Ester Industries Limited has informed the Exchange regarding Notice of Postal Ballot
ESTER · price
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Ester Industries Limited has announced a postal ballot for shareholders to vote on two key proposals. First, Mr. Arvind Singhania (co-founder) is being re-designated from Managing Director and CEO to Non-Executive, Non-Independent Chairman effective March 26, 2026, after nearly 40 years in executive role. He will not receive any remuneration in the new role. Second, Mr. Ayush Vardhan Singhania (his son), currently Whole-Time Director, is getting a remuneration revision from Rs. 1.29 Crores (FY 2024-25) to a range of Rs. 2.70-3.00 Crores per annum effective March 27, 2026, till May 31, 2027. The voting period runs from April 24 to May 23, 2026, with results by May 26, 2026.
The leadership transition represents a generational shift with Mr. Ayush Singhania taking on enhanced responsibilities. The significant remuneration increase for the incoming executive may draw scrutiny given the company's volatile profitability (profit of Rs. 40.5 Cr in FY25 after a loss of Rs. 43.3 Cr in FY24). Shareholders should evaluate the compensation revision carefully.