering from IIT (BHU), Varanasi; MBA from IIM Ahmedabad
  • 33 years experience across consumer and technology brands in India, Asia-Pacific, and Europe
  • Previously CEO of BSH Home Appliances UK & Ireland for six years
  • Has been serving as CEO of Onida since February 01, 2026

3. Mr. Manish Desai (DIN: 09740266) appointed as Additional Director, Chief Financial Officer, and Whole-time Director effective July 04, 2026, subject to shareholder approval

  • Chartered Accountant with nearly 30 years experience in corporate finance, treasury management, taxation
  • Previously held senior positions at VIP Industries, Voltas, MIRC Electronics, Avenue Supermarts, BPL Mobile
  • Term: Three years as Whole-time Director

Designation Change:

  • Mr. Kaval Mirchandani (DIN: 01179978) designation changed from Managing Director to Whole-time Director effective July 04, 2026, subject to shareholder approval
  • Continues for remainder of existing term
  • Brother of Mr. Sasha G. Mirchandani (Non-Executive Director) and nephew of Mr. Vijay Mansukhani (Managing Director)

Resignation:

  • Mr. Shirish Suvagia (DIN: 10095690) resigned as Whole Time Director and Chief Financial Officer effective close of business hours on July 03, 2026
  • Confirmed no material reasons for resignation beyond those mentioned in resignation letter

Other Significant Information:

All appointments subject to approval of Members of the Company and compliance with Companies Act, 2013 and SEBI LODR Regulations