Ester Industries Ltd. — Board/Management Information 2023

Mar 28, 2023

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Date: 28[th] March, 2023

BSE Limited (BSE) Department of Corporate services Phirojee Jeejeebhoy Towers Dalal Street, Mumbai – 400023	National Stock Exchange of India Limited (NSE) Exchange Plaza, Plot no. C/1, G Block, Bandra-Kurla Complex, Bandra (E), Mumbai – 400051
Scrip Code: 500136	Symbol: ESTER

Dear Sir/Madam,

Subject: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“ SEBI LODR ”), and based on the recommendations of Nomination and Remuneration Committee, the Board of Directors at their meeting held today, i.e. 28[th] March, 2023, has inter alia considered and approved the following:

• 1) Re-appointment of Mr. Arvind Singhania as the Managing Director designated as "Chairman and CEO" of the Company for the period of 3 years with effect from 1[st] April 2023 subject to the approval of the Members at the ensuing General Meeting of the Company;

• 2) Re-appointment of Mr. Pradeep Kumar Rustagi as Whole Time Director designated as "Executive Director-Corporate Affairs" of the Company for the period of 3 years with effect from 1[st] April 2023 subject to the approval of the Members at the ensuing General Meeting of the Company;

• 3) Appointment of Mr. Sourabh Agarwal as Chief Financial Officer of the Company with effect from 16[th] March, 2023.

The detailed disclosure pursuant to Regulation 30 of the SEBI LODR read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015, is enclosed herewith as Annexure-I .

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Further, in accordance with Circular No. LIST/COMP/14/2018-19 dated 20[th] June, 2018 issued by the Stock Exchanges, we hereby confirm that Mr. Arvind Singhania and Mr. Pradeep Kumar Rustagi are not debarred from holding the office of Director by virtue of any order passed by SEBI or any other such authority.

Please take the above information on your record.

Thanking You

Yours Faithfully,

For Ester Industries Limited

PRADEEP Digitally signed by PRADEEP KUMAR KUMAR RUSTAGI Date: 2023.03.28 RUSTAGI 15:13:05 +05'30' Pradeep Kumar Rustagi

Executive Director-Corporate Affairs

DIN: 00879345

Encl: As above

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Annexure-I

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Disclosure required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/20 15 dated September 9, 2015, is as under:

under:
Sr. No.		Particulars	Details
1		Name of Director	Mr. Arvind Singhania
2		Reason for change viz. appointment, ~~resignation,~~ ~~removal,~~ ~~death~~ ~~or~~ ~~otherwise;~~	Re-appointment as Managing Director designated as "Chairman and CEO" of the Company.
3		Date of Appointment & terms of appointment	Re-appointed with effect from 1stApril 2023 for the period of 3 years, subject to the approval of the Members at the ensuing General Meeting of the Company.
4		Brief profile (in case of appointment)	Mr. Arvind Singhania is a co-founder of Ester, has been actively associated with the company since its inception in the year 1985. Mr. Singhania’s vision and passion have been integral to Ester’s success and he has taken the company from a small start up to a diversified and globally recognized organization. Innovation & development are at the core of his philosophy and this has been the driving force behind Ester’s transformation from commodity to technology play. He has more than 37 years of rich and varied experience including production, supply chain, finance, and business development.
5		Disclosure of Relationship between Directors (in case of appointment of a Director)	Mr. Arvind Singhania is the spouse of Mrs. Archana Singhania, Non-Executive Director and Father of Mr. Ayush Vardhan Singhania, Whole Time Director of the Company. Except this he is not related to any other Director of the Company.
6		Other Directorships/ Memberships in listed entities (only in case of resignation of Independent Directors)	Not Applicable

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Sr. No.		Particulars	Details
1		Name of Director	Mr. Pradeep Kumar Rustagi
2		Reason for change viz. appointment, ~~resignation,~~ ~~removal,~~ ~~death~~ ~~or~~ ~~otherwise;~~	Re-appointment as Whole Time Director designated as "Executive Director-Corporate Affairs" of the Company.
3		Date of Appointment & terms of appointment	Re-appointed with effect from 1stApril 2023 for the period of 3 years, subject to the approval of the Members at the ensuing General Meeting of the Company.
4		Brief profile (in case of appointment)	Mr. Pradeep Kumar Rustagi has more than 35 years of experience with leadership roles in financial planning, accounts, budgeting & MIS, liaison with banks & financial institutions, statutory compliance, indirect taxes, internal financial controls, risk management, insurance and investor relations.
5		Disclosure of Relationship between Directors (in case of appointment of a Director)	Mr. Pradeep Kumar Rustagi is not related to any Director of the Company.
6		Other Directorships/ Memberships in listed entities (only in case of resignation of Independent Directors)	Not Applicable

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Sr. No.		Particulars	Details
1		Name of Key Managerial Personnel	Mr. Sourabh Agarwal
2		Reason for change viz. appointment, ~~resignation,~~ ~~removal,~~ ~~death~~ ~~or~~ ~~otherwise;~~	Appointment as Chief Financial Officer
3		Date of Appointment & terms of appointment	With effect from 16thMarch, 2023
4		Brief profile (in case of appointment)	Mr. Sourabh Agarwal is a qualified Chartered Accountant with over 17 years of experience. Prior to joining Ester, he worked for over a decade with a renowned group named TATA Steel Limited. His expertise includes mergers & acquisitions, working capital management and financing, direct & indirect taxes, capital budgeting and project appraisal and regulatory compliances.
5		Disclosure of Relationship between Directors (in case of appointment of a Director)	Not Applicable
6		Other Directorships/ Memberships in listed entities (only in case of resignation of Independent Directors)	Not Applicable

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