Please refer letter attached for the Change in Management
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Awaiting price reaction for this filing.
At the 18th Annual General Meeting held on 27th September 2025, shareholders approved three board changes. Dr. Ashish Rawandale, the promoter and founder, was re-appointed as Managing Director (he originally joined the board on 18/02/2008 and holds about 77.5 lakh equity shares). Two new Independent Directors were appointed: Mr. Vijay Bhimsing Pawar, a surgeon and gastroenterologist, and Mrs. Sunita Pawar, who has knowledge of accounts and finance. Both new independent directors take office on 30th September 2025, do not hold any shares in the company, and have no directorships in other listed companies. Neither new appointee is declared as related to any other director on the board.
Leadership continuity is maintained as the promoter-founder continues as MD, which is generally reassuring for shareholders. Adding two independent directors strengthens board composition and is a routine positive for governance, with no material impact expected on the share price.