Please find enclosed Postal Ballot Notice dated 9th February, 2026.
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Nicco Parks & Resorts Limited has issued a Postal Ballot Notice dated February 9, 2026 seeking shareholder approval through remote e-voting for three ordinary resolutions. The first resolution is to appoint Mr. Barun Kumar Ray, IAS (Additional Chief Secretary, Tourism Department, Government of West Bengal) as a Nominee Director and Chairman, replacing outgoing Director Ms. Nandini Chakravorty, IAS. The second and third resolutions relate to the appointment of Mr. Rahul Mitra as Director and as Managing Director & CEO for a 3-year term from January 27, 2026 to January 26, 2029, with a basic salary of Rs. 2,23,350 per month plus perquisites. E-voting will be conducted via NSDL from March 19, 2026 to April 17, 2026, with the cut-off date set as March 13, 2026. The company's financials show a declining profitability trend, with total revenue falling from Rs. 83.48 crore (FY24) to Rs. 79.66 crore (FY25) and net profit after tax declining from Rs. 20.88 crore to Rs. 18.75 crore.
Routine governance action requiring shareholder approval. Appointment of an IAS officer as Chairman strengthens government (West Bengal) oversight, while the elevation of the existing Company Secretary to MD & CEO provides operational continuity. The remuneration is within Schedule V limits and comparable to industry peers. The declining profit trend noted may draw investor attention to long-term growth prospects.