PG Electroplast Limited disclosed outcomes from the October 24, 2026 Board meeting of its wholly owned step-down subsidiary, Next Generation Manufacturers Private Limited (NGM), pursuant to SEBI Listing Regulations Regulation 30.
The Board of Directors of NGM noted and approved three key items:
1. Appointment of Independent Director: Mrs. Ruchika Bansal (DIN: 06505221) was appointed as Non-Executive Independent Director of NGM. Her term is for five years effective from October 24, 2026. Her profile indicates she is a Management Consultant with over 23 years' experience specializing in wealth advisory, investment banking, private equity, corporate finance, business strategy, mergers & acquisitions, and private equity syndication. She is a Commerce graduate from SRCC (Delhi University) and holds a Postgraduate Diploma in management from MDI, Gurgaon. She is not related to any existing director on NGM's Board and is not debarred from holding director office.
2. Resignation of Statutory Auditor: The Board accepted the resignation tendered by M/s. M.S. Barmecha & Co., Chartered Accountants (Firm Registration No. 101029W) as Statutory Auditors of NGM. The resignation was effective from the conclusion of the October 24, 2026 Board meeting. The auditor's resignation letter, dated October 23, 2026, stated the reason was NGM's intention to align its auditors with those of its parent company (PG Electroplast Limited). M.S. Barmecha & Co. had been appointed on September 30, 2024, for a term ending March 31, 2029. They completed the statutory audit for FY ended March 31, 2026 (report issued May 11, 2026) and the limited review for quarter/half year ended September 30, 2026 (report to be issued October 24, 2026). The auditor confirmed no concerns were raised prior to resignation, no information was withheld by management, and no alternative audit procedures were required.
3. Appointment of New Statutory Auditor: The Board took note of and approved the appointment of M/s. B S R & Co. LLP, Chartered Accountants (Firm Registration No: 101248W/W-100022) as the new Statutory Auditors of NGM. The appointment is for a term of five years, effective October 24, 2026, but is subject to approval by NGM's shareholders. The rationale provided was to align and consolidate the statutory auditors of subsidiary companies with the auditors of the parent company. B S R & Co. LLP was constituted on March 27, 1990, and converted to an LLP on October 14, 2013. Its registered office is at 14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Centre, Western Express Highway, Goregaon (East), Mumbai-400063. The firm has over 4000 staff and 170+ Partners across 14 locations and audits various listed companies in India, including manufacturing sector companies.
The Board placed on record its appreciation for the professional services rendered by M.S. Barmecha & Co. during their tenure.
The disclosure was made pursuant to Regulation 30 of SEBI LODR Regulations and SEBI Master Circular No. HO/49/14/14(7)2025- CFD-POD2/I/3762/2026 dated January 30, 2026. It was signed by Deepesh Kedia, Company Secretary of PG Electroplast Limited, on October 24, 2026.