Postal Ballot Notice along with explanatory statement for seeking members approval by way of remote e-voting process
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Awaiting price reaction for this filing.
Forbes Precision Tools and Machine Parts Ltd has issued a Postal Ballot notice seeking shareholder approval to pay commission to its Non-Executive Directors (NEDs) of up to 1% of net profits per annum for FY 2024-25, with a floor cap of ₹1.25 crore under Schedule V if profits are inadequate. The proposal specifically mentions paying ₹25 lakhs each to the five NEDs – Marzin R. Shroff, D. Sivanandhan, Jai L Mavani, Rani A. Jadhav, and Nikhil Bhatia. E-voting runs from May 15, 2025 to June 13, 2025, with the cut-off date set as May 9, 2025. The company reported FY24-25 revenue of ₹23,703.51 lakhs (up from ₹22,955.60 lakhs) and profit after tax of ₹2,874.57 lakhs (slightly down from ₹2,971.11 lakhs). Mr. Mehul Raval, Practicing Company Secretary, has been appointed as scrutinizer.
This is a routine governance-related expense proposal with no direct material impact on shareholders or the stock price. The proposed commission is well within the SEBI/Companies Act ceilings and represents a minor outflow from profits, but the amounts are modest in relation to the company's earnings base.