Date: 01 October 2026
Board Meeting Outcomes
The Board of Directors of Stove Kraft Limited held a meeting on 01 October 2026, which commenced at 11:55 A.M. and concluded at 12:40 P.M. The following decisions were taken:
- Approved the proposal to issue a Standby Letter of Credit for Guangzhou Jiawo Import & Export Co. Ltd., a Wholly Owned Subsidiary of the Company in China. The amount of the guarantee does not exceed ₹30,00,00,000 (Thirty Crore Rupees). It will be issued in favour of an overseas bank(s) in China to provide credit facilities to the subsidiary.
- Approved the reconstitution of the Audit Committee of the Company by appointing Mr. Chandru Kalro (Non-Executive Vice Chairperson) as a member, replacing Mr. Rajendra Gandhi with immediate effect.
KMP / Board / Auditor Changes
Audit Committee Reconstitution:
The new composition of the Audit Committee is as follows:
- Mr. Natrajan Ramkrishna (Non-Executive Independent Director) - Chairperson
- Mrs. Shuba Rao Mayya (Non-Executive Independent Director) - Member
- Mr. Anup Sanmukh Shah (Non-Executive Independent Director) - Member
- Mr. Chandru Kalro (Non-Executive Vice Chairperson) - Member
Other Operational / Legal / Strategic Disclosures
Details of the Guarantee (Annexure A):
- The transaction involves issuing a Standby Letter of Credit for the wholly-owned subsidiary, Guangzhou Jiawo Import & Export Co. Ltd.
- The Promoter/Promoter Group/Group Companies have no interest in this transaction, confirming it is conducted at arm's length.
- The company states that there is presently no impact of this guarantee on the Company.
The disclosure is made pursuant to SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.