Electrosteel Castings Limited has informed the Exchange regarding Notice of Postal Ballot
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Electrosteel Castings has sent a postal ballot notice to shareholders seeking approval for the re-appointment of Mr. Sunil Katial (DIN: 07180348) as Whole-time Director and CEO for a 5-year term starting 1 April 2026. The proposed remuneration includes a monthly salary starting at Rs. 13.97 lakh in FY27 and rising to Rs. 16 lakh by FY29, along with a special allowance, leased housing, and other perquisites. Mr. Katial, aged 69, has over 48 years of experience in the steel and power industry and was last paid Rs. 3.09 crore in FY26. The resolution is proposed as a special resolution. E-voting is open from 14 March 2026 (9:00 AM) to 12 April 2026 (5:00 PM), with the cut-off date for eligibility set as 6 March 2026, and results to be announced by 14 April 2026.
This is a routine corporate governance item with no material impact expected on the stock price. Shareholders should note the e-voting window and cast their vote. Approval is needed as a special resolution since the company is taking shareholder consent as a precaution under Schedule V, even though it has been profitable in recent years.