Ravalgaon Sugar Farm 91st AGM Director Reappointments

AGM Details

The 91st Annual General Meeting will be held on Wednesday, September 16, 2026 at 2:00 p.m. (IST) through Video Conferencing (VC)/Other Audio Visual Means (OAVM). The corporate office of the company at Ravalgaon, Taluka Malegaon, Nashik – 423108, Maharashtra shall be the deemed venue.

Business to be Transacted

Ordinary Business:

1. To receive, consider and adopt the Audited Financial Statements of the Company for the Financial Year ended March 31, 2026, including the Audited Balance Sheet as on March 31, 2026, the statement of Profit & Loss and the Cash Flow Statement for the year ended on that date together with the Reports of the Board of Directors and Auditors thereon.

2. To appoint a Director in place of Mr. Nihal Doshi (DIN: 00246749), Director of the Company, who retires by rotation in terms of Section 152(6) of the Companies Act, 2013 and, being eligible, offers himself for re-appointment.

Special Business:

3. Re-appointment of Mr. Nihal Doshi as Executive Director: Ordinary Resolution for re-appointment as Executive Director for a further term of three years effective January 1, 2027 up to December 31, 2029.

Remuneration proposed: Total remuneration of ₹2,50,000 per month (₹30 lakhs annually)
Includes perquisites: Club membership reimbursement (max 2 clubs), medical/accident insurance (premium not exceeding ₹1,25,000 p.a.), car with driver for official purposes, telephone/fax facilities
Company contribution to PF/superannuation fund, gratuity as per company rules
One month leave with full pay for every 11 months service, with encashment of accumulated leave
Termination requires three-month notice from either side

4. Re-appointment of Mr. Rajiv Jain as Independent Director: Special Resolution for re-appointment as Non-Executive Independent Director for a second term effective September 16, 2026 up to February 3, 2031.

Entitled to sitting fees for Board/committee meetings as decided by Board
No other remuneration specified

5. Re-appointment of Mr. Subodh Mawalankar as Independent Director: Special Resolution for re-appointment as Non-Executive Independent Director for a second term effective February 11, 2027 up to February 10, 2032.

Entitled to sitting fees for Board/committee meetings as decided by Board
No other remuneration specified

Financial Performance Context (Explanatory Statement)

The explanatory statement provides financial context for Mr. Nihal Doshi's reappointment:

| Particular | 2025-26 | 2024-25 | 2023-24 |

Reasons for inadequate profits: Manufacturing operations were suspended during FY 2024-25 and FY 2025-26 following the sale, transfer and assignment of the Company's confectionery trademarks, recipes and associated intellectual property rights to Reliance Consumer Products Limited in March 2024. The absence of manufacturing revenue meant fixed costs could not be absorbed.

Strategic direction: The Company is actively evaluating alternative uses for its manufacturing and ancillary assets and other strategic directions that may leverage its existing assets, agricultural relationships, and operational infrastructure. Until a clear strategic path is identified, revenues and operating activity are expected to remain at nominal levels.

Voting Information

Cut-off date: Wednesday, September 9, 2026
Remote e-voting period: Saturday, September 12, 2026 (9:00 AM IST) to Tuesday, September 15, 2026 (5:00 PM IST)
E-voting service provider: Central Depository Services (India) Limited (CDSL)
Scrutinizer: CS Sandhya Malhotra, partner at M/s. Manish Ghia & Associates, Company Secretaries
Results declaration: Within 2 working days of conclusion of meeting on company website and CDSL website

Shareholder Participation

Members can join the AGM via VC/OAVM 15 minutes before/after scheduled time
Facility available to first 1000 members on first-come-first-served basis (excludes large shareholders holding 2%+, promoters, institutional investors, directors, KMP, committee chairpersons, auditors)
Members wishing to speak must register by September 9, 2026
Quorum will be counted based on VC/OAVM attendance

Director Background Information

Mr. Nihal Doshi:

Executive Director since 2008, CFO since 2020
Qualification: B.Sc. in Economics from Wharton School, University of Pennsylvania
Previous experience: Associate at Quadrangle Group (Private Equity), Credit Suisse M&A group
Current remuneration: ₹18 lakhs p.a. (last three years)
Shareholding: 1,455 equity shares
Committee memberships: Audit Committee, Stakeholders' Relationship Committee

Mr. Rajiv Jain:

Independent Director since February 4, 2021
Qualification: Chartered Accountant, Economic Honors from Shri Ram College of Commerce
Experience: 35+ years in banking & financial services (Bank of America, ING Vysya Bank, JP Morgan)
Current directorship: J.P. Morgan Securities India Private Limited
Committee memberships: Audit Committee, Stakeholders' Relationship Committee, Nomination and Remuneration Committee

Mr. Subodh Mawalankar:

Independent Director since February 11, 2022
Qualification: Member of Institute of Cost Accountants of India (Membership No. 9041)
Experience: Practicing Cost Accountant and Financial Advisor for over 40 years
Committee memberships: Nomination and Remuneration Committee, Audit Committee