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Awaiting price reaction for this filing.
Pee Cee Cosma Sope Ltd has sent a Postal Ballot Notice to shareholders seeking approval (via Special Resolution) to re-appoint Shri Mayank Jain (DIN: 00112947) as Whole-time Director, designated as Executive Chairman, for another 5 years effective April 1, 2025. His previous term expired on March 31, 2025. The proposed maximum salary is Rs. 5,00,000 per month (up from the earlier Rs. 2,80,000 per month), with annual increments up to 20% and standard perquisites like car, medical, club fees, etc. E-voting runs from May 22, 2025 to June 20, 2025, with results to be declared by June 24, 2025. Mayank Jain is the main promoter of the company and holds 65,500 equity shares (2.48% stake). The company, which manufactures detergent cake, soap chips, detergent powder and other toiletry products, reported strong FY24 results with net revenue of Rs. 13,364.31 lacs and profit after tax of Rs. 1,044.37 lacs, up from Rs. 248.62 lacs in FY23.
This is a routine corporate governance action seeking shareholder approval for director re-appointment and remuneration. The nearly 78% jump in the salary cap is notable but the company is profitable and growing rapidly, so it is unlikely to materially affect the stock price. Shareholders must vote through remote e-voting before June 20, 2025.