The Postal Ballot Notice is enclosed.
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Magna Electro Castings Limited has issued a Postal Ballot notice seeking shareholder approval via remote e-voting for one resolution. The resolution proposes appointing Smt. Nivedita Lakshmi Narayanaswamy as Vice President - Finance effective January 1, 2026, on a remuneration not exceeding Rs. 75 lakh per annum. She is the daughter of Managing Director Sri N. Krishnasamaraj and sister of Executive Director Sri Ajeya Vel Narayanaswamy, making her a related party under the Companies Act, 2013, which is why shareholder approval is required. Her proposed pay represents only about 0.43% of the company's FY25 consolidated turnover. She is a CGMA with an Executive MBA from Columbia Business School and has 13+ years of global finance experience at companies including Abbvie, Walgreens Boots Alliance, and Mammoth Brands. E-voting runs from November 22, 2025 to December 21, 2025, and related parties are barred from voting on this Ordinary Resolution.
This is a related-party appointment placing a promoter family member in a senior finance leadership role, so minority shareholders should evaluate governance implications alongside the candidate's qualifications. The financial impact on the company is small (0.43% of turnover), and approval only needs a simple majority from non-related shareholders.