Kiri Industries Limited has informed the Exchange regarding Notice of Postal Ballot
KIRIINDUS · price
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Kiri Industries has sent out a Postal Ballot Notice to shareholders seeking approval via remote e-voting for three items: (1) Re-appointment of Mr. Manish Kiri as Chairman & Managing Director for 3 years from April 1, 2026 with a basic salary of Rs. 3.6 crore per annum plus 1% commission on net profits; (2) Re-appointment of Mr. Girish Tandel as Whole Time Director for 3 years from February 11, 2026 with a Rs. 27 lakh basic salary; (3) Re-appointment of Mr. Yagnesh Mankad as Whole Time Director on similar terms, which needs a special resolution since he is over 70 years old. The e-voting window runs from February 23, 2026 to March 24, 2026, with results to be declared within two working days after that. The company also highlighted a strong FY24-25 turnaround, with revenue up 4% year-on-year, EBITDA swinging to Rs. 6,155.67 lakh profit (from a Rs. 2,673.41 lakh loss), and profit after tax at Rs. 384.37 lakh versus a Rs. 9,343.20 lakh loss the year before.
Shareholders get to vote on continued leadership and a sizable pay package for the promoter-Chairman. The improved FY25 numbers and closure of the long-running DyStar legal matter are supportive signals, though profits remain thin under Schedule V limits, which is why shareholder approval is needed for the proposed remuneration.