Outcome of board meeting of Apar Industries

Held on 31 October 2014

Apar Industries announced that the Board of Directors of the Company at its meeting held on 31 October 2014, inter alia, have approved the re-appointment of Kushal N. Desai as Managing Director and Chief Executive Officer (CEO) of the Company and Chaitanya N. Desai as Joint Managing Director of the Company for a further term of three years effective from January 01, 2015 with revision in remuneration, as recommended by the Nomination and Compensation-cum-Remuneration Committee of Directors at its meeting held on October 31, 2014. The said re-appointments are subject to the approval by the Shareholders of the Company at the ensuing General Meeting.

Further, the Nomination and Compensation-cum-Remuneration Committee of the Board of Directors of the Company has allotted 1,196 nos. of Equity Shares of Rs. 10/- each (Rupees Ten only) fully paid up at a Premium of Rs. 197.05 per share i.e. at an Exercise Price of Rs. 207.05 per share to the eligible Employees of the Company upon exercise by them of the options under the 'Apar Industries - Stock Option Plan 2007.'

Consequent upon allotment of the aforesaid 1196 nos. of Equity Shares, the Issued. Subscribed and Paid-up Equity Share Capital of the Company has increased -

- From : Rs. 384,941,600/- divided into 38,494,160 Equity Shares of Rs. 10/- each.

To Rs. 384,953,560/- divided into 38,495,356 Equity Shares of Rs. 10/- each.

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