Centum Electronics Limited has informed the Exchange regarding Notice of Postal Ballot
CENTUM · price
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Awaiting price reaction for this filing.
Centum Electronics has issued a Postal Ballot Notice seeking shareholder approval through remote e-voting on four special resolutions. The first two resolutions relate to re-appointing Mr. Apparao V Mallavarapu as Chairman and Managing Director for a fresh 5-year term (August 1, 2025 to July 31, 2030) and approving his continuation after he turns 70 in October 2026. His proposed monthly remuneration is Rs. 12,54,900 (Basic Rs. 5,00,000 + Allowances Rs. 6,92,700 + Perquisites Rs. 2,200 + PF Rs. 60,000), plus a commission capped at 5% of net profits. The third resolution seeks to appoint Dr. Udayant Malhoutra as an Independent Director for 5 years effective May 22, 2025. The fourth resolution seeks to re-designate Mr. Nikhil Mallavarapu (son of Apparao) as Joint Managing Director. The e-voting window runs from June 3, 2025 to July 2, 2025, with results to be announced on or before July 4, 2025. KFin Technologies is the e-voting agency and Mr. S.P. Nagarajan is the scrutinizer.
These are governance-related resolutions focused on board continuity rather than business operations, so direct impact on stock price is limited. Shareholders may want to note the family-led succession aspect: the founder CMD is being re-appointed, his son is being elevated to Joint MD, and a new independent director is being inducted. Approval outcomes will be announced by July 4, 2025.