Sahyadri Industries Director Steps Down, Vacates Key Committee Roles

Sahyadri Industries Limited announced that Independent Director Shrikant Balkrishna Malegaonkar will resign effective April 6, 2026. Citing personal reasons and health issues, Mr. Malegaonkar will also step down as chairperson of the Nomination and Remuneration Committee and the Stakeholder's Relationship Committee. The company confirmed there are no other material reasons for his departure.

Director's Role and Tenure

Mr. Malegaonkar has served as an Independent Director for Sahyadri Industries since 2017. During his tenure, he held significant responsibilities, chairing key committees including the Nomination and Remuneration Committee and the Stakeholder's Relationship Committee. He was also a member of the Audit Committee and the Corporate Social Responsibility Committee.

Impact on Board Structure

The company will now need to appoint a new Independent Director to fill the vacancy left by Mr. Malegaonkar's resignation. Additionally, new chairpersons will be appointed for the Nomination and Remuneration Committee and the Stakeholder's Relationship Committee. Existing committee memberships will also require reallocation.

Investor Watch

While the company has cited personal and health reasons for the resignation, investors will be monitoring the process of appointing a replacement director and reconstituting the committees.