MRF Limited has informed the Exchange regarding Proceedings of Postal Ballot. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.
MRF · price
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MRF Limited has announced the results of its postal ballot conducted via remote e-voting from 27 February to 28 March 2026. Five resolutions seeking revision in the remuneration of key directors were passed with the required majority. The resolutions covered Chairman & Managing Director Mr. K M Mammen (Special Resolution, 87.45% in favour), Vice Chairman & Managing Director Mr. Arun Mammen (87.87%), Managing Director Mr. Rahul Mammen Mappillai (87.72%), and Whole-time Directors Mr. Samir Thariyan Mappillai and Mr. Varun Mammen (both 87.72% in favour). Promoters voted 100% in favour of all resolutions. While non-institutional shareholders strongly backed the proposals (~99.99% in favour), institutional investors showed meaningful dissent with about 36-37% voting against. Out of 51,710 total shareholders, around 80.95% of outstanding shares were polled.
The revised remuneration packages for the five directors have been formally approved by shareholders, clearing the way for MRF to implement the new pay terms. Institutional investors' notable dissent (~37%) on director pay could be a minor governance flag for some investors, but the strong support from promoters and retail shareholders ensured all resolutions passed comfortably, so there is no immediate negative impact on the stock.