Oswal Agro Mills Limited has informed the Exchange regarding Notice of Postal Ballot
OSWALAGRO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Oswal Agro Mills Limited has issued a Postal Ballot Notice dated July 10, 2025 seeking shareholder approval for three special resolutions through remote e-voting (July 16 to August 14, 2025). The first resolution seeks to rescind a prior special resolution passed on May 25, 2025 that had approved Mr. Shael Oswal as Managing Director. The second resolution seeks to appoint Mr. Shael Oswal as Director (Non-Executive & Non-Independent) & Vice Chairperson for 3 years effective June 1, 2025, with a monthly remuneration of Rs. 25,00,000 plus perquisites like car with chauffeur, insurance, and club membership. The third resolution seeks approval for his annual remuneration exceeding 50% of total remuneration payable to all non-executive directors, as required under SEBI Regulation 17(6)(ca). Mr. Shael Oswal belongs to the promoter family and is the son of Mrs. Aruna Oswal, the Company's Chairperson. The proposed related party transaction represents 1.87% of the Company's annual consolidated turnover. For FY24-25, the Company reported revenue of Rs. 16,176.69 lakhs and profit after tax of Rs. 10,882.44 lakhs, with EPS of Rs. 8.11.
This is largely an internal restructuring within the promoter family — Mr. Shael Oswal is being shifted from the proposed Managing Director role to a Non-Executive Vice Chairperson role with substantial pay of Rs. 25 lakh per month. Shareholders should note the high remuneration to a single non-executive director (exceeding 50% of total non-executive director pay), which is why a special resolution is mandatory. The change is unlikely to materially affect operations, but investors may want to monitor how the new leadership structure is received.