Key Changes Approved by Board

The Board of Directors of RHI Magnesita India Limited, in its meeting held on 30 June 2026, approved the following changes:

1. Mr. Parmod Sagar (DIN: 06500871) resigned as Managing Director & Chief Executive Officer with effect from end of day 30 June 2026. His designation changed from Executive Director to Non-Executive Director, and he will continue as Chairman of the Company effective 1 July 2026.

2. Mr. Pankaj Malhan (DIN: 08516185) was appointed as Managing Director & Chief Executive Officer with effect from 1 July 2026 for a term of 5 years, subject to shareholder approval.

3. Mr. Azim Syed (DIN: 10641934) resigned as Whole-time Director with effect from end of day 30 June 2026 but will continue as Chief Financial Officer of the Company effective 1 July 2026.

Key Managerial Personnel (KMP) Changes

Effective 1 July 2026, the revised list of KMPs is:

  • Mr. Pankaj Malhan, Managing Director & CEO
  • Mr. Azim Syed, Chief Financial Officer
  • Mr. Sanjay Kumar, Company Secretary

Mr. Parmod Sagar ceased to be a KMP effective end of day 30 June 2026.

CSR Committee Reconstitution

Post resignation of Mr. Azim Syed as Member of CSR Committee, Mr. Pankaj Malhan was appointed as Member. The revised CSR Committee composition is:

  • Ms. Sonu Chadha (Chairperson)
  • Mr. Parmod Sagar (Member)
  • Mr. Pankaj Malhan (Member)

Material Subsidiary Update

The Board of RHI Magnesita India Refractories Limited (material subsidiary) also approved on 30 June 2026:

  • Resignation of Mr. Parmod Sagar as Chairman, Managing Director & CEO effective end of day 30 June 2026
  • Appointment of Mr. Pankaj Malhan as Managing Director & CEO effective 1 July 2026

Reason for Resignations

The disclosure states there is no reason for the resignations of Mr. Parmod Sagar and Mr. Azim Syed other than those specified in their resignation letters (personal reasons).

Annexure Details

  • Annexure A: Details of Mr. Parmod Sagar's change in designation (reason: change in designation, effective date: 30 June 2026)
  • Annexure B: Mr. Pankaj Malhan's appointment details including extensive professional background spanning three decades in steel, manufacturing, industrial materials, and infrastructure sectors. His qualifications include B.Tech in Instrumentation and Control from Dr. B.R. Ambedkar National Institute of Technology Jalandhar and PG in Business Management from XLRI Jamshedpur. Previous board positions include JSW Steel Coated Products Limited, ESL Steel Limited, and Ferro Alloys Corporation Limited.
  • Annexure C: Details of Mr. Azim Syed's resignation as Whole-time Director (reason: resignation, effective date: 30 June 2026)
  • Annexure D: Contains resignation letters of both Mr. Parmod Sagar and Mr. Azim Syed citing personal reasons as the cause for their respective resignations from executive positions.

Financial Impact

No financial impact quantified in the disclosure.