Oricon Enterprises Limited has informed the Exchange regarding Notice of Postal Ballot
ORICONENT · price
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Oricon Enterprises Limited has issued a Postal Ballot Notice seeking shareholder approval through remote e-voting for six special business items. The resolutions include the appointment of Mr. Ramkishore Singhi as Independent Director for 5 years, Mr. Bal Mukand Gaggar as Director and as Joint Managing Director cum CFO for 5 years, and Mr. Prashant Mantri as Director and as Executive Director for 5 years. Additionally, shareholders are being asked to approve an increase in the limit for loans, guarantees, and investments under Section 186 of the Companies Act to a maximum of Rs. 750 Crore. The e-voting period runs from March 12, 2026 to April 11, 2026. The company noted it has sold all its manufacturing units in recent years and is looking for new growth opportunities, with FY2024-25 profit after tax of Rs. 132.00 crore compared to Rs. 11.84 crore in FY2023-24.
The appointments fill key leadership positions including a new Joint Managing Director/CFO and Executive Director, signalling a leadership refresh. The proposed Rs. 750 crore lending/investment limit expansion suggests the company is preparing for new business activities post-divestment of its manufacturing units, which could drive future growth but also raises the scope for capital deployment risk.