Kirloskar Industries Limited has officially informed the stock exchanges of the resignation of Mr. Mahesh Chhabria from his position as Managing Director, effective from 31 March 2025. This development was first communicated in a letter dated 14 November 2024, where Mr. Chhabria had expressed his intention for early retirement and a shift toward an entrepreneurial journey.

As per the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the resignation was formally acknowledged during a Board meeting held on 5 March 2025, marking the official end of his tenure as a Director of the company as well.

In addition to stepping down as Managing Director, Mr. Chhabria has also resigned from his position as a member of the Risk Management Committee of the Board, with his departure taking effect at the close of business hours on 31 March 2025. His resignation is aimed at pursuing his entrepreneurial endeavors, which he had alluded to earlier.

The company has expressed its sincere appreciation for Mr. Chhabria's guidance, leadership, and valuable contributions over the years. As the Managing Director, he had been instrumental in steering the company through various strategic initiatives, and his legacy will continue to impact the business positively.

Kirloskar Industries has followed the mandated procedure for the disclosure of leadership changes, ensuring compliance with all regulatory requirements. Annexure A, which includes detailed information regarding Mr. Chhabria’s resignation, is also part of the formal communication sent to the stock exchanges.

While the company bids farewell to a key executive, it has made it clear that the decision was mutual and in alignment with Mr. Chhabria’s personal career aspirations. His exit from the Board marks the end of an era, but also presents an opportunity for new leadership and vision at Kirloskar Industries.

As per the disclosure norms outlined under the SEBI Regulations, the company has also provided details of his resignation letter, including the reasons for stepping down, which will be crucial for stakeholders and investors in understanding the transition.

The company's official communication concluded with a note of gratitude toward Mr. Chhabria, underscoring his significant role in the company’s growth and development over the years. The future of Kirloskar Industries seems poised for a strategic transformation, as it embarks on this new chapter under fresh leadership.

Regulatory Compliance: The formal resignation process adheres to all relevant regulations set out by SEBI, including the SEBI Circular CIR/CFD/CMD/4/2015 dated September 9, 2015, and subsequent updates, ensuring that all stakeholders are informed and the transition is handled smoothly and transparently.

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