Notice of Postal Ballot sent today to the Members of the Company is attached.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Cravatex Limited has sent a postal ballot notice to members seeking approval for the re-appointment of Mr. Divakar G. Kamath (DIN: 08730430) as Executive Director and CFO for a further 3-year term from 1st April 2026 to 31st March 2029. The proposed remuneration is up to Rs. 42.70 lakhs per annum, up from Rs. 39.53 lakhs drawn in FY26. A Special Resolution is required as Mr. Kamath will attain the age of 70 years on 8th June 2026. The e-voting window runs from 29th April 2026 (9:00 a.m.) to 28th May 2026 (5:00 p.m.), with results to be announced on 29th May 2026; NSDL has been engaged as the e-voting platform. For context, the company reported FY25 turnover of Rs. 479.59 lakhs and profit before tax of Rs. 539.05 lakhs (vs. Rs. 335.40 lakhs in FY24), with reserves and surplus at Rs. 1,891.90 lakhs.
Shareholders must cast their votes electronically by 28th May 2026 to approve the re-appointment and remuneration. This is largely a routine governance matter ensuring leadership continuity, with a modest ~8% rise in CFO remuneration; unlikely to cause any meaningful stock price reaction on its own.