Change in Director / Key Managerial Personnel

Cessation of Directors:

  • Mr. Venkata Appala Narasimha Raju Kalidindi (DIN: 08835460) ceased as Independent Director and Chairperson of the Board effective 29 September 2026 upon completion of his second consecutive term as Independent Director.
  • Mr. Jagannatha Prasad Malireddy (DIN: 08835457) ceased as Independent Director effective 29 September 2026 upon completion of tenure.

Appointment of New Directors:

  • Mr. Venkata Madhusudhana Rao Paladugu (DIN: 08644451) was appointed as Non-Executive - Independent Director for a term of five years effective 29 September 2026. He is a Chartered Accountant with professional experience in finance, accounting and business management.
  • Mr. Jitesh Raghu Mullapudi (DIN: 11878436) was appointed as Non-Executive - Non-Independent Director effective 29 September 2026. He is an experienced business and investment professional with background in real estate development, operations and institutional real estate private equity. He holds a BBA in Business Honors and Finance (Real Estate track) from the McCombs School of Business, The University of Texas at Austin, and is pursuing Applied Computer Science from the University of Colorado Boulder. He is the son of Mr. Ramarao Atchuta Mullapudi, Managing Director of the Company.

Appointment of New Chairperson:

  • Mr. Saibaba Karuturi was appointed as Chairperson of the Board of Directors effective 29 September 2026, consequent upon the cessation of Mr. Venkata Appala Narasimha Raju Kalidindi. Mr. Karuturi is described as a competent Professional with 33 years of experience in Management and Administration in Manufacturing.

Eligibility Confirmation:

Both new appointees are confirmed as not debarred from holding the office of Director by virtue of any SEBI order or order of any other such authority.

Reconstitution of Board Committees

Effective 29 September 2026, the following Board Committees were reconstituted:

Audit Committee:

  • Chairperson: Mr. Venkata Madhusudhana Rao Paladugu (Non-Executive - Independent Director)
  • Members: Mr. Saibaba Karuturi (Non-Executive - Independent Director), Ms. Vuppuluri Sridevi (Executive Director)

Nomination and Remuneration Committee:

  • Chairperson: Mr. Saibaba Karuturi (Non-Executive - Independent Director)
  • Members: Mr. Venkata Madhusudhana Rao Paladugu (Non-Executive - Independent Director), Mr. Jitesh Raghu Mullapudi (Non-Executive - Non-Independent Director)

Stakeholders Relationship Committee:

  • Chairperson: Mr. Saibaba Karuturi (Non-Executive - Independent Director)
  • Members: Ms. Vuppuluri Sridevi (Executive Director), Mr. Jitesh Raghu Mullapudi (Non-Executive - Non-Independent Director)