Maruti Suzuki India Limited has informed the Exchange regarding Notice of Postal Ballot
MARUTI · price
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On the reaction day the stock moved 0.7 pts more than Nifty 100 and 0.5 pts more than its Passenger Cars & Utility Vehicles peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Maruti Suzuki has issued a postal ballot notice seeking shareholder approval for three items. First, the appointment of Mr. Sunil Kumar Kakkar (currently Senior Executive Officer, Corporate Planning, with 35+ years at MSIL) as a Whole-time Director designated as Director (Corporate Planning) for three years from April 1, 2025 to March 31, 2028, with a basic salary of around ₹1.72 crore per annum plus performance-linked bonus and perquisites. Second, the appointment of Mr. Koichi Suzuki (currently Managing Officer at parent Suzuki Motor Corporation) as Non-Executive Director, filling the casual vacancy left by the resignation of Mr. Kinji Saito. Third, the appointment of Price Waterhouse Chartered Accountants LLP as Statutory Auditors with effect from May 12, 2025 until the 44th AGM, to fill the casual vacancy caused by the resignation of Deloitte Haskins & Sells LLP. Remote e-voting runs from May 19, 2025 to June 17, 2025, with results to be announced by June 19, 2025. There is no material change in audit fees, with PW's proposed fee being ₹27 million per annum plus taxes.
These are largely routine governance items requiring shareholder ratification. The auditor switch from Deloitte to Price Waterhouse is being done to align MSIL's auditor with parent Suzuki Motor Corporation's global audit network, which is a common practice in subsidiary-parent structures. Investors should note the internal promotion of a long-serving MSIL executive to the board and the addition of another nominee from the Japanese parent, reinforcing parent company involvement in leadership.