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Awaiting price reaction for this filing.
Khazanchi Jewellers has issued a Postal Ballot Notice seeking shareholder approval (via Special Resolution and e-voting from Feb 20 to Mar 21, 2026) to revise the remuneration of five key managerial personnel: Mr. Tarachand Mehta (MD), Mr. Rajesh Mehta (Jt. MD), Mr. Goutham (Executive Director), Mr. Vikas Mehta (CFO) and Mr. Aashish Mehta (CEO). The proposed salary slab for each is being raised to a range of Rs. 24 lakh to Rs. 2 crore per annum, effective April 1, 2026, plus commission up to 1% of net profits and performance-linked incentives. The resolution also seeks approval to continue Mr. Tarachand Mehta as MD beyond age 70. The company's revenue more than doubled to Rs. 1,77,253 lakhs in FY25 (from Rs. 82,153 lakhs in FY24), with PAT rising to Rs. 4,492 lakhs (from Rs. 2,732 lakhs).
For shareholders: this is a routine governance action, but it proposes a significant increase in the pay ceiling for the promoter-family-led management team, which may raise questions on pay-for-performance alignment. The outcome of the e-vote will be closely watched, though it is unlikely to materially affect the stock price in the near term.