Vadilal Industries Limited — Important, 30-03-2025: Updates

The company has received a memorandum from the Gandhi family regarding a family arrangement to restructure management and settle internal disputes. Within this context, the Board of Directors has approved significant changes, including amendments to the articles of association to ensure clearer governance and management oversight.

The company intends to merge several promoter entities, which will centralize ownership of the “Vadilal” brand, crucial for maintaining market presence and meeting consumer demand. The merger involves Vadilal Finance Company, Vadilal International, and Veronica Constructions, which is projected to simplify the corporate structure and enhance operational efficiency.

The Board has also approved resignations from key executives, including Rajesh and Devanshu Gandhi as Managing Directors and Kalpit Gandhi as Chief Financial Officer, all effective upon the conclusion of specific ongoing legal proceedings. New appointments will follow, including independent directors and additional company management, aiming for professionalization and better governance.

Shareholders will be solicited for approval through a postal ballot on these governance changes, which aims to establish a robust framework while maximizing shareholder value.