Please find enclosed the Postal Ballot Notice dated May 15, 2025 for the approvals of the members of Kennametal India Limited
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Kennametal India has issued a Postal Ballot Notice seeking shareholder approval for four items through e-voting from May 27 to June 25, 2025. The first two resolutions seek approval for material related party transactions with its ultimate holding company Kennametal Inc. (USA) worth INR 3,457 million and with Kennametal Europe GmbH (Switzerland) worth INR 3,555 million for FY 2025-26, aggregating to INR 7,012 million or about 63.75% of the company's annual consolidated turnover. The third resolution is for appointing Mr. Faisal Saad Hamadi as a Non-Executive and Non-Independent Director (representing Kennametal Inc.), effective April 2, 2025. The fourth resolution seeks approval to re-appoint Mr. Vijaykrishnan Venkatesan as Managing Director for another 5-year term from September 17, 2025 to September 16, 2030, with a total annual salary package of about INR 5.20 crore including fixed pay, incentives, and long-term stock units. E-voting results will be declared by June 27, 2025.
These are largely procedural approvals required under SEBI rules for ongoing related-party transactions with the parent group and for leadership continuity. The related-party transactions highlight significant dependence on the parent company for purchases, sales, royalties, and shared services, which retail investors should note. Approval is expected to be smooth as resolutions 1, 2, and 3 are ordinary resolutions and the MD re-appointment is largely a formality given board recommendation.