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Awaiting price reaction for this filing.
Modulex Construction Technologies has issued a Postal Ballot Notice seeking shareholder approval (via Special Resolution) to change the designation of Mr. Jayesh Sheth (DIN: 03506031) from Executive Director-Finance to Joint Managing Director for a 3-year term (11 Feb 2026 to 10 Feb 2029). The proposed annual remuneration is Rs. 72,00,000, up from Rs. 47,66,667 paid to him in FY25-26 (15 Apr 2025 to 31 Jan 2026). E-voting runs from 14 Feb 2026 (9:00 AM) to 15 Mar 2026 (5:00 PM), with results to be declared on or before 17 Mar 2026. The company is loss-making with FY25 loss after tax of Rs. 177.25 lakhs on total income of just Rs. 18.87 lakhs, and operates its modular construction business through subsidiaries, with a new manufacturing facility under construction at Indapur, Pune.
Minor governance change — a senior director is being elevated to Joint MD with a meaningful pay hike, requiring shareholder sign-off. The remuneration hike to Rs. 72 lakh is notable given the company's persistent losses, so shareholders may scrutinize this approval. For retail investors, watch the voting outcome on 17 Mar 2026 and subsequent operational updates from the subsidiary factory commissioning at Indapur.