SKF India (Industrial) Ltd

Director appointment and MD cessation

• Ceased as Managing Director, effective 31 August 2026.
• Mukund Vasudevan appointed as Non-Executive, Non-Independent Director, effective 1 September 2026.
• Term: As per Agreement/Company Policy.
• Reason: NRC recommendation; Board approved appointment; postal ballot results declared 15 Oct 2026.
• Profile: IIT Mumbai BTech; MBA in Finance & Strategy, University of Chicago; 25+ years in strategy, sales, M&A.
• Relationship disclosure: Not related to other Directors or KMP.
• Impact on board/committee: No other changes disclosed.

Designation change

• Change in designation of Mr. Sujeeth Pai from Whole-Time Director to Managing Director.
• Effective from 1 September 2026 for a five-year term.
• Remuneration approved; decision via Postal Ballot declared 15 October 2026.
• Reason: change in designation per AGM and Nomination & Remuneration Committee approval.
• Profile: Mechanical Engineering degree (P.E.S.I.T., Bangalore); MBA (ISB Hyderabad); 20 years' leadership experience.
• Relationship disclosure: not related to other directors, KMPs, or promoters.
• Board/committee impact: not specified.

Purpose

• Purpose: Approve leadership designation changes and related governance actions through postal ballot.

Resolutions and outcomes

• Resolution 1 (Ordinary) approved; Sujeeth Pai becomes MD for 5 years from 1 Sep 2026; remuneration.
• Resolution 2 approved; Mukund Vasudevan appointed Non-Executive Director; 14,975,831 for, 102,397 against.
• Impact: governance changes; no share capital changes.

SKF India (Industrial) Limited – Trading Window closed from 01 October 2026 till 48 hours after declaration of Financial Results for the second quarter and half year ending 30 September 2026

Resolutions

• Resolution 1 (Ordinary): Sujeeth Pai to be MD for 5 years from 1 Sept 2026 with remuneration.
• Resolution 2 (Ordinary): Mukund Vasudevan appointed Non-Executive Non-Independent Director from 1 Sept 2026, liable to retire by rotation.
• Outcome not disclosed in the notice; voting window from 16 Sep to 15 Oct 2026.
• Material impact: governance changes; no share capital changes.
• Eligibility cut-off: 4 September 2026.
• E-voting window: 16 September 2026 to 15 October 2026.
• Sujeeth Pai background: Mechanical Engineering (PESIT), MBA (ISB).
• Mukund Vasudevan background: B.Tech (IIT Mumbai); age 56; 25+ years P&L/strategy.
• Remuneration terms for Sujeeth Pai to be within Schedule V limits.

Management changes

• Change in designation: Sujeeth Pai from Whole-Time Director to Managing Director; effective 1 September 2026.
• Cessation as Whole-Time Director on 31 August 2026.
• Appointment as MD for five-year term, subject to shareholders' approval.
• Reason: replacement for Mukund Vasudevan who resigned due to internal SKF Group role change.
• Profile: Mechanical Engineering degree (PESIT), MBA (ISB); ~20 years' experience.
• Relationship: Not related to other directors or KMPs.
• Shareholder approval: required; Members to approve within 3 months from appointment.
• Term: five years from 1 September 2026.
• Not debarred from holding the office.

Directorate change: appointment and cessation

• Appointment: Mukund Vasudevan appointed Non-Executive, Non-Independent Director, effective 1 September 2026, subject to shareholders' approval.
• Cessation: Resigned as Managing Director effective 31 August 2026.
• Term: Appointment subject to approval of shareholders within 3 months from date of appointment.
• Profile: IIT Bombay BTech, MBA Chicago; 25+ years in P&L, strategy, sales, M&A.
• Relationship: Not related to other directors or KMP.
• Regulatory: Not debarred from holding office of director by SEBI or other authorities.

Resignation of Managing Director

• Mukund Vasudevan, MD, resigned 31 Aug 2026; SKF Group role change; no other material reasons; MD/board committees vacated.