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Asgard Alcobev Ltd has issued a Postal Ballot notice seeking shareholder approval for five director appointments, to be voted on entirely through remote e-voting (no physical ballot). The key items are: (1) appointment of Mr. Ronak Jain as Managing Director for a 5-year term (19 March 2026 to 18 March 2031) with remuneration capped at Rs. 3 lakh per month; (2) appointment of Mr. Binit Singhania as Finance Director and CFO; (3) appointment of Mr. Keshava Lakshminarayana Patkar as Independent Director for 5 years; (4) appointment of Mrs. Priyanka Jain as Non-Executive Non-Independent Director; and (5) appointment of Mr. Swaminathan Muralidharan as Executive Director. E-voting runs from 28 March 2026 (10:00 AM) to 26 April 2026 (5:00 PM), with the cut-off date for eligibility being 20 March 2026. The company, which has shifted from paper to the alcoholic beverages business and operates mainly through a subsidiary, reported FY24-25 total revenue of Rs. 58,096 lakhs and a net profit of Rs. 18.83 lakhs, a sharp jump from near-zero revenue in FY23-24. Mr. Krishna Rathi has been appointed as scrutinizer, and results will be declared within two working days of voting closure.
This is a significant board overhaul tied to the company's pivot from paper to the liquor/beer business under the new Asgard Alcobev identity. Shareholders should review each appointee's background and the proposed MD remuneration before casting their vote, as the outcome will shape the leadership steering the company's new growth direction.