Scrutinizer''s Report for the Postal Ballot date March 28, 2025
EIDPARRY · price
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E.I.D. Parry (India) Limited announced the results of its Postal Ballot (notice dated March 28, 2025) on May 13, 2025, with all three Special Resolutions approved by shareholders. Out of 1,28,457 shareholders, 642 participated in the remote e-voting, representing 70.78% of total shares (12.58 crore out of 17.78 crore shares). All three resolutions received overwhelming support: (1) Waiver of recovery of excess managerial remuneration paid to Mr. Muthiah Murugappan (Whole Time Director & CEO) for FY2024-25 was approved with 93.34% votes in favour; (2) Approval of remuneration to Mr. Muthiah Murugappan for FY2025-26 and FY2026-27 was approved with 93.21% in favour; (3) Waiver of recovery of excess managerial remuneration paid to Mr. S. Suresh (former Managing Director) for FY2024-25 was approved with 95.59% in favour. Promoters voted 100% in favour across all resolutions, while public non-institutional shareholders also strongly supported the resolutions (~99.95% in favour).
Shareholders have approved director remuneration packages and waivers for excess pay, which was necessary because the Murugappa family promoters are interested parties in these resolutions. The strong voting margins (well over the required 3x majority for special resolutions) suggest minimal shareholder dissent, and the approvals formalize executive compensation for current and upcoming fiscal years without any material corporate governance concerns.