Coromandel International Limited has informed the Exchange regarding Notice of Postal Ballot
COROMANDEL · price
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On the reaction day the stock moved 4.4 pts more than Nifty Midcap 150 and 5.4 pts more than its Fertilizers peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Coromandel International has issued a Postal Ballot Notice seeking shareholder approval for three items. The first two items relate to the appointment of Mr. Natarajan Srinivasan (DIN: 00123338) as a Director and as Whole-time Director designated as Executive Vice Chairman, effective April 30, 2025 to September 30, 2027. Mr. Srinivasan, aged 67, is a Chartered Accountant and Company Secretary with over 35 years of corporate experience, including a 20-year stint with the Murugappa Group, and was formerly MD & CEO of CG Power and Industrial Solutions where he led a successful turnaround. His basic salary is fixed at Rs. 20 lakh per month plus allowances up to 300% of basic and performance-linked incentives. The third item is a Special Resolution to amend the Memorandum of Association to add new business objects including APIs from plant extracts, animal feed, EV battery chemicals, green hydrogen/ammonia, drone operations, mining, e-commerce and farmer advisory services. E-voting runs from May 9, 2025 to June 7, 2025.
Shareholders will vote on a top-level leadership change (new Executive Vice Chairman from within the promoter group) and a significant expansion of the company's permitted business scope into pharma, energy, EV, agri-tech and digital services, which signals a strategic diversification push beyond traditional fertilizers.