Outcome of board meeting of Apar Industries

Held on 05 February 2015

Apar Industries announced that the Board of Directors of the Company at its meeting held on 05 February 2015, inter alia, have approved the:-

(A) 1. Change in designation of Chaitanya N. Desai as "Managing Director" from "Joint Managing Director" with effect from 01 February 2015, as recommended by the Nomination and Compensation-cum-Remuneration Committee of Directors at its meeting held on 05 February 2015, prior to Board Meeting, keeping all other terms and conditions of his earlier appointment unchanged.

2. The Board of Directors of the Company and Apar Lubricants have at their respective meetings held on 05 February 2015 approved amalgamation of Apar Lubricants, Wholly-owned Subsidiary (WOS) with the Company with effect from 01 January 2015 (Appointed Date). This is subject to and conditional upon requisite approvals and sanctions, including approvals and orders under Sections 391 to 394 of the Companies Act, 1956 (as amended to date), as may be required.

(B). Further, the Nomination and Compensation-cum-Remuneration Committee of the Board of Directors of the Company has allotted 1,147 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 1,147 nos. of Equity Shares, the Issued, Subscribed and Paid-up Equity Share Capital of the Company has increased -

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

To : Rs. 384,965,030/- divided into 38,496,503 Equity Shares of Rs. 10/- each.

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