Board approves appointment of Ramesh Nair as Additional Director; reconstitutes 3 committees

Board approved Mr. Ramesh Nair as Additional Director (Non-Executive Independent) w.e.f. October 12, 2026, proposed for 5 years, subject to shareholder approval.

Mon 12 Oct 2026

Director Appointed

Mr. Ramesh Nair as Additional Director (Non-Executive Independent) w.e.f. October 12, 2026

Proposed Term

5 years, subject to shareholder approval

Committees Reconstituted

Audit, Nomination & Remuneration and Stakeholders Relationship Committees

The company informed the exchange of the outcome of its board meeting held on Monday, 12th October, 2026. The meeting commenced at 03:00 P.M. and concluded at 03:45 P.M. Two items were approved.

The new director

• Mr. Ramesh Nair (DIN: 01227351) was appointed as an Additional Director in the category of Non-Executive Independent Director with effect from October 12, 2026.
• The appointment is proposed for a period of 5 (Five) years from today, subject to the approval of shareholders at the ensuing General Meeting.
• The appointment was made on the recommendation of the Nomination and Remuneration Committee.
• The update states that he satisfies the criteria of independence under the Companies Act, 2013 and the SEBI Listing Regulations, and that he is not debarred from holding the office of Director by any order passed by SEBI or any other such authority.
• Mr. Ramesh Nair is not related to any Director of the Company.
• His profile: Bachelor of Commerce (B.Com.) from the University of Calicut, Kerala, obtained in 1990, with over 30 years of experience in the textile industry and association with various companies in the sector since 1994. His stated expertise covers general management, legal affairs and management-related matters.

Committee reconstitution

• Three committees of the board were reconstituted: the Audit Committee, the Nomination and Remuneration Committee and the Stakeholders Relationship Committee.
• All three committees have the same three members, each shown as a Non-Executive Independent Director: Mr. Sudhir Kumar Asthana (DIN: 10846983) as Chairperson, and Mr. Ramesh Nair (DIN: 01227351) and Mr. Kathan Ronak Joshi (DIN: 11952378) as Members.

What this update is about

• This is a board-outcome disclosure covering a change in the board and in the membership of its key committees.
• The director's appointment is proposed for 5 years but is subject to shareholders' approval at the general meeting, so the position is currently as an Additional Director appointed by the board.
• A person entering the board also becomes a member of the Audit Committee, the Nomination and Remuneration Committee and the Stakeholders Relationship Committee, so all three committees carry the same three independent members.

How a retail investor may read it

• Board and committee changes are governance events. The update does not change the company's day-to-day business by itself.
• The disclosure records the director's background in the textile industry and his stated independence, which are the points typically considered when such an appointment is placed before shareholders.
• The shareholder vote at the general meeting is the next step for the 5-year term to be confirmed.

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