BF Utilities Limited has informed the Exchange regarding Notice of Postal Ballot
BFUTILITIE · price
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BF Utilities has issued a postal ballot notice to seek shareholder approval for the re-appointment of Mr. B.S. Mitkari (DIN: 03632549) as Whole-Time Director and CEO for a period of 23 months, from April 1, 2025 to February 28, 2027. His proposed monthly salary is Rs. 8.32 lakh (within a grade of Rs. 7 lakh to Rs. 18 lakh), with a performance incentive of up to Rs. 75 lakh per annum. Mr. Mitkari, aged 58, is a qualified Company Secretary and Cost Accountant with 35 years of experience and has been with the company for over 24 years. E-voting begins on May 7, 2025 and ends on June 5, 2025, with results to be announced by June 9, 2025. The company operates in wind power generation and infrastructure, reporting FY24 revenue of Rs. 193.97 million and profit after tax of Rs. 100.87 million, up from Rs. 57.72 million in FY23.
This is a routine governance matter seeking shareholder approval for leadership continuity. The re-appointment is unlikely to materially affect the stock price, but shareholders should review the disclosed remuneration terms, which include a performance-linked component tied to profitability targets of 20-30% growth.