Chemplast Sanmar Limited has informed the Exchange regarding Notice of Postal Ballot
CHEMPLASTS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Chemplast Sanmar has issued a postal ballot notice to shareholders seeking e-voting approval on seven resolutions. Current Managing Director Mr Ramkumar Shankar (58, Chartered Accountant with 37 years of experience) is being reappointed only for a short 2-month period from February 1 to March 31, 2026, after which he steps down. Mr S Ganeshkumar will be appointed as the new Managing Director for a 3-year term starting April 1, 2026, with a basic salary of Rs 7.5 lakh per month (revisitable up to Rs 11.5 lakh). Four Independent Directors — Aditya Jain, Sanjay Bhandarkar, Lakshmi Vijayakumar, and Prasad Menon — are being reappointed for their second 5-year terms from April 26, 2026 to April 25, 2031. The e-voting window runs from February 21 to March 22, 2026, with the record date set as February 13, 2026.
This is a planned leadership transition — Mr Shankar is voluntarily stepping down after a 5-year stint, with a successor already lined up, providing continuity. The simultaneous reappointment of all four independent directors points to board stability. Investors should note the company has reported two consecutive years of losses (Rs 103.87 cr in FY24 and Rs 65.57 cr in FY25), making the new MD's performance worth tracking closely.