Spice Islands Industries Approves Director Appointment and JV

Spice Islands Industries Limited's Board of Directors met on July 18, 2026, approving key strategic decisions. The board approved the appointment of Prof. (Dr.) Gurudayal Singh Toteja as an Additional Director in the category of Non-Executive Independent Director for a five-year term, subject to shareholder approval. Additionally, the company approved the execution of a Joint Venture and Commercialisation Agreement with Globalone Enterprises Private Limited for the HYMAX Green Energy Project, which includes implementing a Proof of Concept with ten systems and potentially incorporating a subsidiary. The board also approved entering into a Business Operation and Management Agreement with The Cloud Water for operating a packaged drinking water plant, where Spice Islands will manage operations and receive 100% of net profits, while ownership remains with The Cloud Water.