Outcome of Board Meeting

July 03, 2026 Ref. No. 30/2026-27 BSE Limited National Stock Exchange of India Limited P.J. Towers, Dalal Street. Exchange Plaza, C-1, Block G, Mumbai-400 001. Bandra Kurla Complex, Bandra (East), Mumbai – 400051 Scrip Code – 500279 Symbol – ONIDA Through: BSE Listing Centre Through: NEAPS Dear Sir/Madam, Sub: Outcome of the Meeting of Board of Directors held on July 03, 2026 Ref: Regulation 30 and other applicable regulations of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI LODR’ / 'Listing Regulations'). Pursuant to Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), we hereby inform you that the Board of Directors of the Company at its Meeting held today i.e. Friday, July 03, 2026 through Video Conferencing, inter alia, considered and approved the following matters: 1. Based on the recommendation of the Nomination and Remuneration Committee, the Board approved the appointment of Mr. Jayesh Gandhi (DIN: 00221855) as an Additional Director (Independent Director) of the Company for a consecutive term of five (5) years with effect from July 04, 2026, subject to the approval of the Members of the Company. Details required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Master Circular No. HO/49/14/14(7)2025-CFD- POD2/I/3762/2026 dated January 30, 2026 is enclosed as Annexure A. 2. Based on the recommendation of the Nomination and Remuneration Committee, the Board approved the change in designation of Mr. Kaval Mirchandani (DIN: 01179978) from Managing Director to Whole-time Director of the Company with effect from July 04, 2026, subject to the approval of the Members of the Company. Details required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Master Circular No. HO/49/14/14(7)2025-CFD- POD2/I/3762/2026 dated January 30, 2026 is enclosed as Annexure B. 3. Based on the recommendation of the Nomination and Remuneration Committee, the Board approved the appointment of Mr. Gunjan Srivastava (DIN: 06396248) as the Chief Executive Officer and Additional & Managing Director of the Company with effect from July 04, 2026, subject to the approval of the Members of the Company. Mr. Gunjan ONIDA ELECTRONICS LIMITED (Formerly known as MIRC ELECTRONICS LIMITED) Regd Office: Onida House, G-1, M.I.D.C, Mahakali Caves Road, Andheri (East), Mumbai-400 093. Tel.: +91-22-6697 5777, 28200435 Fax: +91-22-2820 2002 CIN No.: L32300MH1981PLC023637. Website: www.onida.com Srivastava has been serving as the Chief Executive Officer of the Company since February 01, 2026, and upon the above appointment becoming effective, he shall hold the office of the Chief Executive Officer and Additional & Managing Director with effect from 04th July, 2026 Details required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Master Circular No. HO/49/14/14(7)2025-CFD- POD2/I/3762/2026 dated January 30, 2026 is enclosed as Annexure C. 4. The Board took note of the resignation of Mr. Shirish Suvagia (DIN: 10095690) from the office of Whole Time Director and Chief Financial Officer of the Company with effect from the closure of business hours on July 03, 2026. The Board of Directors of the Company placed on record their appreciation for the valuable contribution made by Mr. Shirish Suvagia to the Company, during his term as the Whole Time Director and Chief Financial Officer of the Company. Further, Mr. Shirish Suvagia has confirmed that there are no material reasons for his resignation other than those mentioned in his Letter of Resignation letter dated July 3, 2026. Details required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Master Circular No. HO/49/14/14(7)2025-CFD- POD2/I/3762/2026 dated January 30, 2026 and his Letter of resignation is enclosed as Annexure D. 5. Based on the recommendation of the Audit Committee and the Nomination and Remuneration Committee, the Board approved the appointment of Mr. Manish Desai as the Chief Financial Officer and Key Managerial Personnel of the Company with effect from July 04, 2026. 6. Based on the recommendation of the Nomination and Remuneration Committee, the Board approved the appointment of Mr. Manish Desai (DIN: 09740266) as an Additional Director of the Company with effect from July 04, 2026, and as the Whole-time Director and Key Managerial Personnel of the Company for a period of three (3) years with effect from July 04, 2026, subject to the approval of the Members of the Company. Details required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Master Circular No. HO/49/14/14(7)2025-CFD- POD2/I/3762/2026 dated January 30, 2026 is enclosed as Annexure E. 7. Approved the grant of 12,50,000 Employee Stock Options to the eligible employees of the Company under the MIRC Electronics Employee Stock Option Plan, 2023, in accordance with the terms of the said Plan and applicable laws. Details required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Master Circular No. HO/49/14/14(7)2025-CFD- POD2/I/3762/2026 dated January 30, 2026 is enclosed as Annexure F. ONIDA ELECTRONICS LIMITED (Formerly known as MIRC ELECTRONICS LIMITED) Regd Office: Onida House, G-1, M.I.D.C, Mahakali Caves Road, Andheri (East), Mumbai-400 093. Tel.: +91-22-6697 5777, 28200435 Fax: +91-22-2820 2002 CIN No.: L32300MH1981PLC023637. Website: www.onida.com The meeting of the Board of Directors commenced at 3:47 p.m. and concluded at 6:45 p.m. You are requested to kindly take the same on record. Thanking you. For Onida Electronics Limited (Formerly known as MIRC Electronics Limited) Kaval Mirchandani Managing Director DIN: 01179978 Encl: - As above ONIDA ELECTRONICS LIMITED (Formerly known as MIRC ELECTRONICS LIMITED) Regd Office: Onida House, G-1, M.I.D.C, Mahakali Caves Road, Andheri (East), Mumbai-400 093. Tel.: +91-22-6697 5777, 28200435 Fax: +91-22-2820 2002 CIN No.: L32300MH1981PLC023637. Website: www.onida.com Annexure A Disclosures pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular No. HO/49/14/14(7)2025- CFD-POD2/I/3762/2026 dated January 30, 2026. Particulars Details Name of the Director/Key Mr. Jayesh Gandhi Managerial Person DIN 00221855 Reason for change viz. Appointment as an Additional Director (Independent appointment, re-appointment, Director) resignation, removal, death or otherwise Date of appointment/re- Effective from July 04, 2026, for a consecutive term of appointment/cessation (as five (5) years, subject to the approval of the Members applicable) & term of appointment/re-appointment Brief profile (in case of Mr. Jayesh M. Gandhi is a Fellow Chartered appointment) Accountant (FCA) with over four decades of extensive experience in audit, assurance, financial advisory, corporate governance and consultancy. He was engagement partner for many large sized listed companies which includes ICICI Group including ICICI Bank Ltd., Wipro Group, Tata group, RPG group and Raheja group. He was also in charge of statutory audits of ARCIL (first Asset Reconstruction Company in India), Non-banking Finance Companies of different size, Financial Institution such as ICICI Ltd., IFCI Ltd. public sector undertaking Mahanagar Telephone Nigam Ltd. and large sizes Mutual Funds. Mr. Jayesh Gandhi possesses significant expertise in mergers and acquisitions, financial valuations, due diligence, family settlements and owner-managed businesses. He has also undergone specialised training in the Netherlands in Family and Owner Managed Business. During his distinguished career, he has served as a Director [Showing first 8,000 characters — download PDF for full document]