1. Mr. Divaker Nandanam appointed as Additional Non-Executive Independent Director, subject to shareholders' approval. 2. Mrs. Padma Priyanka Vangala ceased as Independent Director on ....
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The board announced the appointment of Mr. Divaker Nandanam as an Additional Non-Executive Independent Director and Mr. Mahavir Kumar Jain as the new Company Secretary and Compliance Officer. Mrs. Padma Priyanka Vangala ceased as Independent Director after completing her term, and Mr. Abhishek Reddy Rachur stepped down as Company Secretary effective January 1, 2026. Separately, the board revised the interest rate on proposed privately placed Non-Convertible Debentures from 12% to 18% per annum, citing shareholder approval received in 2022.
The board changes appear routine, but the sharp hike in NCD interest rate from 12% to 18% signals significantly higher borrowing costs, which could raise interest expenses and weigh on profitability if the debentures are issued.