Board approves unaudited Q2/H1 results, raises authorised share capital, appoints Deputy MD and Independent Director

Board authorised MD Mr. Deepak Kejriwal, Deputy MD Mr. Shailendra Jhalani and CS Ms. Neha Kejriwal to decide materiality of events.

Sat 3 Oct 2026

Authorised share capital

Rs. 121,00,00,000

Unaudited results approved for

quarter and half year ended September 30, 2026

Board meeting date

Saturday, October 03, 2026

KMPs authorised for materiality

MD Mr. Deepak Kejriwal, Deputy MD Mr. Shailendra Jhalani and CS Ms. Neha Kejriwal

Deputy MD appointment

Whole-time Director (designated Deputy Managing Director) for three consecutive years from October 04, 2026

What the board approved

The board met on Saturday, October 03, 2026 from 3:36 P.M. to 3:53 P.M. (IST) and considered and approved several matters. First among them was the unaudited financial results for the quarter and half year ended September 30, 2026, as recommended by the Audit Committee, accompanied by a Limited Review Report from M/s K.N. Gutgutia & Co, Chartered Accountants, the statutory auditors.

Change at the top

• Mr. Shailendra Jhalani has tendered his resignation from the position of Chief Financial Officer with effect from October 03, 2026.
• The update states this is consequent to his proposed appointment as a Whole-time Director with effect from October 04, 2026.
• The board approved his appointment as an Additional Director with effect from October 04, 2026, holding office until the date of the next General Meeting or for three months from the date of appointment, whichever is earlier.
• He has also been approved as Whole-time Director, designated Deputy Managing Director, and Key Managerial Personnel for three consecutive years from October 04, 2026 to October 03, 2029 (both days inclusive), subject to the approval of members.
• Per the update, he heads all commercial activities including marketing and production of the Insulators & Electricals Company (IEC) unit, has over 27 years of professional experience in managing an industrial unit, is a Chartered Accountant and graduated from Shriram College of Commerce, Delhi University.
• The update states he is not debarred from holding the office of Director by virtue of any SEBI order or order of any other such authority.

New independent director

• Mr. Mool Chand Gauba (DIN: 02942664) has been approved as an Additional Director in the category of Non-Executive Independent Director, holding office until the date of the next General Meeting or for three months from the date of appointment, whichever is earlier.
• His term as Non-Executive, Independent Director is for a first term of 5 (five) consecutive years from October 03, 2026 to October 02, 2031 (both days inclusive), subject to the approval of members.
• Per the update, he is a Qualified Certified Associate of Indian Institute of Bankers (CAIIB) and an associate member of the Indian Institute of Banking and Finance, with wide experience in banking, financial management and corporate finance.
• The update also states he is not debarred from holding the office of Director by virtue of any SEBI order or order of any other such authority.

Authorised share capital goes up

• The existing Authorised Share Capital of Rs. 108,50,00,000 divided into 5,50,00,000 equity shares of Rs. 2 each and 9,75,00,000 preference shares of Rs. 10 each.
• This has increased to Rs. 121,00,00,000 divided into 11,75,00,000 equity shares of Rs. 2 each and 9,75,00,000 preference shares of Rs. 10 each.
• The increase is by alteration in the Capital Clause, Clause V, of the Memorandum of Association, and is subject to the approval of the shareholders and any regulatory or statutory approvals as may be required.
• For a novice reader: authorised share capital is the ceiling up to which a company may issue shares. It is not money already raised, and it does not by itself mean fresh shares have been issued.

Who decides what is material

The board authorised three Key Managerial Personnel under Regulation 30(5) for determining the materiality of an event or information: Mr. Deepak Kejriwal (Managing Director), Mr. Shailendra Jhalani (Whole-time Director, designated Deputy Managing Director) and Ms. Neha Kejriwal (Company Secretary & Compliance Officer).

Senior Management Personnel

Consequent to the resignation of Mr. Shailendra Jhalani as Chief Financial Officer, four officials have been identified and designated as Senior Management Personnel:

• Ms. Neha Kejriwal, Company Secretary & Compliance Officer
• Mr. M. Rajan, Senior Vice President-Plant (Production Head)
• Mr. Ravi Singh, Vice President-Marketing (Marketing Head)
• Mr. Vijay Vishal Sharma, Asst. General Manager-Legal (Legal Head)

Conductor unit

The company is evaluating to strengthen the operations of its Conductor Unit-Gwalior, with a view to optimising the utilisation of the existing facilities, augmenting operational capabilities and leveraging emerging business opportunities in the conductor segment.

Points a retail investor may note

• The CFO position change is linked in the update to a board-level appointment of the same person, and he continues as a Whole-time Director and KMP.
• Two board-level appointments and the senior management designations are subject to the terms stated, with the directorship terms noted as subject to members' approval.
• The authorised share capital change is a ceiling increase routed through an alteration of the Memorandum of Association, subject to shareholder and regulatory approvals.

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