Indef Manufacturing Limited has informed the Exchange regarding Notice of Postal Ballot
BAJAJINDEF · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Indef Manufacturing Limited is seeking shareholder approval via postal ballot for revision in remuneration of its Managing Director, Shri Amit Bhalla. The fixed annual remuneration is proposed to increase from ₹1.33 crore to ₹1.45 crore effective April 1, 2025. Additionally, shareholders are asked to ratify a ₹70 lakh performance-linked incentive already paid for FY 2024-25 and approve up to ₹75 lakh incentive for FY 2025-26. The resolution also seeks approval to pay remuneration up to ₹4 crore annually even in case of inadequate profits. The company, which was formed from the demerger of Hercules Hoists Limited and listed in February 2025, reported net profit of ₹34.24 crore on total income of ₹193.69 crore in FY 2024-25. E-voting runs from April 16 to May 15, 2026.
Moderate positive signal for shareholders as the remuneration revision reflects company growth and leadership continuity. The company is profitable and expanding through acquisitions, justifying the pay revision. Approval is expected given management's role in successful demerger and strategic initiatives.