Greenply Industries Limited has informed the Exchange regarding Proceedings of Postal Ballot
GREENPLY · price
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Greenply Industries Limited has announced the results of a postal ballot conducted through remote e-voting from November 30 to December 29, 2025, with results declared on December 30, 2025. Shareholders approved a special resolution to re-appoint Mr. Rajesh Mittal (DIN: 00240900), a promoter of the company, as Executive Director in the capacity of Chairman cum Managing Director for a 5-year term effective January 1, 2026 to December 31, 2030. The resolution was passed with 97.81% votes in favour (10,37,36,850 shares) against just 2.19% votes against (23,18,790 shares) out of 1,06,05,640 total votes polled. His approved remuneration includes a basic salary of Rs. 23 lakh per month, HRA of Rs. 7.3 lakh per month, other allowances of Rs. 7.7 lakh per month, plus commission of up to 1.5% of net profits, along with other standard perquisites.
The re-appointment of the promoter as CMD with overwhelming shareholder support (97.81%) signals leadership continuity through December 2030, which is generally positive for stock price stability. The fixed monthly pay works out to roughly Rs. 38 lakh, with additional variable commission, so investors may want to monitor the remuneration payout relative to company profits.