Autoline Industries Limited has informed the Exchange regarding Notice of Postal Ballot.
AUTOIND · price
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Autoline Industries has issued a postal ballot notice to shareholders seeking approval for a special resolution to revise the remuneration of Mr. Sudhir Vithal Mungase, Whole-time Director and Promoter, effective March 1, 2026. The proposed CTC is INR 61,48,488 per annum, more than double his previous remuneration of INR 30,00,000 per annum plus perquisites. E-voting will run from March 25, 2026 (9:00 AM) to April 23, 2026 (5:00 PM) via NSDL, with the cut-off date set as March 20, 2026. The company cited Mr. Mungase's expanded role in the Sierra project and the new Mahindra facility at Pune, along with the firm's accelerating growth, as justification for the hike. The disclosure notes the company had inadequate profits in FY 2024-25, with standalone revenue of INR 65,692.71 lakhs and PAT of INR 1,904.48 lakhs. Mr. Mungase holds a 10.01% stake in the company and is related to the Managing Director and another Whole-time Director.
Shareholders are being asked to approve a more-than-doubled pay package for a Promoter-Director at a company that reported inadequate profits last year. The resolution is a related-party remuneration matter, and its approval or rejection via the postal ballot will determine the director's compensation for his remaining tenure.