Board notes director resignation, appoints Additional Director; Executive Director remuneration increase approved

Board meeting outcome.

Sat 10 Oct 2026

Executive Director remuneration revised to

Rs. 1,20,00,000 per annum from Rs. 90,00,000 per annum

Remuneration revision effective date

1 August 2026

Non-Executive Director resignation and new Additional Director…

10 October 2026

What the board approved

Quest Flow Controls Limited (formerly known as Meson Valves India Limited) informed the exchanges that its Board of Directors met on Saturday, 10 October 2026 and considered and approved a set of items. The meeting commenced at 02:30 P.M. and concluded at 03:00 P.M.

• Noted the resignation of Mr. Lalit Varshney (DIN: 10689838) as Non-Executive Director of the Company with effect from 10 October 2026, pursuant to his resignation letter dated 10 October 2026.
• Appointed Mr. Jitendra Ramdas Bhosale (DIN: 09689357) as an Additional Non-Executive Director with effect from 10 October 2026, subject to approval of shareholders in the ensuing general meeting.
• Approved an increase in the remuneration of Mr. Kishor Dhondu Makvan, Executive Director, from Rs. 90,00,000 (Ninety Lakhs) per annum to Rs. 1,20,00,000 (One Crore Twenty Lakhs) per annum, with effect from 1st August, 2026, subject to approval of shareholders in the ensuing general meeting.
• Approved the Draft Postal Ballot notice of the Company, appointed Mr. Nikunj Kanabar (Sole Proprietor of M/s Nikunj Kanabar & Associates), Practicing Company Secretaries, as Scrutinizer for conducting the E-voting process, and fixed the Cut-off/Record date for submission of the Postal Ballot notice and entitlement of shareholders for E-voting.

The director who resigned

Mr. Lalit Varshney tendered his resignation from the post of Non-Executive Director due to pre-occupation and other personal reasons, with effect from 10 October 2026, and requested to be relieved with immediate effect. He has confirmed that there are no material reasons for his resignation other than those mentioned in his resignation letter.

The director who joined

Mr. Jitendra Ramdas Bhosale is described as a global oil and gas, valves, quality and supply-chain professional with 21+ years of experience across valve manufacturing, wellheads, X-trees, drilling and completion equipment, product validation, quality assurance, auditing, supply-chain management and business development.

His expertise is stated to cover high-pressure valves, wellheads, Christmas trees, BOPs and choke manifolds, with exposure to API 6A, 6D, 16C, 17D, 20E and other international standards, as well as manufacturing governance, product validation, pressure testing, QMS implementation, supplier qualification and 150+ supplier evaluations and audits.

His international exposure is described across India, Southeast Asia, the Middle East, China, Italy and USA-linked operations, with experience with global customers including Shell, ExxonMobil, Saudi Aramco and ADNOC. The update states his appointment strengthens the Company's capabilities in technical governance, manufacturing excellence, quality and compliance, supply-chain risk management, operational excellence and strategic business development. It also states that he is not debarred from holding the office of director by virtue of any SEBI order or any other such authority.

How a shareholder may read this

Director changes and remuneration revisions approved at board level are routine disclosures. Two of the items here are placed before shareholders: the appointment of the new Additional Non-Executive Director and the increase in the Executive Director's remuneration.

The remuneration moves from Rs. 90,00,000 per annum to Rs. 1,20,00,000 per annum with effect from 1 August 2026. The appointment and the remuneration increase are both subject to approval of shareholders in the ensuing general meeting, and a Postal Ballot notice has been approved for the shareholder vote.

For the resignation, the outgoing director has confirmed that there are no material reasons other than those stated in his letter.

Other figures in the enclosed company profile

• Manufacturing and integration facility in Chakan (Pune) of 35,000 sq. ft
• Order book stated to now exceed ₹100 Crore
• 50+ SKUs available in both ferrous and non-ferrous materials
• Valves manufactured following ASME standards in pressure ratings ranging from Class 150 to 1500

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