Key Event Details

  • Event: Appointment of Mr. Mahesh M. (DIN: 09796548) as an Additional Independent Director.
  • Effective Date: The appointment is effective from July 03, 2026.
  • Term: The term is for five consecutive years, from July 03, 2026, to July 02, 2031 (both days inclusive).
  • Approval Authority: The appointment was approved by the Board of Directors via a circular resolution, based on the recommendation of the Nomination & Remuneration Committee.
  • Condition: The appointment is subject to the subsequent approval of the shareholders of the Company.

Director Profile

  • Name: Mr. Mahesh M.
  • Experience: A senior industry leader with approximately 33 years of experience across project and product-led businesses.
  • Expertise: Includes category development, brand alliances, business creation, turnaround assignments, and growth leadership. His track record involves building concepts and businesses from the ground up, establishing systems and processes, and leading customer-facing operating environments across multiple business formats.
  • Current Role: CEO and sector head of Creativity, where he has led the development of one of India's leading home and furniture destinations.
  • Previous Roles: Includes senior positions with HomeTown, Style Spa Furniture, and BP Ergo/VIP Industries.
  • Education: Holds a Ph.D. in Management (Marketing) from IBS Hyderabad, with research focused on omnichannel retailing in the furniture category.
  • Areas of Expertise: Business strategy, retail transformation, category development, sales and marketing, consumer behaviour, and growth management.

Governance and Compliance Details

  • Relationship Disclosure: Mr. Mahesh M. is not related to any of the existing Directors of the Company.
  • Eligibility Check: He is not debarred from holding the office of Director by any SEBI order or any other authority.
  • Regulatory References: The disclosure is made pursuant to:
  • Regulation 30 read with Part A of Schedule III of the SEBI Listing Regulations.
  • SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.
  • BSE circular no. LIST/COMP/14/2018-19 and NSE circular no. NSE/CML/2018/24 dated June 20, 2018.
  • Company Contact: Charu Srivastava, Company Secretary & Compliance Officer (ACS No. 27108).
  • Information Availability: The details have been made available on the company's website at www.praxisretail.in.

Financial and Operational Impact

Financial impact not quantified in the disclosure. The appointment is a governance action with no immediate disclosed impact on capital structure, cash flow, or financial performance.