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Awaiting price reaction for this filing.
Ecoplast Limited has issued a Postal Ballot notice for two special resolutions. Resolution 1 seeks approval for the appointment of Mr. Jayesh Jashvantlal Shah (DIN: 00260876), a Chartered Accountant with over 36 years of experience, as an Independent Director for five years from January 1, 2026 to December 31, 2030. Resolution 2 seeks approval for changing the designation of Mr. Jay Ketan Shroff (DIN: 07712312) from Non-Executive Director to Whole-time Director for three years (Jan 1, 2026 to Dec 31, 2028), with a basic salary of Rs. 1,50,000 per month plus allowances (HRA Rs. 25,000, Conveyance Rs. 25,000, LTA Rs. 30,000, Medical Rs. 29,600, Education Rs. 6,000) along with PF and other perquisites. E-voting runs from January 9, 2026 to February 7, 2026, with results to be announced by February 10, 2026. The cut-off date for eligibility is January 2, 2026. For context, the company reported FY25 turnover of Rs. 12,658.88 lacs and net profit of Rs. 806.02 lacs, down from Rs. 946.70 lacs in FY24.
These are routine governance and leadership changes. The appointment of a new Independent Director strengthens board oversight, while the elevation of Mr. Shroff signals continuity in financial management as he is related to the existing Managing Director. The remuneration package is within Schedule V limits and modest for a whole-time director role; nothing materially concerning for shareholders.