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Electrosteel Castings Limited's Board of Directors, at its meeting held on 28 May 2025, approved several key decisions:

• The Board approved the acquisition of 30,00,000 shares, representing 100% shareholding, of T.I.S Services S.p.A., an Italy-based company, from T.I.S Group S.p.A. The aggregate purchase consideration will not exceed Euro 15 million.
• T.I.S Services S.p.A., along with its subsidiaries, is a leading international designer, manufacturer, and marketer of Valve and Equipment for water mains services, sewage treatment plants, and hydroelectric power stations. Its operating turnover for FY 2023-2024 was Euro 35.71 million, FY 2022-2023 was Euro 29.77 million, and FY 2021-2022 was Euro 30.82 million.
• This acquisition is expected to enhance strategic and operational efficiency for Electrosteel Castings' DI Pipes & fittings business in both domestic and export markets. The transaction is anticipated to close within 6 to 9 months.
• The Board noted the resignation of Dr. Ajay Kumar (DIN: 01975789), Chairman and Independent Director, effective from 15 May 2025. His resignation is due to his appointment as Chairman of the Union Public Service Commission by the Hon’ble President of India. Consequently, he will also cease to be a member of the Nomination and Remuneration Committee.
• The Board also noted the receipt of a Provisional Compensation Order dated 15 May 2025, from the Ministry of Coal, Government of India. As per this order, the Ministry of Coal has estimated an amount of ₹ 498.72 Crore as compensation payable to the Company. This compensation pertains to the Cost of Geological Report, Cost of Consent, Land, and Mine Infrastructure for prior allottees of the Parbatpur Central Coal Mine, in accordance with the Coal Mines (Special Provisions) Act, 2015.

• Electrosteel Castings Limited has received a Provisional Compensation Order dated 15 May, 2025 from the Ministry of Coal, Government of India.
• The order pertains to compensation for the Cost of Geological Report, Cost of Consent, Land, and Mine Infrastructure related to prior allottees of the Parbatpur Central Coal Mine, as per the Coal Mines (Special Provisions) Act, 2015.
• The Ministry of Coal has estimated the compensation amount to be ₹498.72 Crore.
• The provisional compensation of ₹498.72 Crore is expected to have a material impact on the company's financials.
• The final determination of the total compensation amount is still pending.
• The company will intimate the exchange upon receiving the final order.

• Dr. Ajay Kumar (DIN: 01975789) has resigned from the position of Chairman and Independent Director of Electrosteel Castings Limited, effective 15 May, 2025.
• The resignation is due to Dr. Kumar taking charge of the constitutional responsibility as the Chairman of the Union Public Service Commission, following an order from the President of India.
• Consequently, he will also cease to be a member of the Nomination and Remuneration Committee from the same date.
• Dr. Kumar confirmed that there are no other material reasons for his resignation besides those mentioned.
• He also holds directorships in Dynamatic Technologies Limited and Cyient DLM Limited, serving on various committees within those organizations.