Re-appointment of Mr. Sanjivkumar N. Patel (DIN: 02794095) as Managing Director for a further period of 3 years w.e.f. 20th May, 2026.
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The Board of Patels Airtemp (India) Limited has re-appointed Mr. Sanjivkumar N. Patel (DIN: 02794095) as Managing Director, designated as Chairman & Managing Director, for a further period of 3 years from 20th May, 2026 to 19th May, 2029. He will receive a salary of Rs. 5,50,000 per month plus perquisites and allowances, compared to total remuneration of Rs. 61,89,632 drawn in FY2024-25. Mr. Patel is a promoter of the company and has been associated with it since 2009, serving as Managing Director since 2015 and Chairman since November 2023. He holds 4,11,276 equity shares (7.52% of the company's share capital). The re-appointment is subject to shareholder approval via a postal ballot.
This is a routine continuity announcement — the existing promoter-led management remains in place with no change in leadership. The salary is modest and proportionate, and the re-appointment signals stability rather than any strategic shift. No material impact expected on share price.