Nomination and Remuneration Committee Reconstituted After Leadership Changes

The Board has approved reconstitution of the Nomination and Remuneration Committee (NRC) with immediate effect from 30th September 2026.

Wed 30 Sep 2026

NRC Reconstitution Date

30th September 2026 with immediate effect

NRC Chairperson

Mr. Dileep Badey (Independent Director)

NRC Members

Mr. Subramanian Parameswaran (Independent Director) and Mr. Prasad V. Potluri (Non-Executive Director)

Managing Director Appointment

Mrs. P. J. Bhavani appointed Managing Director at AGM on 30th September 2026

What happened

The Board of Directors approved the reconstitution of the Nomination and Remuneration Committee (NRC) with immediate effect, at a meeting that commenced at 12:00 noon and concluded at 12.15 p.m. on 30th September, 2026.

Why the change was needed

• Mrs. P. J. Bhavani, until now a Non-Executive Woman Director, was appointed Managing Director at the Annual General Meeting held the same day. As an Executive Director she ceases to be a member of the NRC.
• Mr. Prasad V. Potluri resigned from the office of Managing Director and continues as Non-Executive Director and Chairman.

New composition of the NRC

• Mr. Dileep Badey — Independent Director — Chairperson
• Mr. Subramanian Parameswaran — Independent Director — Member
• Mr. Prasad V. Potluri — Non-Executive Director — Member

What the NRC does

The NRC recommends appointments of directors and senior management and frames policy on their remuneration. Its composition is stated to be in accordance with Section 178 of the Companies Act, 2013 and Regulation 19 of the SEBI LODR Regulations — three non-executive directors, two of whom are independent, with an Independent Director as Chairperson.

How investors may read it

This is a governance and committee-composition matter arising from a change in the executive leadership of the company. It does not by itself involve any financial transaction or business figures.

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