DIC India Ltd

Rating action

• CRISIL reaffirmed DIC India’s long-term rating: A/Stable on INR 100 crore bank facilities.
• CRISIL reaffirmed the short-term rating: A1 on the same INR 100 crore bank facilities.
• Total short-term debt rated: INR 50 crore with CRISIL A1 reaffirmed.
• Bank-wise facilities include Cash Credit and LC/BG with HDFC Bank and Standard Chartered.
• Ratings kept under continuous surveillance; may be revised or withdrawn on new information.
• Action constitutes reaffirmation; no upgrade/downgrade indicated.
• Outlook for long-term rating: Stable.

Appointments

• Appointment of Praveen Kumar Asthana as Whole Time Director (Executive) for 3 years from July 15, 2026.
• Profile: Praveen Kumar Asthana, IIT Kanpur B.Tech Chemical Engineering, 30+ years in manufacturing and quality.
• Appointment of Hayato Kashiwagi as Managing Director for 3 years from September 01, 2026, subject to approvals.
• Profile: Hayato Kashiwagi, Regional Business Product Director, DIC Asia Pacific, 25 years with DIC Corp.
• Not debarred from holding office by SEBI or other authorities.

Resolutions and outcomes

• Resolution 1 (Special): Appoint Hayato Kashiwagi as MD; approved 100% (votes polled 6,586,077); subject to Central Government approval.
• Resolution 2 (Special): Appoint Praveen Asthana as Whole-Time Director; approved 100% (votes polled 6,586,077).
• Material governance impact: leadership appointments approved, subject to Central Government approval.

AGM/Postal Ballot Details

• Remote e-voting concluded Sep 30, 2026 at 5:00 PM IST.
• Notice issued Aug 31, 2026; period Sep 1–Sep 30, 2026.
• Scrutinizer appointed; NSDL provided e-voting facility.

Resolutions Put to Vote

• Appointment of Hayato Kashiwagi as Managing Director (subject to government approval).
• Appointment of Praveen Kumar Asthana as Whole-Time Director.

Voting Status

• Voting results to be disclosed with Scrutinizer report within prescribed timeline.

Governance Details

• Appointments are subject to Central Government approvals.

DIC India Limited: Trading window will remain closed from October 01, 2026 till 48 hours after the Financial Results for quarter ended September 30, 2026 become generally available.

MD appointment and tenure

• Appointment of Hayato Kashiwagi as Managing Director effective September 1, 2026.
• Term of appointment: 3 years.
• Subject to shareholder and Central Government approvals; approvals to be sought.
• He commenced office at 09:00 AM on September 1, 2026.
• Formerly Regional Business Product Director, DIC Asia Pacific, with 25 years in DIC.
• Not debarred from holding director office by SEBI or authorities.
• Also appointed as director of DIC Fine Chemical Private Limited effective Sep 1, 2026.
• There is no inter-se relationship with other directors.

Resolutions overview

• Special resolution to appoint Hayato Kashiwagi as MD for 3 years from 01-Sep-2026; 25-year DIC experience, not related.
• Special resolution to appoint Praveen Asthana as Whole-Time Director for 3 years from 15-Jul-2026; ex-COO; IIT Kanpur.
• Postal ballot purpose: approve two special resolutions for MD and WTD appointments.
• Outcome of resolutions not disclosed in the notice.
• No share capital changes; remuneration terms are governance matters only.