Tuticorin Alkali Chemicals and Fertilizers Limited (TACFL), a prominent player in the Indian chemicals and fertilizers sector, has formally announced a change in its Board of Directors, in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This change, executed via a Resolution by Circulation dated 29th July 2025, entails the completion of term for one Independent Director and appointment of a new Independent Director.

Completion of Term: Ms. Rita Chandrasekar

Ms. Rita Chandrasekar (DIN: 03013549), who had been serving as an Independent Director on the Board of TACFL, is set to conclude her second term on 30th July 2025, marking the end of a significant tenure of corporate stewardship and governance. Her continuation on the Board was previously approved by the shareholders as per the SEBI guidelines for a second term.

According to the company's disclosure, Ms. Chandrasekar will cease to hold office from the close of business hours on 30th July 2025. The company has officially acknowledged and expressed appreciation for her valuable service, contribution, and guidance extended to the Board and the management during her tenure. There has been no mention of resignation or other cause of cessation except the natural completion of her five-year term as allowed under the Companies Act and SEBI rules.

Appointment of Ms. Latha Ramanathan as Independent Director

In her place, the Board has appointed Ms. Latha Ramanathan (DIN: 07099052) as an Additional Director in the category of Independent Director (Non-Executive) with effect from 31st July 2025. Her appointment is subject to shareholder approval in the upcoming Annual General Meeting (AGM) of the company and is in line with Regulation 17(1) of SEBI LODR Regulations.

The Nomination and Remuneration Committee of the company had recommended her name, and the Board, through its circular resolution, approved her appointment for a fixed term of five (5) years, ending on 30th July 2030.

Brief Profile of Ms. Latha Ramanathan

Ms. Ramanathan brings a wealth of experience spanning over 34 years in the field of finance, consulting, and public policy, including nearly two decades in Big 4 consulting firms such as KPMG, PwC, and Deloitte, where she served in leadership roles including Executive Partner and Senior Director.

During her professional career, she led operations in Urban Infrastructure and Public Finance and contributed to several internal and global-level committees and initiatives, especially in gender inclusion and women-focused groups. In 2015, she founded Economix Consulting Group (ECG), a niche consulting and analytics firm where she currently serves as the Chief Executive Officer.

She currently also holds Independent Directorships at:

• Southern Petrochemical Industries Corporation Limited (SPIC)

• Manali Petrochemicals Limited

• Tamilnadu Petroproducts Limited

• Dr. Agarwal’s Eye Hospital Limited

It was also clarified that Ms. Ramanathan is not related to any of the existing Directors of the company, as per the provisions of Section 2(77) of the Companies Act, 2013. Further, she has confirmed that she is not debarred from holding office by any regulatory authority, including SEBI.

Regulatory Compliance and Governance Standards

The company has affirmed that the disclosure has been made in compliance with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023, which mandates comprehensive disclosure for appointments, resignations, or removals of Directors and Key Managerial Personnel (KMPs).

By adhering to these guidelines, Tuticorin Alkali Chemicals and Fertilizers Limited continues to demonstrate its commitment to transparency and best governance practices.

Significance of This Change

The change signals a strategic refresh of the company’s board composition, bringing in fresh perspectives through a seasoned finance and public policy expert. With deep consulting and governance experience, Ms. Ramanathan’s entry is expected to strengthen the oversight functions of the Board, especially in matters related to finance, sustainability, and public-private projects, areas critical to a chemicals and fertilizers business operating in a heavily regulated environment.

The departure of Ms. Rita Chandrasekar, while marking the end of an era of consistent directorship, is also symbolic of the evolving governance landscape in Indian listed companies, where term limits and rotational appointments ensure board independence, renewal, and regulatory compliance.

Conclusion

To summarize:

• Ms. Rita Chandrasekar steps down as Independent Director after completing her second term on 30th July 2025.

• Ms. Latha Ramanathan joins as Additional Independent Director, effective 31st July 2025, for a term of five years, subject to shareholder approval.

• The decision was passed by the Board of Directors via resolution by circulation on 29th July 2025, ensuring compliance with Regulation 30 of SEBI LODR and related circulars.

Tuticorin Alkali Chemicals and Fertilizers Limited has thus taken a strategic step in Board restructuring, reflecting its commitment to good governance, expertise-driven leadership, and regulatory integrity. This also sets the tone for the company’s future growth, operational refinement, and alignment with contemporary boardroom practices.

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