Kernex Microsystems (India) Limited has informed the Exchange regarding Notice of Postal Ballot
KERNEX · price
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Kernex Microsystems has issued a postal ballot notice to seek shareholder approval for the appointment of Ms. Sreelakshmi Manthena (DIN: 07996443) as Managing Director for a 3-year term effective 23rd May 2025. She is part of the promoter group — daughter of Dr. Anji Raju Manthena and sister of Promoter Director Mr. Sitarama Raju Manthena — and already holds 6,40,398 equity shares (3.82% of paid-up capital). Proposed remuneration is Rs. 8,00,000 per month plus 40% HRA and standard perquisites. She brings 12+ years of experience and has led Kernex's US subsidiary Avant-Garde Infosystems and the South Africa RBCT project. E-voting runs from 11 July 2025 to 9 August 2025, with results expected on or before 12 August 2025.
This is a related-party top management appointment, which shareholders should review carefully for governance reasons, especially since it requires approval under Schedule V of the Companies Act. The company, however, has posted a strong turnaround — FY25 gross revenue rose sharply to ~Rs. 191.83 crore (from Rs. 21.31 crore in FY24) with a net profit of ~Rs. 50.92 crore — so the appointment coincides with a strong operating phase rather than a distress situation.