Management Changes Effective July 1, 2026

  • Mr. Manish Mehta has changed designation from Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) to Vice President-Taxation & Compliance in the category of Senior Management Personnel. Consequently, he has ceased from the position of CFO and KMP of the Company.
  • Mr. Bharat Goyal has been appointed as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the Company.

Background and Rationale

The changes were previously communicated to the exchanges on May 23, 2026, and become effective from July 1, 2026. The Board undertook a deliberate review for strategic organizational restructuring with focus on effective succession planning as the Company continues to scale its operations across STUDDS and SMK brands with increasing geographic reach and business complexity.

Detailed Particulars - Mr. Manish Mehta

  • Reason for change: Designation change from CFO/KMP to Vice President-Taxation & Compliance in senior management
  • Date of cessation: July 1, 2026 (as CFO/KMP)
  • New role effective: July 1, 2026 (as Vice President-Taxation & Compliance)
  • Profile: Chartered Accountant with over 22 years of professional experience across taxation, finance, and corporate compliance. Previously served as CFO responsible for overall financial management, statutory compliance, and strategic financial planning. Expertise in direct and indirect tax laws, transfer pricing, tax assessments and litigation, and corporate regulatory frameworks. In new role, will oversee the Company's direct and indirect taxation matters and related regulatory compliances and advisory functions.

Detailed Particulars - Mr. Bharat Goyal

  • Reason for change: Appointment as CFO and KMP
  • Date of appointment: July 1, 2026
  • Profile: Chartered Accountant from ICAI with over 17 years of experience in financial control, statutory reporting, treasury management, budgeting, and strategic financial management. Previously held senior positions at Tata 1mg Technologies Private Limited (AGM – Financial Control & Statutory Reporting), Studds Accessories Limited (Finance Controller / DGM – Finance), Daikin Airconditioning India Private Limited (Head – Accounts & Finance), and Honda Cars India Limited (across Revenue Accounting, Fixed Assets & Budget, and Banking & Treasury functions). Core expertise spans financial controlling, SAP S/4 HANA implementation, finance automation, budgeting and forecasting, variance analysis, capital structure management, investor relations, and strategic decision support. Will be responsible for upholding financial discipline, instituting scalable financial systems, reinforcing internal controls and governance frameworks, advancing finance operations through automation and process improvements, and driving forward-looking financial strategy.

Additional Information

The intimation is available on the Company's website at www.studds.com under Investor Relations section. The specific webpage for disclosure of contact details of key managerial personnel is: https://www.studds.com/investor-relations/disclosure-of-contact-details-of-keymanagerial-personnel-who-are-authorized-for-the-purpose-of-determining-materiality-ofan-event-or-information-and-for-the-disclosure-to-stock-exchanges