Kshitij Polyline Limited — Board/Management Information 2023

Jun 2, 2023

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The General Manager Capital Market (Listing) National Stock Exchange of India Ltd Exchange Plaza, Bandra-Kurla Complex, Bandra (East), Mumbai-400051 Symbol: KSHITIJPOL

Subject: Outcome of Board Meeting held today i.e., June 01, 2023:

Reference: Disclosure pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations, 2015.

Dear Sir/Madam,

Pursuant to Regulation 30 of the Securities Exchange and Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015; it is hereby informed that the Board of Directors at its meeting held today i.e., June 01, 2023, at the Registered Office of the Company situated at 8, Sona Udyog, Parsi Panchayat Road, Andheri East Mumbai, Maharashtra-400069, considered and approved the following matter:

1. Appointment of Mr. Ruhini Kumar Chakraborty (DIN: 08124270) as Additional Independent Director w.e.f. June 01, 2023. (Annexure A)

2. Appointment of Mr. Mayur Jitendra Thakar (DIN: 08156395) as Additional Independent Director w.e.f. June 01, 2023. (Annexure B)

3. Acquisition of Sparion Infrastructure Private Limited. (Annexure C)

The meeting commenced at 5:30 P.M. and concluded at 6:45P.M.

Request you to kindly take the aforementioned information on your records.

For Kshitij Polyline Limited

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______ Bharat Hemraj Gala Managing Director DIN: 01994342 Address: Flat No. 802, 8th Floor, Minal Tower, Old Nagardas Road, Andheri East, Mumbai, Maharashtra-400069

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(Annexure A)
Sr. No. Particulars Details
1 Name of the Director Mr. Ruhini Kumar Chakraborty
(DIN: 08124270)
2 Reason of change viz. Appointment
Appointment, resignation,
removal, death or otherwise;
3 Date of Appointment June 01, 2023
4 Terms of Appointment Appointed as an Additional Non-Executive
Independent Director for a period of 5 years
sub ect to the a roval of Shareholders.
j pp
5 Qualification B.COM
6 Brief Profile JOB
1978 to 1982: Daulal & Co. Cd. stock Exch. As
Broker
1982 to 1986: Damani & Sons - As Broker
1986 to 1990: Bimalkar Ghosh As Broker
2007 to 2009: Globe Capital market NSE, BSE
Broker
2011 to 2017: Systematix Shares & Stock India
Ltd. as Broker
SUB BROKER
1990 to 1996: PRB Securities Pvt. Ltd.
NSE/BSE Broker
1996 to 2003: MG BANGUR & CO Cal/NSE
Broker
2003 to 2007: Apollo Sindoori NSE Broker
Since 2007: Whole Time Director in EJECTA
MARKETING LTD.
7 Disclosure of Relationship No relation
between Directors
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(Annexure B)

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Sr. No. Particulars Details
1 Name of the Director Mr. Mayur Jitendra Thakar
(DIN: 08156395)
2 Reason of change viz. Appointment
Appointment, resignation,
removal, death or otherwise;
3 Date of Appointment June 01, 2023
4 Terms of Appointment Appointed as an Additional Non-Executive
Independent Director for a period of 5 years
sub ect to the a roval of Shareholders.
j pp
5 Qualification MBA-Finance
6 Brief Profile JOB
1991 to 1995 - K. A. Pandya & Co., CA Firm as
Accounts Assistant
1995 to 1997 Hari Diamonds As Chief
Accountants
1997 to 2009 Rose Gems as Accounts Head
2009 to 2013 Netwing Technologies Pvt. Ltd.
VP Finance
2014 to 2017 Gundecha Builders as Accounts
Manager
2017 to 2019 Kamala Mills Limited
Accounts & Admin Head (Director in 13
Companies since 2018 to 2019)
Since 2019 Freelancing
Since 2022, Appointed as Director & CFO in
Elegant Floriculture & Agrotech (India) Ltd.
7 Disclosure of Relationship between No relation
Directors
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(Annexure C)

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Sr. Particulars Details
No.
1 Name of the target entity Sparion Infrastructure Private Limited
2 Date of incorporation 24/01/2015
3 Details in brief such as Size, Turnover 22.01 Cr.
4 Brief background about the entity acquired in Target entity is into the business of
terms of products/line of business acquired. marketing of tableware ceramic over the
years, the Company has acquired
sufficient experience in the marketing of
tableware ceramic.
5 History of last 3 years turnover F.Y. 2020-21 Rs. NIL,
F.Y. 2021-22 Rs.7.43 Cr. & F.Y. 2021-22
Rs.22.01 Cr.
6 Country in which the acquired entity has
presence and any other significant INDIA
information (in brief)
7 Whether the acquisition would fall within
related party transaction(s)and whether the
promoter/ promoter group/ group NO
companies have any interest in the entity
being acquired? If yes, nature of interest and
details thereof and whether the same is done
-
8 Industry to which the entity being acquired Ceramic Business
belongs
9 Objects and effects of acquisition (including The target entity is into consumer
but not limited to, disclosure of reasons for product and having Industrial Land &
acquisition of target entity, if its business is shed both companies are planning for
outside the main line of business of the listed retailing and cross selling.
entity) Target Company is into Consumer
Product Business
Both Company are Planning to target
Retail Customer with Cross Selling
Target Company is having Appx.
6.15-acre Industrial Land which will
be used for future expansion for KPL
& Target Company
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10	Brief details of any government or regulatory approvals required for the acquisition	NIL
11	Indicative period for completion of the acquisition	30 Days
12	Nature of consideration - whether cash consideration or share swap and details of the same;	Cash Consideration as per Valuation Derive by Reg. Valuer
13	Cost of acquisition or the price at which the shares are acquired	Rs.2120.28 per share
14	Percentage of shareholding / control acquired and / or number of shares acquired	Kunjan Dagli 25%- 2500 shares Hardik Shah -26% 2600- shares