IFGL Refractories Limited has informed the Exchange regarding Notice of Postal Ballot
IFGLEXPOR · price
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Awaiting price reaction for this filing.
IFGL Refractories has issued a postal ballot notice seeking shareholder approval for two special resolutions. The first is the re-appointment of Mr Shishir Kumar Bajoria as Executive Chairman (Whole-time Director) for 3 years from 1st April 2026 to 31st March 2029, with a basic salary of Rs 20 lakh per month plus up to 25% annual increment and 1% commission on net profits; he drew Rs 309.04 lakh in FY25 and holds 4.11% stake. The second is the re-appointment of Mr Rajesh Agarwal as Director-General Counsel for 3 years from 12th November 2025 to 11th November 2028, with an annual basic salary of Rs 2.10 crore and minimum 12.5% yearly increment; he drew Rs 185.49 lakh in FY25. E-voting runs from 7th January to 5th February 2026, with results to be declared by 9th February 2026. The company's standalone FY25 performance showed total income of Rs 1,01,386 lakh and profit after tax of Rs 5,760 lakh.
This is a routine re-appointment of two existing whole-time directors, so it is unlikely to have a material impact on the stock price. Shareholders should review the remuneration terms, particularly the minimum remuneration clause that applies even in years of loss or inadequate profit.