Mangalam Cement Limited has informed the Exchange regarding Notice of Postal Ballot
MANGLMCEM · price
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Mangalam Cement has issued a Postal Ballot Notice seeking shareholder approval for the re-appointment of Shri Anshuman Vikram Jalan (DIN: 01455782), the current Chairman and Promoter, as Whole-time Director for a further 3-year term from April 1, 2026 to March 31, 2029. The Board approved this re-appointment on February 6, 2026, on the recommendation of the Nomination & Remuneration Committee. His proposed remuneration includes a basic salary of Rs. 18.50 lakh per month (grade up to Rs. 28 lakh), a special allowance of Rs. 15.50 lakh per month (grade up to Rs. 20 lakh), and commission not exceeding 1% of net profits. He drew Rs. 4.70 crore in FY25. Voting is open from March 7 to April 5, 2026, with results expected by April 7, 2026. The company's FY25 revenue was Rs. 1,680.99 crore and net profit was Rs. 45.06 crore (down from Rs. 59.72 crore in FY24).
This is a routine re-appointment of the existing Chairman-promoter seeking shareholder continuity, with no change in leadership. Investors should note the sizable remuneration package and should vote on the postal ballot by April 5, 2026; the resolution requires a special majority to pass.